Given below is a comparison of interest rates on fixed deposit accounts offered by SBI and post offices
Fixed deposit interest rates of SBI
The following are the fixed deposit interest rates on deposits less than Rs 1 crore (according to sbi.co.in):
(Also Read: SBI Vs HDFC Bank Vs ICICI Bank - Car Loan Interest Rates, Features Compared)
|Tenors||Existing for Public w.e.f. 28.02.2018||Revised For Public w.e.f. 28.03.2018||Existing for Senior Citizens w.e.f. 28.02.2018||Revised for Senior Citizens w.e.f. 28.03.2018|
|7 days to 45 days||5.75||5.75||6.25||6.25|
|46 days to 179 days||6.25||6.25||6.75||6.75|
|180 days to 210 days||6.35||6.35||6.85||6.85|
|211 days to less than 1 year||6.4||6.4||6.9||6.9|
|1 year to less than 2 year||6.4||6.4||6.9||6.9|
|2 years to less than 3 years||6.5||6.6||7||7.1|
|3 years to less than 5 years||6.5||6.7||7||7.2|
|5 years and up to 10 years||6.5||6.75||7||7.25|
Fixed deposit interest rates of post offices
Post office fixed deposits require a minimum investment of Rs 200, according to India Post's website, indiapost.gov.in. The following interest rates are with effect from January 1, 2018:
SBI also offers savings accounts, savings plus accounts, and basic savings bank deposit accounts, among others.
Post offices offer nine savings schemes, including fixed deposits. The other eight savings schemes are: savings accounts, recurring deposits, public provident funds, Sukanya Samriddhi accounts, monthly investment saving scheme, senior citizen savings scheme, national savings certificates, and Kisan Vikas Patra.
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