All the top banks give the option of opening an FD to the customers. Recently, State Bank of India (SBI), HDFC Bank were among the banks to increase their FD interest rates. Apart from banks, post office fixed deposits are also considered a safe alternative to FDs. There is quarterly revision in post office fixed deposit rates.
Post office fixed deposit schemes are similar to bank FDs. Post offices offer fixed deposits for tenors ranging from one year to five years. Like bank FDs, investors earn guaranteed returns during the tenure of post office term deposits. For a one year fixed deposit for three years, it offers an interest rate of 5.5%. For a five-year fixed deposit account, the post office offers an interest rate of 6.7%.
Latest post office fixed deposit interest rates.
1yr-5.5%
2yr-5.5%
3yr-5.5%
5 years – 6.7%
SBI Fixed Deposit Interest Rates
SBI FD Will give from 2.9% to 5.5% to normal customers between 7 days to 10 years. Senior citizens will get an additional 50 basis points (bps) on these deposits ranging from -3.4% to 6.30%. These rates are effective from 15 February 2022.
7 days to 45 days – 2.9%
46 days to 179 days – 3.9%
180 days to 210 days – 4.4%
211 days to less than 1 year – 4.4%
1 year to less than 2 years – 5.1%
2 years to less than 3 years – 5.2%
3 years to less than 5 years – 5.45%
5 years and up to 10 years – 5.5%
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