SBI FD vs Post Office TD: Investment in fixed deposits is still considered very safe. In the last few months, both private and public sector banks of the country have tried to attract customers for investment by increasing the interest rates of fixed deposits. Apart from this, many banks have launched new special fixed deposit schemes. The country's largest government bank, State Bank of India (SBI), is also offering great interest on its FDs, but do you know how much interest will be received on making term deposits in the post office? Post Office and SBI, where is the highest interest being offered on FD.

Tenure of Fixed Deposit

SBI has divided its fixed deposits into eight periods. 7 days to 45 days, 46 days to 179 days, 180 days to 210 days, 211 days to less than 1 year, 1 year to less than 2 years, 2 years to less than 3 years, 3 years to less than 5 years, 5 years and up to 10 years. The interest rate offered on these periods varies according to the period.

SBI FD Interest Rates

State Bank of India 7 days to 45 days (3.5% for general customers), 46 days to 179 days (5.5%), 180 days to 210 days (6%), 211 days to less than 1 year (6.25%), 1 year to less than 2 years (6.8%), 2 years to less than 3 years (7%), 3 years to less than 5 years (6.7%), 5 years to 10 years (6.5%). Senior citizens are paid 0.5 percent higher interest. Only on the longest tenure FDs of 5 years and up to 10 years, the bank offers 7.5 percent interest to senior citizens.

Post Office Term Deposit

On the other hand, post office term deposits are available for tenures of 1 year, 2 years, 3 years, and 5 years. The interest rates offered in these FDs are 6.90% for 1 year, 7.00% for 2 years, 7.10% for 3 years, and 7.50% for 5 years, which is the maximum rate. It is worth noting that post office term deposits have the same interest rate for both general customers and senior citizens.

SBI Special FD

Apart from its regular FD, SBI is also offering an opportunity to invest in a special fixed deposit scheme. On investing in a 400-day FD branded as Amrit Kalash, general citizens get an interest rate of 7.1 percent and senior citizens get 7.6 percent interest. Also, in the 444-day Amrit Varsha, the bank offers interest at the rate of 7.25 percent to general customers and 7.75 percent to senior citizens.