Bank FD vs Post Office Scheme: This post office scheme is giving more returns than bank FD, check returns

In the last few times, the interest rate has increased a lot. A record increase has been seen in the interest from government schemes to bank FDs. There has been an increase in interest under the post office savings schemes. Even the post office fixed deposit interest rate maturing in five years has gone up to 7.5 per cent for the July-September quarter of 2023.

Where is getting more‍interest

If we compare post office time deposit and bank FD, then post office time deposit is getting 7.5 percent interest for five years. On the other hand, in other banks, a lower interest rate is being given on FDs of five years. Let’s see where what percentage of return is being given.

5-year FD returns in public sector banks‍

Bank of Baroda 5-year FD interest 6.5 per cent
Bank of India 5-year FD 6 per cent
Bank of Maharashtra 5.75 per cent Interest
Canara Bank 6.7% interest
Central Bank of India 6.25% interest
Indian Bank 6.25% interest
Punjab National Bank 6.5% interest
State Bank of India 6.5% interest
Union Bank 6.7% interest ;paying interest

Private Sector Bank FD Interest Rates

Talking about private sector banks, Axis Bank is offering 7 percent interest on five-year FDs. Bandhan Bank is offering an interest of 5.85 percent. Whereas DBS Bank is offering an interest of 6.5 per cent. DCB Bank is offering an interest of 7.75 per cent. HDFC, ICICI and IDFC First Bank are giving 7% interest. IndusInd Bank is paying 7.25 per cent and Kotak Mahindra Bank is paying 6.25 per cent.

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Bank FD vs Post Office Scheme: This post office scheme is giving more returns than bank FD, check returns

Where is getting more‍interest

5-year FD returns in public sector banks‍

Private Sector Bank FD Interest Rates

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