SBI FD vs Post workplace fastened deposit schemes: Latest rates of interest right here

Post workplace fastened deposit schemes are just like financial institution FDs. Post places of work supply time period deposits starting from one 12 months to 5 years. Like financial institution FDs, buyers earn a assured return by way of the tenure of the submit workplace time period deposit. For a one-year time deposit to 3 years, it affords an rate of interest of 5.5%. For a five-year time deposit account, Post Office affords an rate of interest of 6.7%.

Latest Post Office time period deposit rates of interest

1yr-5.5%

2yr-5.5%

3yr-5.5%

5yr-6.7​ %

SBI fastened deposits (FDs)

For an SBI FD, the tenures might fluctuate from 7 days to 10 years, relying upon the necessity of funding, whether or not it’s for the short-term or long-term. SBI FD rates of interest fluctuate between 2.9% to five.4% for common clients. SBI offers 50 bps extra to senior residents on these deposits. Apart from that amid the falling charges in the course of the coronavirus pandemic, SBI had launched a particular FD scheme for senior residents -We Care – which affords an extra 30 bps rate of interest to the senior residents on their FD for the tenor of 5 years and extra.

SBI newest FD rates of interest (beneath ₹2 crore) 

7 days to 45 days – 2.9%

46 days to 179 days – 3.9%

180 days to 210 days – 4.4%

211 days to lower than 1 12 months – 4.4%

1 12 months to lower than 2 years – 5%

2 years to lower than 3 years – 5.1%

3 years to lower than 5 years – 5.3%

5 years and as much as 10 years – 5.4%

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