Is Post Office Time Deposit Scheme Better than FD? | Business News

29 Aug, 2023 Author: Ayushee Joshi

Business News: Customers have the choice of FD schemes from both banks and post offices. Due to the rise in the repo rate, several banks have raised the interest rates on their FD programs. Additionally, the post office offers its customers the option of time deposits for a duration of one to five years. In this video, we will provide you with all the information if you wish to invest in one of the SBI’s FD plans or one of the post office time deposit schemes.

Post Office Deposit Schemes

The post office FD scheme is known as the time deposit scheme. Customers can invest in FDs for a year, two years, three years, or five years, according to information provided on the post office’s official website. Customers receive 6.9 percent interest for one year, 7.00 percent for two years, 7.0 percent for three years, and 7.5 percent for five years. Please note that both normal post office and senior citizen customers benefit from the same rate of interest.