Bank vs Post Office Fixed Deposit Rates 2019

Interest rate of Bank FD and Post Office

A fixed deposit (FD) is a type of deposit account provided by banks for a fixed tenure at a fixed rate of interest.

At the end of the tenure, the interest amount is calculated on the principal amount and the total sum including interest is paid back to the depositor cumulatively. A fixed account earns higher interest rates than a regular savings bank account.

Interest rate of Bank FD and Post Office

Reserve Bank of India (RBI) lowered the repo rate by 35 basis points for the fourth time in a row. Many banks, including SBI, PNB HDFC, and ICICI Bank, have revised FD interest rates this month. Here are the latest revised Interest rates of leading banks.

Bank fixed deposits (FD) give you a return of around 4 to 7%, depending on the tenure and bank you choose.

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SBI latest FD interest rates

State Bank of India (SBI) gives an interest rate of 4.50% for FDs maturing in 7 days to 45 days. On FDs maturing in 46 days to 179 days, SBI offers an interest rate of 5.50%. For Fixed deposits maturing in 180 days to less than 1 year, SBI gives 5.80% interest.

1 year to less than 2 years maturity, SBI offers 6.50% interest. Fixed deposits maturing in 2 years to less than 3 years, SBI offers a 6.25% interest rate. Deposits maturing in 3 years to 10 years will give 6.25% interest.

 Post Office Postal bank Fixed Deposit Rates 2019

 

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Revised Fixed Deposit (FD) Interest Rates 2019

Here is the revised Fixed Deposit Interest Rates 2019 in India.

Banks FD Rates Tenure
POST OFFICE7.00% - 7.80%

1 year to 5 years.
SBI 4.50% - 6.50% 7 days to 10 years
HDFC Bank 3.50% - 7.00% 7 days to 10 years
Axis Bank 3.50% - 7.10% 7 days to 10 years
PNB 4.50% - 6.60% 7 days to 10 years
Bajaj Finserv 8.00% - 8.35% 12 months to 60 months
ICICI Bank 4.00% - 7.10% 7 days to 10 years

 

Postoffice Fixed Deposit (FD) Interest Rates 2019

Postoffice offers fixed deposit schemes that allow people to deposit their savings in time deposits and earn interests on them. Interest rates offered by India Post are among the highest rates offered for fixed deposits in India.

Customers have to deposit a minimum of Rs 200 in these FDs whereas there is no maximum limit under this scheme. Deposits made between these limits should be in multiples of Rs 200 only.

Here is the complete list of interest rates on Post office deposit schemes.

SchemeInterest rateMin Deposit AmountMax limit
Fixed Deposit for
1 year to 5 years Tenure
7.00% - 7.80%
200No limit
Savings Account4.0020No Limit
Post Office Monthly Income Scheme (Single)7.601500Single 4.5 Lakhs
Public Provident Fund7.905001.50 Lakhs p.a
Sukanya Samriddhi Accounts8.4010001.50 Lakhs
Senior Citizen Saving Scheme8.60100015 Lakh
Post Office Monthly Income Scheme (Joint)7.601500Joint 9 Lakhs
Kisan Vikas Patra7.601000No limit
Recurring Deposits7.2010No Limit

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