Rs 1 lakh investment in these guaranteed-income schemes becomes Rs 1.44 lakh in 5 years, offers Rs 1.5 lakh 80C tax benefit a year
5-year SBI FD vs 5-year post office FD: Did you know that money parked in a five-year fixed deposit (FD) not only grows steadily and safely but also helps you avail income tax benefits up to Rs 1.5 lakh in a financial year? This article compares two such term deposit instruments. Read on to learn more.
Post Office vs SBI FD interest rate: As of March 12, 2024, senior citizen depositors get interest at the rate of 7.5 per cent per annum (compounded quarterly) on five-year fixed deposits in SBI and India Post. | Image: Pexels