INSUBCONTINENT EXCLUSIVE:
FD rates: State Bank of India and India Post pay interest rates to the tune of 5.75-7.8% on term depositsMost lenders today provide two
particular lock-in period
A recurring deposit, also a type of term deposit, enables the investor to contribute to the account on regular intervals, unlike a fixed
deposit which requires a lump-sum payment
Government-owned institutions such as State Bank of India, the country's largest bank, and India Post - the postal network of the country
interest ratesSBI pays interest at the following rates on retail domestic term deposits below Rs 2 crore:TermInterest rate with effect from
February 22, 2019For general publicFor senior citizens7 days to 45 days5.75%6.25%46 days to 179 days6.25%6.75%180 days to 210
days6.35%6.85%211 days to less than 1 year6.4%6.9%1 year to less than 2 year6.8%7.3%2 years to less than 3 years6.8%7.3%3 years to less than
5 years6.8%7.3%5 years and up to 10 years6.85%7.35%(Source: sbi.co.in)India Post (post office) FD, RD interest ratesThe Department of Posts
pays the following interest rates on the funds in its time deposit (term deposit) accounts:TermInterest rate with effect from January 1,
20191 year7.00%2 years7.00%3 years7.00%5 years7.80%(Source: indiapost.gov.in)On recurring deposits, the post office pays interest at the
Find out the interest rates for June quarter)Financial advisors say recurring deposits are more suitable for salaried investors as it
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