SBI fastened deposit vs Post Office time period deposit: Latest rates of interest in contrast

All prime banks give the purchasers an possibility of opening an FD. Recently, the State Bank of India (SBI), HDFC Bank had been among the many banks to hike their FD rates of interest. Apart from the banks, Post Office Time Deposits are additionally thought-about a protected possibility for FDs.Post Office Time Deposits sees a quarterly revision of charges.

Post workplace time period deposit schemes are just like financial institution FDs. Post workplaces provide time period deposits starting from one yr to 5 years. Like financial institution FDs, traders earn a assured return by means of the tenure of the publish workplace time period deposit.  For a one-year time deposit to 3 years, it provides an rate of interest of 5.5%. For a five-year time deposit account, Post Office provides 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 rates of interest

SBI FDs between 7 days to 10 years will give 2.9% to five.5% to common prospects. Senior residents will get 50 foundation factors (bps) further on these deposits -3.4 %to six.30%. These charges are efficient from 15 February 2022.

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 yr – 4.4%

1 yr to lower than 2 years – 5.1%

2 years to lower than 3 years – 5.2%

3 years to lower than 5 years – 5.45%

5 years and as much as 10 years – 5.5%

Subscribe to Mint Newsletters

* Enter a sound electronic mail

* Thank you for subscribing to our e-newsletter.

Never miss a narrative! Stay related and knowledgeable with Mint.
Download
our App Now!!

Topics