Investment: Bank, post office or FD, where do you get the highest returns, here are the details..

Fixed deposit i.e. FD is still the first choice of investors. It is a popular scheme that gives reliable and stable returns. This scheme provides the facility of depositing a lump sum amount for a fixed time period and earning interest on it. The biggest feature of FD is that it provides higher interest rates than savings accounts. Which is attractive and very beneficial for investors.

Investors also do not have any risk in this. Because interest rates are given to it under the rules of the scheme. Now the question arises of where to make a fixed deposit and where will good returns be received. For this, investors have two options, either they can keep their deposits in banks or they can invest in post office.

How much return is received

The fixed deposit facility is available in both banks and post offices. In such a situation, it becomes necessary for investors to choose whether to invest in banks or post offices. So let us tell you about the returns available in banks and post offices. Although, for general citizens, 7.4% interest is returned on FD of 5 years. On the other hand, senior citizens are returned at the rate of 7.9% interest.

SBI Bank

In the country's largest bank, State Bank of India, interest rates for fixed deposits vary according to the time period. SBI gives interest rates up to 7% for a period of one to five years. It gives a 6.75% interest rate on FD of 3 to 4 years and it is 6.5 percent for a period of five years.

Bank of Baroda

Bank of Baroda provides a 7.3% interest rate to general citizens on FD of more than one year, while it gives a 7.8% interest rate for senior citizens.

Union Bank of India

Union Bank of India gives 7.3% interest for a period of one to two years and 7.8% interest for senior citizens. Government and private banks provide short, mid, and long-term periods.

HDFC Bank

At the same time, investors get good returns on FDs in private banks as well. HDFC Bank gives a 7.4% interest rate to general citizens for a period of five years, while there is a provision of giving 7.9% interest to senior citizens.

Kotak Mahindra Bank

Kotak Mahindra Bank provides 7.4% interest to general citizens and 7.9% interest to senior citizens on FDs of more than 1 year duration.

ICICI Bank

ICICI Bank provides different returns on FDs for different years. It gives 6.70% to 7.25% interest for 1 year to 2 years. It provides a 7.00% interest rate for 3 years to 5 years.

Bandhan Bank

It gives an 8.05% interest rate for general citizens and an 8.55% interest rate for senior citizens on FDs of 15 months duration.

IndusInd Bank

On FDs of more than 365 days, it gives 7.99% interest to general citizens and 8.49% interest to senior citizens.

Interest ranging from 6.9% to 7.5% in the post office

In the post office, investors are given interest ranging from 6.9 percent to 7.5 percent in a fixed period. 6.9% interest is offered on a year FD in the post office. 7.5% interest is given on five five-year FD. At the same time, some banks offer 6.5% interest on five years or longer periods, while short-term FDs get more interest than long-term FDs.

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