Day: June 14, 2018

Detailed Comparision – Post Office vs SBI: Interest rates of FDs and RDs – Find out which one is better

Detailed Comparision – Post Office vs SBI: Interest rates of FDs and RDs – Find out which one is better

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Post offices in India offer three saving and investment options to customers – recurring deposits (RDs), saving accounts and fixed deposits (FDs). The State Bank of India (SBI) also offers the same options to its subscribers. But which of the two is beneficial for you? While savings bank accounts are meant for regular savings, FDs and RDs are good for long-term investments, mainly for people who are planning to have savings for retirement. The difference between FD and RD is that the former is a one-time investment while the latter requires periodical contributions. Here is the comparison of interest rates on recurring deposits and fixed deposits of Post Office and SBI: Post office fixed deposits: The interest rate is according to the term of the account. For one year the interest rat