Work News / SBI or Post Office Find out who is paying more interest on FD
Work News / SBI or Post Office Find out who is paying more interest on FD
👉 All the top banks, including the country's largest state-owned bank, State Bank of India, are offering short-term and long-term deposits.
👉 The fixed deposit option is considered the best for people who believe in keeping their money safe. All the top banks, including the country's largest state-owned bank, State Bank of India, are offering short-term and long-term deposits. You can choose the duration based on your needs. In addition to banks, you can also do FD at the post office. Post office time deposit rates change every three months
Interest rate of post office FD from 1st April 2021
👉The Government of India has reversed its decision to reduce interest rates on small savings schemes. Now the small savings scheme will get the same interest rate till the last three campaigns of FY20-2021 which was getting earlier. He was briefed by Finance Minister Nirmala Sitaram on Thursday. Post office term deposit scheme is similar to bank FD. The post office offers term deposits ranging from one year to five years. Interest on post office deposits was revised on 1 April 2021. It offers an interest rate of 5.5% for one year deposit up to 3 years. The Post Office offers 6.7% interest on the deposit account for a period of five years.
On 1 year deposit - 5.50%
On 2 year deposit - 5.50%
On 3 year deposit - 5.50%
On 5 year deposit - 6.70%
Senior citizens will get more interest
SBI offers 50 BPS interest rate to senior citizens for all periods. As well as after research senior citizens will get 3.4% to 6.2% interest on FDs maturing from 7 days to 10 years.
