SBI vs post office: There is tough competition between the State Bank of India (SBI) and the post office when it comes to offering higher returns to customers. The SBI provides interest rates between 3.50 per cent to 7.25 per cent on fixed deposits (FDs), while the post office is offering interest rates ranging from 6.9 per cent to 7.5 per cent on time deposits (TD) of different periods. Both FD and TD function similarly, where customers invest money for a specific period and receive a guaranteed return upon maturity. Let's take a look at which one, SBI or the post office, offers higher returns on deposits.
Who is offering more return for 1-year period?
The post office is giving 6.9 per cent interest on TD for 1 year period, whereas the State Bank of India is offering 6.8 per cent interest on 1 year FD.
Where will you get more interest on 2-year deposits?
The post office is offering a 7.0 per cent interest rate on deposits for a two-year period. Similarly, the SBI is also providing a 7.0% interest rate on a two-year fixed deposit (FD).
Where will you get more money in 3 years?
The post office is offering a 7.1 per cent return on 3 years TD. On the other hand, the SBI has lagged behind the post office here and is just offering 6.75 per cent interest on a 3-year FD.
Who is ahead in terms of giving more interest in 5 years?
The post office is offering a great interest of 7.5 per cent to its customers on a 5-year term deposit. While the SBI is only offering 6.5 per cent interest to its customers on 5-year FD.
Notably, the State Bank of India is giving its customers 7.10 per cent interest on 400 days Amrit Kalash FD scheme and 7.25 per cent interest on 444 days Amrit Vrishti FD scheme.
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