SBI FD Vs Post Office FD: If you are looking for guaranteed returns on FD and are planning to invest in SBI or Post Office, then this news is for you. Let us know which of the two will give more benefits on 5-year FD?
SBI FD vs Post Office FD Calculator: People invest in Fixed Deposit for safe investment and guaranteed returns. Common investors invest in FD schemes of banks and post offices. Do you know which option among Post Office and SBI FDs gives you a better option to invest in?
State Bank of India offers interest ranging from 3.50% to 7.25% on FD. On the other hand, customers are given interest ranging from 6.9% to 7.5% on post office time deposits.
How much return will you get on 5 year FD?
If investors want to invest in 5 year FD, then State Bank of India will give a return of 6.5 percent. Whereas the post office gives a return of 7.5 percent for this period.
Returns on 5-year FD in SBI
Amount invested: Rs 3,50,000
Interest rate: 6.50 per cent per annum
Expected return: Rs 1,33,147
Total value on maturity: Rs 4,83,147
Returns on 5-year time deposit in post office
Amount invested: Rs 3,50,000
Interest rate: 7.50 per cent per annum
Estimated return: Rs 1,57,482
Total value on maturity: Rs 5,07,482
Post Office has more profit than SBI
If you invest Rs 3.5 lakh in SBI for 5 years, 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 5 years, 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.
