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 i.e. RD is one of the most popular options for safe investment. In this, you have to deposit the monthly installment every month like a mutual fund SIP and this installment is decided at the time of starting the RD. You get the money on maturity as per your chosen tenure.
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 to see which one is giving more interest to the investors.
Interest rate on SBI RD
SBI continues to offer RD from one to 10 years. 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
On RDs of 1 year to less than 2 years, 6.80 percent interest is being given to general investors and 7.30 percent interest to senior citizens.
On RDs of 2 years to less than 3 years, general investors are getting 7.00 percent interest and senior citizens are getting 7.50 percent interest.
On RDs of 3 years to less than 5 years, 6.50 percent interest is being given to general investors and 7.00 percent interest to senior citizens.
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.
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Interest rate on Post Office RD
Post office RD comes with a maturity of 5 years. Investment in this can be started from Rs 100 and you can increase it in multiples of 10. Senior citizens are not being given additional interest 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.
