5 Year FD Interest Rate: In India, a fixed deposit is considered a safe investment scheme, which is liked by people of every age group. After the total one percent reduction in repo rate by the Reserve Bank of India this year, many banks in the country have reduced their FD interest rates. Despite this, some institutions are still giving attractive returns, among which the Post Office is currently at the forefront. At present, the post office’s five-year tenure FD is offering higher interest than the major private and government banks of the country, which becomes an important option for investors.

5-year FD in the post office

The post office is providing 7.5 percent interest to its customers on fixed deposits with a tenure of five years. This interest rate is the same for both general and senior category customers. At present, no bank in the country is offering returns of up to 7.5 percent for a period of five years, making post office FDs more attractive for long-term investors.

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SBI’s 5-year FD

State Bank of India offers interest ranging from 6.05 percent to 7.05 percent on its five-year FD accounts. The interest rate for general customers is fixed at 6.05 percent, while senior citizens are given an additional benefit of 7.05 percent. These rates of the country’s largest government bank, although considered suitable for those seeking a stable income, are lower than those of the post office.

HDFC Bank 5-year FD

HDFC Bank, one of the big names in the private sector, is offering interest ranging from 6.40 percent to 6.90 percent to its customers on FDs with a tenure of up to five years. The bank offers 6.40 percent returns to ordinary investors and 6.90 percent returns to senior citizens. These rates are considered balanced for those looking for a safe and reliable investment, but the post office returns are still high.

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Punjab National Bank interest rates

Punjab National Bank offers interest ranging from 6.25 percent to 7.05 percent to its customers on a five-year FD. The interest rate in the general category is 6.25 percent, while senior citizens get 6.75 percent, and senior customers above 80 years of age get up to 7.05 percent. Age-based interest rates offered by PNB help in giving better options to investors, but for general customers, this rate also remains lower than the post office.