Latest Fixed Deposit (FD) Interest Rates: SBI (State Bank Of India) Vs Post Office
SBI or State Bank of India, the largest lender of the country, recently hiked its fixed deposit or FD interest rates across various maturities. The recent hike in interest rate for fixed deposit in SBI came just two days before the repo rate was hiked to 6.50 per cent in the latest RBI policy. India Post or the Department of Post, which also offers banking services in the country, has the option of creating several deposit accounts, one of which is its time deposit or fixed deposit account. Post office fixed deposit interest rate varies according to tenures varying up to 5 years.
Given below is a comparison of fixed deposit or FD interest rates offered by SBI and India Post:
Fixed deposit rates of SBI:
The following SBI FD interest rates are applicable on retail fixed deposits (below Rs 1 crore) with effect from 30.07.2018:
(All figures in % per annum)
| Tenors | Existing for Public w.e.f. 28.05.2018 | Revised For Public w.e.f. 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 5.75 | 5.75 |
| 46 days to 179 days | 6.25 | 6.25 |
| 180 days to 210 days | 6.35 | 6.35 |
| 211 days to less than 1 year | 6.4 | 6.4 |
| 1 year to less than 2 year | 6.65 | 6.7 |
| 2 years to less than 3 years | 6.65 | 6.75 |
| 3 years to less than 5 years | 6.7 | 6.8 |
| 5 years and up to 10 years | 6.75 | 6.85 |
Latest SBI FD interest rates for senior citizens:
The following SBI FD interest rates for senior citizens are applicable on retail fixed deposits (below Rs 1 crore) with effect from 30.07.2018:
(All figures in % per annum)
| Tenors | Existing for Senior Citizens w.e.f. 28.05.2018 | Revised for Senior Citizens w.e.f. 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 6.25 | 6.25 |
| 46 days to 179 days | 6.75 | 6.75 |
| 180 days to 210 days | 6.85 | 6.85 |
| 211 days to less than 1 year | 6.9 | 6.9 |
| 1 year to less than 2 year | 7.15 | 7.2 |
| 2 years to less than 3 years | 7.15 | 7.25 |
| 3 years to less than 5 years | 7.2 | 7.3 |
| 5 years and up to 10 years | 7.25 | 7.35 |
Latest SBI FD interest rates for general public on fixed deposits between Rs 1 crore to Rs. 10 crore
(All figures in % per annum)
| Tenors | Existing w.e.f. 28.03.2018 | Revised w.e.f 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 5.75 | 5.75 |
| 46 days to 179 days | 6.7 | 6.25 |
| 180 days to 210 days | 6.7 | 6.35 |
| 211 days to less than 1 year | 6.75 | 6.4 |
| 1 year to less than 2 years | 7 | 6.7 |
| 2 years to less than 3 years | 6.75 | 6.75 |
| 3 years to less than 5 years | 6.65 | 6.8 |
| 5 years and upto 10 years | 6.25 | 6.85 |
Latest SBI FD interest rates for senior citizens on fixed deposits between Rs 1 crore to Rs. 10 crore
(All figures in % per annum)
| Tenors | Existing for Senior Citizen w.e.f 28.03.2018 | Revised for Senior Citizen w.e.f. 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 6.25 | 6.25 |
| 46 days to 179 days | 7.2 | 6.75 |
| 180 days to 210 days | 7.2 | 6.85 |
| 211 days to less than 1 year | 7.25 | 6.9 |
| 1 year to less than 2 years | 7.5 | 7.2 |
| 2 years to less than 3 years | 7.25 | 7.25 |
| 3 years to less than 5 years | 7.15 | 7.3 |
| 5 years and upto 10 years | 6.75 | 7.35 |
Latest SBI FD interest rates for general public on fixed deposits above Rs. 10 crore
(All figures in % per annum)
| Tenors | Existing w.e.f. 28.03.2018 | Revised w.e.f 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 5.75 | 5.75 |
| 46 days to 179 days | 6.7 | 6.25 |
| 180 days to 210 days | 6.7 | 6.35 |
| 211 days to less than 1 year | 6.75 | 6.4 |
| 1 Year to less than 2 year | 7 | 6.7 |
| 2 years to less than 3 years | 6.75 | 6.75 |
| 3 years to less than 5 years | 6.65 | 6.8 |
| 5 years and up to 10 years | 6.25 | 6.85 |
Latest SBI FD interest rates for senior citizens on fixed deposits above Rs. 10 crore
(All figures in % per annum)
| Tenors | Existing for Senior Citizen w.e.f 28.03.2018 | Revised for Senior Citizen w.e.f. 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 6.25 | 6.25 |
| 46 days to 179 days | 7.2 | 6.75 |
| 180 days to 210 days | 7.2 | 6.85 |
| 211 days to less than 1 year | 7.25 | 6.9 |
| 1 Year to less than 2 year | 7.5 | 7.2 |
| 2 years to less than 3 years | 7.25 | 7.25 |
| 3 years to less than 5 years | 7.15 | 7.3 |
| 5 years and up to 10 years | 6.75 | 7.35 |
(All the FD interest rates are from sbi.co.in)
India Post FD interest rates
The following interest rates are from indiapost.gov.in:
| Period | Rate |
|---|---|
| 1 yr.A/c | 6.60% |
| 2 yr.A/c | 6.7% |
| 3 yr.A/c | 6.90% |
| 5 yr.A/c | 7.40% |
Small finance banks' FD interest rates are much higher than what SBI and India Post offer.