Post office offers higher returns on fixed deposits than banks, find out which bank pays how much interest


  • SBI pays 5.4% interest annually on FDs




  • The Post Office Time Deposit Scheme carries an interest rate of up to 6.7%




Recently, besides SBI and Punjab National Bank, many other banks have also reduced interest rates on fixed deposits. In this case, if you want to get more interest on your money, the post office time deposit scheme may prove to be a good option for you. Here are the interest rates on some of the major banks and time deposits in the country so that you can invest your money in the right place at your own risk.





Time deposit scheme
This is a type of fixed deposit (FD) in which you can take advantage of fixed returns and interest payments by investing money for a fixed period of time. The Post Office Time Deposit Account offers interest rates ranging from 5.5 to 6.7 percent for a period of 1 to 5 years. Tax exemption under Section 80C of the Income Tax Act, 1961 can be availed on investment for 5 years. It requires an investment of at least Rs. As well as no investment limit.





ICICI Bank





  • 5.55 per cent on 1-year FD




  • 5.75 per cent on 1 year to 2 year FD




  • 5.75 per cent on 2 to 3 year FDs




  • 5.75 per cent on 5-year FD




HDFC Bank





  • 5.60 per cent on 1-year FD




  • 5.60 per cent on 1 year to 2 year FD




  • 5.75 per cent on 2 to 3 year FDs




  • 5.75 per cent on 5-year FD




Bank of Baroda (BoB)





  • 5.55 per cent on 1-year FD




  • 5.55 per cent on 400 days to 2 years FD




  • 5.55 per cent on FDs from 2 years to 3 years




  • 5.70 per cent on 5-year FD








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State Bank of India (SBI)





  • 5.10 per cent for less than 1 year to 2 years




  • 5.10 per cent for less than 2 years to 3 years




  • 5.30 per cent for less than 3 years




  • 4.20 per cent on 5-year FD




  • 5.40 per cent from 5 years to 10 years