Saving is very important at present. To meet the future needs, people also invest along with saving. Although there are many investment options available.
Many investors want to make secure investments. In secure investment options, the first attention comes to Bank FD and Post Office Scheme.
If you are also going to select the Bank FD option, then wait now. Let us tell you that in the term deposit scheme of the post office, you will get more interest and guaranteed returns than bank FD.
Post Office Term Deposit
There is no risk in the Post Office Term Deposit Scheme and it gives guaranteed returns. Currently, Post Office Term Deposit is getting 7.5 percent interest (Post Office Term Deposit Interest Rate) for five years. This scheme has a uniform interest rate for all investors, that is, senior citizens also get 7.5 percent interest.
Interest is paid annually, but interest calculation is done every quarter. Let us tell you that you can close this scheme before the scheduled time as well. However, if you withdraw interest before the scheduled time, you will get a lower interest rate.
Understand it like this if you withdraw after 4 years in a five-year scheme, you will get interest at the rate of 4 percent.
Maturity period - 5 years
Interest rate - 7.5 percent
Bank FD
The interest rate of bank FD is different for every bank. Apart from this, the rates for senior citizens and super senior citizens in bank FD are different. Most of the big banks of the country are offering 7 percent interest on FD maturing in five years.
What is the interest rate at which bank
Bank FD Interest rates for general public Interest rates for senior citizens
State Bank of India 7% 7.50%
HDFC Bank 7% 7.50%
ICICI Bank 7% 7.50%
PNB Bank 6.50% 7.30%
Bank of India 6.50% 7%
IDBI Bank 6.50% 7%
IDFC First 7% 7.50%
Bank of Baroda 6.50% 7.15%
Indian Bank 6.25% 6.75%
Canara Bank 6.70% 7.20%
If you get a bank FD, then first of all you should compare the interest rates of all the banks. Apart from this, also read the terms and conditions of bank FD carefully.
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