Post Office vs SBI RD Interest Rate Investors are getting 6.5 percent interest on the post office’s five-year RD. At the same time, SBI is giving interest ranging from 6.50 percent to 7.00 percent to general investors and 7.00 to 7.50 percent to senior citizens on RD. You can get RD from one year to 10 years in SBI.
Post Office vs SBI RD Interest Rate: Recurring Deposit ie RD is one of the most popular options for safe investment. In this, you have to deposit monthly installment every month like mutual fund SIP and this installment is decided at the time of starting RD. Money is received on maturity as per the tenure chosen by you.
On the other hand, when it comes to getting RD done, people give preference to the country’s largest bank SBI and Post Office.
Today, in this article, we are going to compare the RD interest rates of Post Office and SBI, in which the investors are getting more interest.
Interest rate on SBI RD
RD offer from one to 10 years is going on from SBI. One can start investing with Rs 100 per month and can increase the investment in multiples of 10.
SBI is giving interest ranging from 6.50 percent to 7.00 percent to general investors and 7.00 percent to 7.50 percent to senior citizens.
Latest interest rate on SBI RD
- Interest of 6.80 percent is being given to general investors and 7.30 percent to senior citizens on RDs of 1 year to less than 2 years.
- General investors are getting 7.00 percent interest and senior citizens are getting 7.50 percent interest on RD ranging from 2 years to less than 3 years.
- 6.50 percent interest is being given to general investors and 7.00 percent interest to senior citizens on RDs of 3 years to less than 5 years.
- On RD ranging from 5 years to 10 years, general investors are getting 6.50 percent interest and senior citizens are getting 7.50 percent interest.
Interest rate on Post Office RD
Post office RD comes with a maturity of 5 years. Investment can be started from Rs 100 in this and you can increase it in multiples of 10. Additional interest is not being given to senior citizens in post office RD. 6.5 percent interest is being received in the RD of the post office.
Post Office RD
TDS of 10 percent is levied on the interest received on RD. However, this is applicable only if the interest on RD is more than Rs 10,000.
