SBI vs Post Office FD Calculator: If you invest 2 lakh rupees in SBI for 5 years, then how much profit will you get and how much profit will you get if you invest in post office. Understand it through calculation.
SBI vs Post Office FD Calculator: If you want to invest in fixed deposit for a long time and are confused whether to invest in bank or post office, then here we are telling you about 5 year FD of post office and 5 year FD of State Bank. At present, you are getting 7.5 percent return on 5 year FD in post office, while you will get profit of 6.75 percent on State Bank. Let us tell you on the basis of calculation that if you invest 2 lakh rupees in SBI for 5 years, then how much profit will you get and how much profit will you get if you invest in post office.
How much profit in the bank
If you invest Rs 2 lakh in State Bank for 5 years, then you will get interest of Rs 79,500 at the rate of 6.75 percent. In this way, you will get a total of Rs 2,79,500 on maturity. On the other hand, if senior citizens deposit Rs 2 lakh in it for 5 years, then they will get more benefit. At present, senior citizens are being given interest at the rate of 7.25 percent on FD up to 5 years. In such a situation, they will get a total of Rs 86,452 as interest and thus a total of Rs 2,86,452 will be available on maturity.
How much profit in post office
On the other hand, if we talk about post office, then at present interest is being given in post office at the rate of 7.5 percent. In such a situation, on investing Rs 2 lakh for 5 years, you will get Rs 89,990 as interest on maturity. In this way, a total of Rs 2,89,990 will be received on maturity. Senior citizens will also get the same amount on maturity. In such a situation, there is more profit in the post office on 5-year FD.
Interest rate of other FDs of SBI
- More than 1 year but less than 2 years: 6.80%
- More than 2 years but less than 3 years: 7.00%
- More than 3 years but less than 5 years: 6.75%
- More than 5 years but up to 10 years: 6.50%
- Senior citizens get .50 percent more.
Interest rates on other Post Office FDs:
1 year FD: 6.00%
2 year FD: 7.00%
3 year FD: 7.10%
5 year FD: 7.50%
