Let us know who is more beneficial in SBI Fixed Deposit and Post Office Time Deposit.

SBI FD Vs Post Office TD:

State Bank of India (SBI) had changed its interest rates on deposits of less than Rs 2 crore.

State Bank of India has increased from 4.40 percent to 4.60 percent for fixed deposits maturing in 211 days to 1 year.

SBI has increased the interest rate from 5.10 percent to 5.30 percent for fixed deposits of 1 year to less than 2 years.

SBI's interest rate for fixed deposits of 2 to 3 years is 5.35 percent and for 3 to 5 years is 5.35 percent.

State Bank is offering an interest rate of 5.45 percent on deposits for 5 years and 5.50 percent on deposits for 10 years.

Under the post office scheme, you can open a Time Deposit (TD) account for a period of 1 to 5 years.

5.5% interest rate is given on the money kept in the post office for 1 to 3 years, which is higher than the bank FD.

You will get 6.7 per cent interest on a 5-year time deposit in the post office, which is higher than SBI's rate of interest.

Everyone gets the same interest in the post office. Means there is an interest for senior citizen and general citizen.

Let us tell you that the scheme for the money to be deposited in the post office for a fixed time is called time deposit.