POTD vs Bank FD: There are many options available for investment in today’s time. Post Office Term Deposit Scheme gives more interest than Bank FD. There is no risk in this scheme with guaranteed returns. Today we will tell you how much better the Post Office Term Deposit Scheme is than Bank FD.
POTD vs Bank FD: Saving is very important these days. To meet future needs, people invest along with saving. However, there are many investment options available.
Many investors want to make secure investments. The first option that comes to mind when it comes to secure investment options is Bank FD and Post Office Scheme .
If you are also going to select the bank FD option, then wait now. Let us tell you that in the term deposit scheme of the post office, you will get more interest and guaranteed returns than the bank FD.
Post Office Term Deposit
There is no risk in the Post Office Term Deposit Scheme and it gives guaranteed returns. Currently, the Post Office Term Deposit is getting 7.5 percent interest (Post Office Term Deposit Interest Rate) for a period of five years. This scheme has the same interest rate for all investors, that is, senior citizens also get 7.5 percent interest.
Interest is paid annually, but interest calculation is done every quarter. Let us tell you that you can close this scheme before the stipulated time as well. However, if you withdraw the interest before the stipulated time, you will get a lower interest rate.
Understand it like this, if you withdraw after 4 years in a five year scheme, you will get interest at the rate of 4 percent.
- Maturity period- 5 years
- Interest rate- 7.5%
Bank FD
The interest rate of bank FD is different for every bank. Apart from this, the rates for senior citizens and super senior citizens are different in bank FD. Most of the big banks of the country are offering 7 percent interest on FD maturing in five years.
What is the interest rate in which bank
| Bank FD | Interest rates for general public | Interest Rates for Senior Citizens |
| State Bank Of India | 7% | 7.50% |
| HDFC bank | 7% | 7.50% |
| ICICI Bank | 7% | 7.50% |
| Punjab National Bank | 6.50% | 7.30% |
| Bank Of India | 6.50% | 7% |
| IDBI Bank | 6.50% | 7% |
| IDFC First | 7% | 7.50% |
| Bank Of Baroda | 6.50% | 7.15% |
| Indian Bank | 6.25% | 6.75% |
| Canara Bank | 6.70% | 7.20% |
If you make a bank FD, then first of all you should compare the interest rates of all the banks. Apart from this, also read the terms and conditions of bank FD carefully.
