SBI FD vs. Post Office FD: For a three-year duration, where is the bigger interest advantage located in SBI FD? Be aware of this

SBI FD vs. Post Office FD: For a three-year duration, where is the bigger interest advantage located in SBI FD? Be aware of this

SBI FD vs. Post Office FD: For a three-year duration, where is the bigger interest advantage located in SBI FD? Be aware of this

SBI Fixed Deposits vs. Post Office Term Deposits: Investors who want fixed returns over risk may choose fixed deposits. Find out whether term deposit at the Post Office or SBI is best for you.

Recently, the Post Office raised the rates on term deposits for certain durations by 0.10 percent, while SBI raised the interest rates on select FDs by 0.50 percent. Tell us more about your preferences so we can help you decide between SBI Fixed Deposits and Post Office Term Deposits.

current SBI FD rates

For FDs due in seven days, the interest rate was raised by 50 basis points to 45 days. Investors are now receiving 3.50% interest on this. Similarly, the bank raised the interest rate by 25 basis points to 4.75 percent for 46 to 179 days. The interest rate for 180- to 210-day fixed deposits has been raised by 50 basis points, or 5.75 percent. The interest rate will now increase by 25 basis points, or 6%, for a tenure of 211 days or less than a year. In terms of the long term, you will get interest on FDs due in three to five years at a rate of 6.75 percent (SBI FD Interest Rate).

Time frame for regular citizens for elderly citizens

From seven to forty-five days3.5 percent4 percent

From 46 to 179 days4.75 percent5.25 percent between 180 and 210 days5.75 percent6. 25% 211 days to a yearSix Per Cent6.5 percent

a year or two6.8% of the total7.30 %

between two and three years7 %75 percent

three to five years6.75 percent7.25 percent

five to ten years6.5 percent75 percent

 

Rate of interest on term deposits at Post Office

Simultaneously, post office three-year deposits now have an interest rate of 7.1 percent. Interest rates of 6.9 percent, 7%, and 7.5 percent are offered on deposits with durations of one year, two years, and five years, respectively (Post Office Deposit Interest Rate).

One-year post office deposit: 6.9%

Post Office Deposit: 7% for two years

Post Office Deposit: 7.1% for three years

Five-year Post Office Deposit: 7.5 percent

Which option works best for you out of the two?

Let's say, for instance, that you want to invest in fixed deposits for three years and make money. You will get 6.75 percent interest on your FD if you invest with SBI for three years. If you deposit money at the post office, you will get interest at the rate of 7.1%. In contrast to post office deposits, which yield interest at a rate of 7.5 percent, if you choose to open a five-year FD with SBI, you will get benefits at a rate of 6.5 percent.

You may choose to invest in fixed-rate bonds (FDs) at SBI for a duration of seven days to ten years. However, you will have the choice to invest for only one, two, three, or five years at the post office.