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SBI FD; SBI Fixed Deposit; Fixed Deposit; post office saving scheme; Saving Scheme; If you invest in it, you will get more interest than fixed deposit, know here special things related to it | If you invest in it, you will get more interest than fixed deposit, know here special things related to it

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  • SBI FD ; SBI Fixed Deposit ; Fixed Deposit ; Post Office Saving Scheme; Saving Scheme ; If You Invest In It, You Will Get More Interest Than Fixed Deposit, Know Here Special Things Related To It

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New DelhiOne hour ago

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Several small saving schemes are being run by the post office or post payment bank. By investing in these schemes, you keep your money completely safe and at the same time you get more interest than fixed deposit (FD). One of these schemes is the National Saving Certificate (NSC) scheme. By investing money in it, you will continue to get 6.8% interest. Let us tell you that most of the big banks in the country are paying a maximum of 5.50% interest on FD. Here we are telling you where you will get more benefit from investing.

National Saving Certificate (NSC)

  • 6.8% annual interest on investment in Post Office National Saving Certificate (NSC).
  • In this, the interest is calculated on an annual basis, but the amount of interest is given only after the period of investment.
  • To open an NSC account, you have to invest a minimum of 1000 rupees.
  • This account can also be opened in the name of a minor and in the name of 3 adults.
  • An account can also be opened under the supervision of a guardian in the name of a minor over 10 years of age.
  • The lock-in period of NSC is 5 years old. That is, you have to invest in it for 5 years.
  • Under this, under Section 80C of the Income Tax Act, you can save tax on the amount up to Rs 1.5 lakh.
  • You can invest any amount in NSC. There is no maximum investment limit. Click here for more information

See here how much interest the major banks of the country are paying on FD

Which bank is paying interest on 1 year FD

Bank Rate of interest (in%)
Bank of India 5.25
Punjab National Bank 5.20
Canara 5.20
Axis 5.15
SBI 4.90
HDFC 4.90
ICICI 4.90
Bank of baroda 4.90
Kotak Mahindra 4.50

Which bank is paying interest on 2-year FD

Bank Rate of interest (in%)
Axis 5.40
Canara 5.40
Bank of India 5.30
Punjab National Bank 5.20
HDFC 5.15
ICICI 5.15
SBI 5.10
Bank of baroda 5.10
Kotak Mahindra 5.00

Which bank is paying interest on 3-year FD

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Bank Rate of interest (in%)
Canara 5.50
Axis 5.40
ICICI 5.35
SBI 5.30
HDFC 5.30
Punjab National Bank 5.30
Bank of India 5.30
Bank of baroda 5.25
Kotak Mahindra 5.10

Which bank is paying interest on 5 years FD

Bank Rate of interest (in%)
Axis 5.75
Canara 5.50
HDFC 5.50
ICICI 5.50
SBI 5.40
Kotak Mahindra 5.30
Punjab National Bank 5.30
Bank of India 5.30
Bank of baroda 5.25

Investment for 5 years gets tax rebate benefits
One can avail tax exemption under Section 80C of Income Tax Act 1961 for 5 years investing in FD. You can get tax rebate on investments up to Rs 1.5 under 80C.

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