Post Office FD vs SBI FD: Here both post office FD and SBI FD have been compared. If you also want to invest, then let us know where you will get more profit.
Post Office FD vs SBI FD: Fixed deposits (FD) are one of the most reliable options for safe investment in today’s time. Post Office and State Bank of India (SBI) are offering attractive FD schemes to customers. These FD schemes are giving guaranteed returns. If you are considering investing in FD, it is important to know which of these schemes can give you better returns and security. Here is a comparison between FD schemes of post office and SBI, so that you can make your decision wisely.
Return on 5-year FD
State Bank of India gives interest rates ranging from 3.50 percent to 7.25 percent on FD. On the other hand, customers are given interest rates ranging from 6.9 percent to 7.5 percent on post office fixed deposits. If an investor wants to invest in a 5-year FD, then State Bank of India will give a return of 6.5 percent. While the post office gives a return of 7.5 percent for this period.
Return on 5-year FD in SBI
Let us assume that in the last five years you deposited Rs 3,50,000 in FD in State Bank of India. At the same time, the return of this money at an annual interest rate of 6.5 percent will be Rs 1,33,147. Including the interest rate, your total money will be Rs 4,83,147.
Return on 5-year FD in post office
Let us assume that in the last five years you deposited Rs 3,50,000 in FD in post office. At the same time, the estimated return of this money at 7.5 percent annual interest rate will be Rs 1,57,482. Including the interest rate, your total money will be Rs 5,07,482.
Post office is giving more profit than SBI
If you invest Rs 3.5 lakh in SBI for five years, then you will get an interest of Rs 1,33,147 at the rate of 6.5 percent. In this way, you will get a total of Rs 4,83,147 on maturity. If you invest Rs 3.5 lakh in post office time deposit for five years, then you will get an interest of Rs 1,57,482 at the rate of 7.5 percent. In this way, you will get a total of Rs 5,07,482 on maturity.
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