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Consequently, purchasing post office TDS gives the investor tax savings of up to ₹1.5 lakh. However, post office term deposit of 5 years is eligible for tax deduction under Section 80C of the Income Tax Act, 1961. Investments in bank RD are not exempt from taxation under Section 80C of the Income Tax Act of 1961. Post Office RD vs SBI RD vs HDFC Bank RD: Income tax benefits Post Office offers RDs for a tenure of 5 years only.Īn SBI or HDFC Bank RD account can be opened by cheque/cash, but an RD account in a Post Office can be opened by cash only. HDFC Bank offers RD ranging from six months to 120 months (10 years).

SBI recurring deposits have maturity ranging from 1 year to 10 years. Post Office RD vs SBI RD vs HDFC Bank RD: Maturity

These rates are effective from January 24, 2023.ĥ-year RD rates compared: Post Office vs SBI vs HDFC Bank HDFC Bank offers an interest rate ranging from 4.50%-7% on RDs maturing in six months to ten years.

Hdfc recurring deposit