Which interest rate is better bank or post office?
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Which interest rate is better bank or post office?
The Post Office Time Deposit Account (TD) is much better than bank FD. In this, you get 6.7 per cent interest for five years. One of the most preferred investments of post office is Time Deposit Scheme.
Is post office safe than bank?
The deposited money remains safe as the government provides security. Availing the FD facility in post office banks is very easy. According to the postal department, a user can avail the FD facility with 1,2, 3 and 5 years of maturity. Government of India guarantee is given on FD in the post office.
What is maximum interest in post office?
Comparison of the various Post office savings schemes
| Scheme | Interest Rate | Maximum Investment |
|---|---|---|
| Post Office Savings Account | 4\% per annum (p.a.) | No limit |
| Post Office Time Deposit Account (TD) | First year – 5.5\% p.a. Second year – 5.5\% p.a. Third Year – 5.5\% p.a. Fourth Year – 6.7\% p.a. | No limit |
Which bank has highest interest rate?
Fixed Deposit Interest Rates by Different Banks
| Bank | Tenure | Interest Rates for General Citizens (per annum) |
|---|---|---|
| HDFC Bank | 7 days to 10 years | 2.50\% to 5.50\% |
| Axis Bank | 7 days to 10 years | 2.50\% to 5.75\% |
| Union Bank of India | 7 days to 10 years | 3.00\% to 5.50\% |
| Canara Bank FD | 7 days to 10 years | 2.90\% to 5.25\% |
What is the interest rate in post office monthly income scheme?
6.60 per cent per annum
For example, Post Office Monthly Income Scheme interest rate is currently at 6.60 per cent per annum. So, if an investor invests in this post office scheme, it will get 6.60 per cent annual return on one’s money at the time of maturity.
Where can I deposit money for higher interest?
Top 10 investment options
- Direct equity.
- Equity mutual funds.
- Debt mutual funds.
- National Pension System.
- Public Provident Fund (PPF)
- Bank fixed deposit (FD)
- Senior Citizens’ Saving Scheme (SCSS)
- Pradhan Mantri Vaya Vandana Yojana (PMVVY)
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