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SBI vs Post Office FD Calculator: For safe investment and guaranteed returns, people invest in fixed deposits. Common investors invest in FD schemes of banks and post offices. Do you know which option of investing in FD of Post Office and SBI gives a better option?
SBI FD rates-
7 to 45 days – 3.5 percent
46 to 179 days – 5.5 percent
180 to 210 days – 6.25 percent
211 days to less than 1 year – 6.5 percent
1 year to less than 2 years – 6.8 percent
2 years to less than 3 years – 7 percent
3 years to less than 5 years – 6.75 percent
From 5 years to 10 years – 6.5 percent
Post Office Time Deposit
Many types of savings schemes are being run for investment in the post office. In this context, a savings scheme is being run by the name of Post Office Time Deposit i.e. TD. This scheme is similar to FD. Investment in post office TD can be started with only Rs 1,000. The maximum amount that can be invested is any amount. Investment can be made in time deposit scheme for 1 year to 5 years. Let us know about the interest rates on time deposits-
Post Office Time Deposit (1 year) – 6.9 percent
Post Office Time Deposit (2 years) – 7.0 percent
Post Office Time Deposit (3 years) – 7.1 percent
Post Office Time Deposit (5 years) – 7.5 percent
More profit on 5 year FD/time deposit in post office than SBI
If you invest Rs 2 lakh in SBI for 5 years, you will get interest of Rs 76,084 at the rate of 6.5 percent. In this way you will get a total of Rs 2,76,084 on maturity. If you invest Rs 2 lakh in Post Office Time Deposit for 5 years, you will get interest of Rs 89,990 at the rate of 7.5 percent. In this way you will get a total of Rs 2,89,990 on maturity.
Tag: bank FD, FD rates, Fixed deposit, post office, SBI
first published : December 8, 2024, 3:16 pm IST
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