Bank FD Vs Post Office Term Deposit : The government had recently revised the interest rates on small savings schemes of Post Office Saving Scheme. Banks have also not made much change in their interest rates for some time. Whereas, RBI has maintained its repo rate for three consecutive times. Here the interest rates of bank FD rates and Post Office FD Scheme have been compared. We are telling you where you will get more returns by investing.
Interest rates on post office FD
Post office is offering maximum interest up to 7.5 percent on FD. However, this interest depends on the period of the FD. Currently, interest is being given at the rate of 6.9 percent on one year Post Office Time Deposit, 7.0 percent on 2 year Post Office Time Deposit, 7 percent on 3 year Post Office Time Deposit and 7.5 percent on 5 year Post Office Time Deposit. Is. Small savings schemes motivate citizens to save regularly. These schemes are of three types. This includes savings schemes, social security schemes and monthly income schemes.
Interest on small savings scheme
- Saving Account – 4 percent
- 1 year post office FD – 6.9 percent
- 2 year post office FD – 7.0 percent
- 3 year post office FD – 7 percent
- 5 year post office FD: 7.5 percent
- 5 year RD: 6.5 percent
This is the maximum interest being received on FD of banks
Among big banks, HDFC Bank is offering maximum interest of up to 7.75 percent on FD. SBI is giving interest up to 7.50 percent annually on FD. PNB is giving interest up to 7.75 percent annually. And ICICI Bank is giving interest on FD up to 7.60 percent per annum. The government is offering interest ranging from 4 percent to 8.2 percent on small savings schemes.
