SBI had introduced a new FD on the completion of 75 years of independence. This is a limited period FD in which you can invest for 3 years. The post office also offers FDs with a tenure of 3 years.
New Delhi. In the midst of a fall in the stock market and rising inflation, investors are looking for different investment options to keep their money safe as well as grow. In this, the most preferred option of the people is FD. In Fixed Deposit, your money is locked for a time but remains safe.
Not only this, on this you get interest at a fixed rate which changes from time to time. For example, after the increase in the repo rate at present, investing in FD has become very attractive. Banks have increased FD interest rates significantly in 3-4 months, due to which investors are getting the benefit. However, you have to look for a bank or financial institution that will be offering the highest interest on tenures of the desired term. We will tell you about FD of SBI and Post Office. Along with this, we will also tell you how you can raise 10 lakh rupees from FD in a short time.
SBI FD
State Bank of India (SBI) introduced UTSAV FD on the completion of 75 years of independence. In this you invest for 1000 days (a little more than 3 years). You can invest in this till 20 October 2022. With this FD, common citizens are getting interest at the rate of 6.10 percent and senior citizens at the rate of 6.60 percent. If you want to raise Rs 10 lakh from this FD, then you have to invest Rs 8.35 lakh.
Post office FD
The post office offers a small savings scheme similar to bank deposits called Post Office Time Deposit Account (POTD). This is a government-backed scheme and you can start investing from Rs.1,000 in this. After that you can increase in multiples of 100. You can deposit money in this scheme for 1,2,3 or 5 years. On FDs of 1-3 years, you get an interest of 5.5 percent. At the same time, you get an interest of 6.7 percent on a 5-year FD. If you want to deposit Rs 10 lakh in 3 years from this FD, then you will have to invest Rs 8.50 lakh. At the same time, to raise Rs 10 lakh in 5 years, Rs 7.18 lakh will have to be invested.
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