SBI is giving 6.5% interest on 5 year FD
There was a time when people did not have many investment options available with safe and fixed returns, but now times have changed a lot. Today, people of all sections of the country have many investment options available. Post Office i.e. Post Office is now running many types of investment schemes with great enthusiasm.
Direct 1 percent higher returns than SBI
The special thing is that the post office is not only running attractive schemes for its customers but is also giving higher returns than the big banks of the country. Yes, the post office is offering 1 percent more interest on the 5-year FD scheme than the country’s largest government bank SBI.
SBI is giving 6.5% interest on 5 year FD
The country’s largest government bank – State Bank of India i.e. SBI is offering 6.5 percent interest to its customers on 5 year FD i.e. fixed deposit. SBI is offering 7.5 percent interest to senior citizens on FD scheme with a tenure of 5 years.
7.5% interest available in post office on 5 year TD
On the other hand, the post office is offering 7.5 percent interest on 5 year TD i.e. time deposit to all its customers, no matter what your age. Let us tell you that the TD scheme of the post office is similar to the FD scheme run by banks. Like FD, investors in TD also get fixed and guaranteed returns after a fixed period of time.
Understand with example how much difference will be made
For example, if you are not a senior citizen and deposit Rs 5 lakh in a 5-year FD in SBI, then on maturity you will get a total of Rs 6,90,209 lakh. On the other hand, if you invest the same amount in post office TD, you will get a total of Rs 7,24,974 on maturity. That means you will get Rs 34,765 more in post office compared to State Bank of India.
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