Investment Tips: In today’s time, many types of options are available with investors, but even today there is a large population of the country which considers investment in FD scheme as a better option.
SBI FD vs Post Office TD Scheme: Many senior citizens still prefer to invest their retirement money in fixed deposit schemes.
If you want to invest in one of the country’s largest public sector bank State Bank or Post Office’s FD scheme i.e. term deposit scheme, then we are telling you about the interest rate and benefits of both.
Talking about the FD scheme of State Bank, this bank is offering FD scheme to the customers for a period ranging from 7 days to 10 years. In this, interest rate ranging from 3.00 percent to 6.50 percent is being offered to general customers.
At the same time, SBI is offering interest rates ranging from 3.50 percent to 7.50 percent to senior citizens. The bank is offering an interest rate of 7.10 per cent to general public and 7.60 per cent to senior citizen customers under its special FD scheme Amrit Kalash (444 days FD). This special scheme is valid only till August 15, 2023.
At the same time, the post office is also offering FD scheme to its customers for a period ranging from 1 to 5 years. Under the term deposit scheme, 6.9 percent interest rate is being received on FD of 1 year.
At the same time, the post office term deposit scheme is getting 7 percent interest rate on FD of 2 years, 7 percent on FD of 3 years and 7.5 percent on FD of 5 years duration.
It is worth noting that on FDs of more than 5 years of SBI and Post Office, a rebate of Rs 1.50 lakh is available under Section 80C of Income Tax.
In such a situation, if you want to invest money for a period of 5 years, then the post office is a better option for you because even the common people are getting an interest rate of 7.50 percent.
