Fixed Deposit (FD) An investment option is to investors Fixed and safe return Provides Recently, many banks have their own Fd interest rates Increased, which can give investors more returns on their money. If you have your money 4 years 7 months If you deposit in FD, you ₹ 1,40,000 Can earn profits up to. This profit depends on the amount and interest rate of your investment.
For example, if you ₹ 1 lakh Invest and interest rate 7% per year If your total profit in 4 years 7 months is almost ₹ 31,000 will be. But if you ₹ 4 lakhs If you invest, then your profit is almost ₹ 1,24,000 It is possible Here we will discuss the FD interest rates and benefits of investment of some major banks.
FD Interest Rates
| Bank name | Interest rates (per year) |
|---|---|
| Axis bank | 6.70% – 7.75% (general), 7.20% – 8.00% (Senior Citizen) |
| Hdfc bank | 6.60% – 7.50% (general), 7.10% – 8.00% (Senior Citizen) |
| Federal bank | 7.00% – 7.90% (General), 7.50% – 8.40% (Senior Citizen) |
| Canara bank | 4.00% – 7.25% (general), 4.00% – 7.75% (Senior Citizen) |
| Kotak mahindra bank | 2.75% – 7.30% (general), 3.25% – 7.80% (Senior Citizen) |
| Icici bank | 6.50% – 7.50% (General), 7.00% – 8.00% (Senior Citizen) |
| SBI | 6.50% – 7.50% (General), 7.00% – 8.00% (Senior Citizen) |
FD investment benefits
- Fixed returns: Investing in FD, you get a definite and safe return.
- risk free: This is a risk -free investment option, in which your money is safe.
- Liquidity: You can break your FD prematurely, although it may have some penalty.
- tax benefits: On interest income on FD Tax deduction You can get the benefit of, but it depends on the amount of investment.
How to invest in FD?
- Select the bank: Select the bank of your choice and see their interest rates.
- Decide investment amount: Decide your investment amount and open the FD account.
- Choose maturity period: Choose the maturity period according to your requirement.
- Open FD account: Go to the bank or open an online FD account.
How to increase profits on FD?
- Select long period: Long -term FD has higher interest rates.
- Senior Civil Rates: If you are a senior citizen, you will get additional interest.
- Benefits of Compounding: Compound interest every year or quarter so that your returns increase.
Frequently asked questions (FAQs)
Q1: What is necessary to invest in FD?
To invest in FD, you need a bank account and investment amount.
Q2: How much interest is available on FD?
Interest rates on FD vary depending on bank and duration, but usually between 6% to 8%.
Q3: Is FD risk free?
Yes, FD is a risk -free investment option in which your money is safe.
Q4: What happens when FD is broken before time?
By breaking FD ahead of time, you may have to pay penalty and reduce interest rates.
conclusion
Fixed deposits are a safe and fixed returns investment option that can help you increase your money. If you deposit your money for a long period, you can get more interest. Senior citizens get additional interest rates, increasing their return. Therefore, investing in FD can be a good option to meet your financial plans.
Disclaimer, This information is given only for information objectives. Please note that the interest rates can change from time to time and its reality should be confirmed from the official website of the concerned bank.
