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- Post Office vs SBI FD Interest Rates 2025; Saving Schemes Benefits ExPLAINED
New Delhi16 minutes ago
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State Bank of India (SBI), the country’s largest bank, has recently cut the interest rates of fixed deposits i.e. FD. In such a situation, if you are planning to get FD, then you must know about the interest rates of the National Savings Time Deposit Account of the post office before this.
Interest is being paid up to 7.5% in this scheme right now. We are telling you about the interest rate and time deposit account of SBI Fixed Deposit. So that you can invest in the right place according to your place.
Interest up to 7.5% in National Savings Time Deposit Account
- It is a kind of FD. You can get fixed returns by investing for a fixed period.
- The time deposit account offered an interest rate from 6.9% to 7.5% for a period of 1 to 5 years.
- It has to invest a minimum of 1000 rupees. There is no limit for maximum investment. Click here for more information related to this scheme
Where will money be double?
- National Savings Time Deposit Account: In this, maximum interest is getting 7.5%, in such a situation, if you invest money in this scheme according to Rule 72, then it will take about 9 years 6 months for the money to double.
- SBI FD: In this, maximum interest is getting 6.45%, in such a situation, if you invest money in this scheme according to Rule 72, then it will take about 11 years to double the money.
What is Rule of 72? This special rule of finance is Rule of 72. Experts consider it to be the most accurate rule, which is decided how long your investment will double. You can understand this that if you have selected a special scheme of the bank, where you get 8% interest annually. In such a situation, you have to give a share of 8 in 72 under Rule of 72. 72/8 = 9 years, that is, under this scheme, your money will double in 9 years.
Tax exemption benefits by investing for 5 years On investing for 5 years in Time Deposit Scheme and FD, you can avail tax exemption under Section 80C of Income Tax Act 1961. Under this, you can take advantage of income tax exemption on investment of up to Rs 1.50 lakh. That is, this earnings are reduced by your total annual income. However, this benefit will be found only when you file ITR under the old income tax regime.
What to do?
You should take a decision based on your goals and needs:
- If you want to invest for more interest and long period, then the post office time deposit is better.
- If you want flexibility (short time FD) and online feature, then choose SBI FD.
- Both schemes are safe, but keep in mind the amount, duration, and tax status of your investment.
- Interest rates vary, so check the latest rates before investment.
