INSUBCONTINENT EXCLUSIVE:
In a FD account, deposit is locked in for a predefined period for guaranteed returns.Fixed deposit (FD), an investment avenue offered by
commercial banks, non-banking financial companies, small saving banks and post offices, grants higher rate of interest as compared to
The interest rates on fixed deposits (FDs), which are revised from time to time, vary according to the tenor of a fixed deposit across
India Post - which operates a network of more than 1.5 lakh post offices across the country - offers four maturity periods under its FD
Bank of India (SBI)The minimum amount that one requires to open a fixed deposit with SBI is Rs 1,000, according to SBI's official website-
SBI's FD account offers payment of interest at monthly/quarterly basis which can be availed as per the investor's requirement
the tune of 5.75-6.75 per cent to the general public on fixed deposit (FD) up to Rs
applicable on deposits below Rs
2 crore with effect from May 9, 2019, according to bank's website:PeriodGeneral public (% p.a.)Senior citizens (% p.a.)7 days to 45
days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less than 2 year77.52 years
to less than 3 years6.757.253 years to less than 5 years6.77.25 years and up to 10 years6.67.1(As mentioned on India Post's website)India
Given below are the FD interest rates offered by post office:PeriodRate1 year time deposit (fixed deposit) account7.00%2 year time
mentioned on India Post's website)Investments made under the 5-year fixed deposit account qualifies for income tax benefits under Section
80C of the Income Tax Act, 1961, according to India Post.
