Bank FD Rate: If someone has a lump sum amount but does not need it immediately, the first thought that comes to mind is Fixed Deposit. Everyone thinks that it is better to invest the money in Fixed Deposit rather than leaving it in the account, this will at least give interest on that amount. But it is important to understand where you will get better interest. Here know which place among HDFC, ICICI, SBI and Post Office can give you more profit by investing Rs 1.5 lakh in 1 year FD.
SBI
If you invest in SBI, common people will get 6.50 percent interest on FD up to Rs 1 lakh, while senior citizens will get 7 percent interest. In such a situation, if 6.50 percent interest is applied on Rs 1.5 lakh, then the amount will be Rs 1,59,990 as maturity. At the same time, senior citizens will get a total of Rs 1,60,779 on maturity at the rate of 7 percent interest.
HDFC
HDFC Bank will give 6 percent interest to common people and 6.5 percent interest to senior citizens on FDs up to 1 year. In such a situation, on an investment of Rs 1,50,000, common people will get Rs 1,59,205 as maturity amount. Senior citizens will get Rs 1,59,990 as maturity amount.
ICICI
In ICICI Bank, the interest rate on 1 year FD is same as HDFC. It means that common people are being given interest at the rate of 6 percent and senior citizens are being given interest at the rate of 6.5 percent. In such a situation, the maturity amount will also be the same as that in HDFC. On an investment of Rs 1,50,000, common people will get Rs 1,59,205 as maturity amount. Whereas senior citizens will get Rs 1,59,990 as maturity
Post Office
Talking about post office, here one year FD is getting better interest than banks. Here interest will be given at the rate of 6.9 percent. In such a situation, on maturity, FD of Rs 1.5 lakh will give Rs 1,60,621.
