Fixed Deposit Schemes: In today’s time, Fixed Deposit (FD) is one of the most reliable options for safe investment. Post Office and State Bank of India (SBI) are offering attractive FD schemes to customers. This FD scheme is giving guaranteed returns. If you are thinking of investing in FD, it is important to know which of these schemes can give you better returns and security. Here is a comparison between the FD schemes of Post Office and SBI, so that you can take your decision wisely.
Return on 5 year FD
State Bank of India offers interest rates on FD ranging from 3.50 percent to 7.25 percent. At the same time, customers are given interest rates ranging from 6.9 percent to 7.5 percent on post office fixed deposits. If an investor wants to invest in a 5-year FD, State Bank of India will give a return of 6.5 percent. Whereas the post office gives a return of 7.5 percent for this period.
Return on 5 year FD in SBI
Let us assume that you deposited Rs 3,50,000 in FD in State Bank of India in the last five years. At the same time, the approximate return of this money at 6.5 percent annual interest rate will be Rs 1,33,147. Including interest rate, your total amount will be Rs 4,83,147.
Return on 5 year FD in post office
Let us assume that in the last five years you have deposited Rs 3,50,000 in FD in the post office. At the same time, the estimated return of this money at 7.5 percent annual interest rate will be Rs 1,57,482. Including interest rate, your total amount will be Rs 5,07,482.
Post office is giving more profit than SBI
If you invest Rs 3.5 lakh in SBI for five years, you will get an interest of Rs 1,33,147 at the rate of 6.5 percent. In this way, you will get a total of Rs 4,83,147 on maturity. If you invest Rs 3.5 lakh in post office time deposit for five years, you will get interest of Rs 1,57,482 at the rate of 7.5 percent. In this way, you will get a total of Rs 5,07,482 on maturity.
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