new Delhi. Even today, when it comes to investing, most people recommend FD i.e. Fixed Deposit. FD is considered to be a better option in terms of investment, in which the return is guaranteed. In this, more returns are available than the Savings Account. Many small and big banks in the country provide the facility of doing FD. Apart from this, the post office also provides the facility of time deposit scheme. Post office time deposits are similar to bank FDs.
SBI FD Rates
The country’s largest bank State Bank of India (SBI) is offering FDs for different tenors ranging from 7 days to 10 years. Recently SBI has increased the interest rates on FDs for tenures above 2 years.
SBI has increased the interest rates from 5.10 percent to 5.20 percent for 2-3 years. At the same time, the rates on FDs of 2-5 years have been increased by 15 basis points to 5.45 percent. The interest rates have been increased to 5.50 per cent for FD deposits with a tenor of 5-10 years. The revised interest rates of the bank are effective from February 15, 2022.
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Post Office Time Deposit Account
At the same time, post offices offer time deposits for tenures of 1 year, 2 years, 3 years, 4 years and 5 years. Like bank FDs, investors can get guaranteed returns from the Post Office Time Deposit Scheme.
1 year – 5.50 percent
2 years – 5.50 percent
3 years – 5.50 percent
5 years – 6.70 percent
Tags: Bank FD, Fixed deposits, Post Office, sbi
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