Fixed deposit (FD) schemes in post offices are similar to FDs in banks. Post offices offer term deposits for one year to five years. Like an FD in a bank, the investor offers guaranteed returns during the tenure of the post office term deposit. Post office term deposits are for one year, two years, three years and 5 years.
In the post office, interest is available from 5.50 percent on FDs of 1 year to 3 years, while 6.70 percent interest is being available on FDs up to 5 years.
Know the new interest rates of the post office
5.50 percent interest is available on one year FD in the post office. FDs of 1 year 1 day to 2 years also have the same interest rate. Interest is also available on FD up to 3 years at the rate of 5.50 percent. 6.70 percent interest is available on FDs from 3 years one day to 5 years.
Know FD Rate in SBI
The interest rate for FD in State Bank of India can vary from 7 days to 10 years. Generally, the interest rates for customers in SBI remain between 2.9 percent to 5.4 percent. SBI offers 50bps more for senior citizens. Apart from this, SBI had started a special SBI Wecare Deposit Scheme for senior citizens amidst declining interest rates during the Corona virus epidemic. In this special FD scheme, 30 bps interest will be available for a tenure of 5 years. Explain that under the SBI Wecare Deposit Scheme, if a senior citizen makes a fixed deposit under the Special FD Scheme, then the interest rate applicable on the FD will be 6.20 percent.
Know SBI’s new interest rates on less than Rs 2 crore
- 7 days to 45 days – 2.9%
- 46 days to 179 days – 3.9 percent
- 180 days to 210 days – 4.4%
- 211 days to less than 1 year – 4.4%
- For more than 1 year and less than 2 years – 5%
- For more than 2 years and less than 3 years – 5.1%
- 5.3 percent for less than 3 years and more than 5 years
- For 5 years and up to 10 years – 5.4%
