highlights
Investments in time deposits can be made for 1, 2, 3 or 5 years.
The term of the fixed-term deposit account can also be extended when it is due.
The state is currently paying interest on 1-year time deposits at 6.8 percent.
New Delhi. postal savings plans (post savings plans) and bank deposits (bank FD) It is considered the safest investment opportunity in our country. With these forms of investment, there is no threat of money loss and at the same time the interest rate is good. The Government now National Savings Time Deposit of Post Office (State Fixed Deposit) The account interest has been increased. Interest rates for term deposits are now between 6.8 percent and 7.5 percent (Interest rate on national savings deposits) Until now. This is a very attractive interest rate.
Fixed deposit is just one type of FD. Investments in Swiss Post time deposits can be made for 1, 2, 3 or 5 years. The fixed deposit account can be easily transferred from one post office to another. A fixed deposit joint account can also be opened. The term of the fixed-term deposit account can also be extended when it is due.
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What is the level of interest?
The state is currently paying interest on 1-year time deposits at 6.8 percent. 6.9% on 2-year time deposit account, 7% on 3-year time deposit account and 7.5% on 5-year time deposit account. At the same time, if you get 1-year FD from the State Bank of India, India’s largest bank, you’ll pay 6.8 percent interest, 7 percent on two-year FD, and 6.5 percent on three- and five-year FD. Likewise, the country’s leading private bank, HDFC, is offering 6.6 percent annual interest on one-year term deposits and 7 percent on two-, three- and five-year FDs.
Where to invest
If you want to invest money for five years, then you should invest in postal fixed deposit, because here you get 7.5 percent interest. At the same time, SBI and HDFC are getting less interest in FDs that are due in five years. On the other hand, if you want to invest for a two-year period, you should invest in Bank FD. SBI and HDFC Bank pay 7 percent interest on two-year FDs while receiving 6.9 percent interest on term deposits.
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Tags: Bank FD, Business news in hindi, FD prices, investment tips, post
FIRST RELEASED : April 11, 2023 at 7:30 am IST
