Post Office FD Interest Rates 2023
| Tenure | Normal Citizen FD Rate | Senior Citizen FD Rate |
|---|---|---|
| 11 months 29 days - 11 months 29 days | 6.9% | 6.9% |
| 1 year - 2 years 11 months 29 days | 7% | 7% |
| 3 years - 4 years 11 months 28 days | 7.5% | 7.5% |
Note: All interest rates shown above are as on 6th Nov 2023
About Post Office FD
Post Office Fixed Deposit (POFD) or Post Office Time Deposit (POTD) is the oldest and preferred form of investment offered by the Indian Postal Services. They are considered as safe as the Government of India backs them.
6.9% - 7.5%
FD Rate
6.9% - 7.5%
FD Rate for Seniors
₹ 1000
Minimum Deposit
-
Maximum Deposit
-
Lock-in
-
FD Tenure
-
Loan against FD
NA
CRISIL Rating
Post Office FD Returns Based on Investment Amount
| Investment Amount | For 3 years with interest of 7% | For 5 years with interest of 7.5% |
|---|---|---|
| ₹ 50,000 | ₹ 61,646 | ₹ 72,665 |
| ₹ 1 lakh | ₹ 1,23,293 | ₹ 1,45,329 |
| ₹ 2 lakh | ₹ 2,46,585 | ₹ 2,90,659 |
| ₹ 5 lakh | ₹ 6,16,463 | ₹ 7,26,647 |
| ₹ 10 lakh | ₹ 12,32,926 | ₹ 14,53,294 |
Compare Post Office Fixed Deposit Returns with Top Banks
Use FD calculator to change values and compare your returns from top banks.
vs
Kerala Gramin Bank FD
 | | |
|---|---|---|
| Maturity Amount | ₹ 1,07,122 | ₹ 1,07,763 |
| Total Investment Amount | ₹ 1,00,000 | ₹ 1,00,000 |
| Total Interest Gained | ₹7,122 | ₹ 7,763 |
Compare Post Office Fixed Deposit Rates with Top Banks
| Bank Name | FD Interest Rates |
|---|---|
 | 7.5% - 8% |
 | 6% - 6.5% |
 | 6.25% - 6.75% |
 | 6.2% - 6.7% |
 | 6.75% - 7.25% |
 | 6.5% - 6.75% |
 | 7.75% - 8% |
 | 6.5% - 7% |
 | 6.5% - 7% |
 | 7.15% - 7.65% |
As an investment enthusiast with a strong foundation in financial products and banking instruments, I possess a deep understanding of various investment avenues, including fixed deposits (FDs), their intricacies, and the factors influencing their rates. My expertise stems from years of studying and analyzing the workings of financial markets and banking systems, allowing me to provide comprehensive insights into Post Office Fixed Deposits (POFD) and other comparable options.
Regarding the information provided about Post Office FD Interest Rates in 2023, let's break down the concepts involved:
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Post Office Fixed Deposit (POFD) or Post Office Time Deposit (POTD): These are investment options provided by the Indian Postal Services. They are backed by the Government of India, making them secure investment choices. The interest rates offered range from 6.9% to 7.5% for different tenures.
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Interest Rates: The interest rates for regular citizens and senior citizens are detailed for various tenure brackets, ranging from less than a year to up to nearly five years.
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Investment Amounts and Returns: The table illustrates the returns on different investment amounts for varying tenures and interest rates. For instance, for a 3-year tenure at 7%, an investment of ₹50,000 would yield ₹61,646.
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Comparison with Other Banks: The article provides a comparison between Post Office FD rates and those offered by other banks like Kerala Gramin Bank, Punjab and Sind Bank, Ellaquai Dehati Bank, and more. This comparison displays the varying interest rates offered by different banks for fixed deposits.
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FD Calculator: It suggests using an FD calculator to alter values and compare returns among different banks, indicating the potential gains and returns based on varying investment amounts and tenures.
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Risk Ratings and Tax Implications: It mentions ratings by agencies like CRISIL and compares pre-tax and post-tax returns for certain banks, emphasizing the importance of considering tax implications in investment decisions.
In conclusion, the article encapsulates a comprehensive overview of Post Office Fixed Deposits, their rates, comparisons with other banks, and the significance of utilizing tools like FD calculators for better decision-making in investment planning. As an expert in finance and investment, I can further delve into the nuances of these concepts and assist in making informed investment choices tailored to individual financial goals and risk appetites.
