INSUBCONTINENT EXCLUSIVE:
A fixed deposit (FD) is a financial instrument which offers guaranteed returns.State Bank of India (SBI), country's largest lender,
recently revised its fixed deposits rate
On fixed deposits below Rs
1 crore, interest rates were raised between 5 basis points-10 basis points, which means between 0.05 per cent-0.1 per cent across tenures of
Just like banks, post offices also offer fixed deposit and recurring deposit facilities
Recurring Deposit (RD) is a kind of deposit under which one needs to deposit a fixed amount at fixed intervals, which generates interest
A fixed deposit (FD) is a financial instrument which offers guaranteed returns
In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years.Here is a comparison of fixed
deposit (FD) rates offered by State Bank of India (SBI) and India Post:Fixed deposit (FD) rates offered by State Bank of India (Below Rs
1 crore):Revised from July 30, 2018:TermInterest rate for general public (% per annum)Interest rate for senior citizens (% per annum)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 year6.77.22
years to less than 3 years6.757.253 years to less than 5 years6.87.35 years and up to 10 years6.857.35Recurring deposit (RD) interest rates
of SBI:Recurring deposit or RD interest rates of SBI are the same as that on FDs
So, the above mentioned rates are also applicable on Recurring deposits.India Post fixed deposit interest rates:Post office FD interest rate
is calculated on a quarterly basis and paid on an annual basis, according to India Post
The account can be opened with a minimum amount of Rs
Any amount in the multiple of Rs
200 can be invested in the scheme
The post office TD account has no stipulated maximum investment limit.The following interest rates are from indiapost.gov.in:PeriodRate1
post office recurring deposit account, offers an interest rate of 6.9 per cent
The recurring deposit can be set up with a minimum amount of Rs
In a recurring deposit, the investor deposits a fixed amount of money in regular intervals
Contribution in the multiples of Rs
5 can be chosen to invest in the five-year recurring deposit account
The interest rate of 6.9 per cent is compounded on a quarterly basis, which means a recurring deposit account of Rs
10, in which the account holder pays Rs
10 every month, provides a return of Rs
