The return on the two-year post office time deposit is 6.9 per cent, which is higher than that offered by most banks on similar maturity deposits. The interest rate on the three-year post office time deposit has been increased to 7 percent.
Fixed Deposit ie FD is considered a better option for safe investment. During the last few months, attractive interest rates on deposits have increased the interest of investors. Today we will tell you on whom it is better to bet in post office and SBI deposits.
Talking about the post office term scheme, it comes under the ambit of small savings scheme. Under this scheme, the interest rates have been increased by the government. The return on the two-year post office time deposit is 6.9 per cent, which is higher than that offered by most banks on similar maturity deposits. The interest rate on the three-year post office time deposit has been increased to 7 percent.
term interest rate
1 year – 6.8%
2 years – 6.9%
3 years – 7.0%
5 years – 7.5 %
State of SBI FD: General customers are getting 3% to 7.1% interest on SBI FD between 7 days to 10 years. Senior citizens get 50 bps additional interest rate on deposits. The interest rate offered by SBI on deposits of one year to less than two years is 6.8 percent. The interest rate on deposits of two years to less than three years is 7 percent. These rates are effective from February 15.
7-45 days – 3% interest
46-179 days – 4.5%
180-210 days – 5.25%
211 days – less than 1 year – 5.75%
1 year – less than 2 years – 6.8%
400 days (Amrit Kalash) – 7.10%
2 years – less than 3 years – 7.00%
3 years – less than 5 years – 6.5%
5 years – up to 10 years – 6.5%
