SBI vs Post Office: Where will you get more benefit on 5 year FD, understand the calculation on FD of ₹2 lakh
If you invest 2 lakh rupees in SBI for 5 years, then how much will you get in total and how much will you get if you invest in the post office? Understand from the calculation.
SBI vs Post Office FD Calculator: If you want to invest in a fixed deposit for a long time and are confused about whether to invest in a bank or post office, then here we are telling you about the 5-year FD of the post office and 5 year FD of State Bank. At present, you are getting a 7.5 percent return on 5 5-year FD in post office, while you will get 6.75 percent benefit on State Bank. Let us tell you on the basis of calculation that if you invest 2 lakh rupees in SBI for 5 years, then how much profit will you get and how much profit will you get if you invest in post office.
How much profit in bank
If you invest 2 lakh rupees in State Bank for 5 years, then you will get interest of Rs 79,500 at the rate of 6.75 percent. In this way, you will get a total of Rs 2,79,500 on maturity. On the other hand, if senior citizens deposit 2 lakh rupees in it for 5 years, then they will get more benefits. At present, senior citizens are being given interest at the rate of 7.25 percent on FD for up to 5 years. In such a situation, they will get a total of Rs 86,452 as interest and in this way, a total of Rs 2,86,452 will be available on maturity.
How much profit in the post office
If we talk about the post office, then at present 7.5 percent interest is being given in the post office. In such a situation, on investing 2 lakh rupees for 5 years, you will get 89,990 rupees as interest on maturity. In this way, a total of 2,89,990 rupees will be received on maturity. Senior citizens will also get the same amount on maturity. In such a situation, there is more profit in the post office on a 5-year FD.
The interest rate of other FDs of SBI
More than 1 year but less than 2 years: 6.80%
More than 2 years but less than 3 years: 7.00%
More than 3 years but less than 5 years: 6.75%
More than 5 years but up to 10 years: 6.50%
Senior citizens get .50 percent more.
Interest rates of other Post Office FDs
1 year FD: 6.00%
2 year FD: 7.00%
3 year FD: 7.10%
5 year FD: 7.50%
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