Fixed Deposit Interest Rates: SBI Vs Post Offices
Fixed deposit (FD) accounts offered by banks and post offices offer lucrative interest rates. The interest rates are fixed until a given maturity period. The interest rates on fixed deposits do not change and thus the customer knows at the time of applying for a fixed deposit, the returns that he/she will make on his/her FD investment. Leading banks as well as post offices offer the option of opening fixed deposit accounts. The largest lender of the country State Bank of India (SBI) also offers this option.
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)
(All figures in % per annum)
| 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 |
| Period | Rate |
| 1yr.A/c | 6.60% |
| 2yr.A/c | 6.7% |
| 3yr.A/c | 6.90% |
| 5yr.A/c | 7.40% |
