SBI FD Vs Post Office FD Know Where Investors Will Get Better Returns
SBI FD vs Post Office FD Investment: Since the start...
SBI FD vs Post Office FD Investment: Since the start of the Russia-Ukraine war, there is a tremendous decline in the stock market around the world. Its effect has also been seen on the stock market of India. Recently, crores of rupees of investors have sunk in the market. In such a situation, nowadays people are avoiding investing in investment options related to market risk. In the recent past, the Reserve Bank of India has increased the repo rate by 0.90 percent. With this, the bank has also started giving more returns to the customers on Saving Account and Fixed Deposit Scheme.
The big government and private banks of the country have increased the interest rates of FD, giving big benefits to the customers. This includes big public sector banks i.e. big banks like Punjab National Bank or State Bank of India etc. If you are planning to invest in State Bank of India and Post Office Fixed Deposit Scheme, then we tell you about the interest rate available on both the schemes. It also tells that by investing in which scheme you will get higher returns-
SBI FD Scheme-
Let us tell you that on June 14, 2022, the country’s largest bank SBI had decided to increase the interest rates on its FDs of less than Rs 2 crore. From this onwards, customers will get higher returns on FDs of different tenures. Explain that senior citizens get 0.50% more interest rate on FD (FD Rates for Senior Citizen) than common people. This interest rate is available on FDs of different tenures of SBI-
This interest is available on FDs of less than Rs 2 crore-
FD of 7 to 45 days – 2.90%
FD of 46 days to 179 days – 3.90%
180 days to 210 days FD – 4.40%
211 days to 1 year -4.40%
1 to 2 years – 5.20%
2 to 3 years – 5.20%
3 to 5 years – 5.45%
5 to 10 years – 5.50
This interest rate is available on post office FD-
You can start the post office FD scheme with an investment of Rs 1,000 in the Time Deposit Scheme. In this you can invest in multiples of Rs 100. You can get a return of 5.50% on FDs of 1 to 3 years at the post office. On the other hand, on FDs of more than 5 years, you get an interest rate of 6.7%. Along with this, senior citizens do not get any extra benefit on post office FD. In such a situation, you can get more returns by investing in the post office FD scheme.
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