Fixed Deposit: Fixed Deposit (FD) is still a popular way to get safe and fixed returns. Banks have different FD interest rates and senior citizens get higher interest rates than general customers.
Fixed Deposit: Fixed Deposit (FD) is still a famous way to get safe and fixed returns. FD interest rates of banks vary and senior citizens get higher interest rates than general customers. In this, a fixed amount is deposited for a fixed period. Let us know what interest rates are being offered on FD in major banks like SBI, PNB, BoB, HDFC, ICICI and Canara Bank and how much maturity amount will be received on an investment of Rs 5 lakh.
SBI (State Bank of India) FD Interest Rates
SBI gives 7.25% interest rate to general citizens on its 444 days Amrit Vrishti FD scheme. At the same time, the interest rate on 1 year, 3 year and 5 year FD is 6.80%, 6.75% and 6.50% respectively.
Return on investment in 1 year: Maturity amount for an investment of Rs 5 lakh will be ₹5,34,877.
Return in 3 years: Maturity amount ₹6,11,196.
Return in 5 years: Maturity amount ₹6,90,210.
PNB (Punjab National Bank) FD interest rates
PNB offers 7.25% interest on its 400 days FD scheme. The interest rates on 1 year, 3 year, and 5 year FDs are 6.80%, 7%, and 6.50% respectively.
Return on investment in 1 year: Maturity amount ₹5,34,877.
Return in 3 years: Maturity amount ₹6,15,720.
Returns in 5 years: Maturity amount ₹6,90,210.
Canara Bank FD Interest Rates
Canara Bank offers 7.25% interest on FDs of 444 days. The interest rates on 1 year, 3 year, and 5 year FDs are 6.85%, 6.80%, and 6.70%, respectively.
Return on investment in 1 year: Maturity amount ₹5,35,140.
Return in 3 years: Maturity amount ₹6,12,099.
Return in 5 years: Maturity amount ₹6,97,033.
BoB (Bank of Baroda) FD Interest Rates
BoB offers 7.30% interest on 400 days FD scheme. Interest rates on 1 year, 3 year, and 5 year FDs are 6.85%, 7.15%, and 6.80%, respectively.
Return on investment in 1 year: Maturity amount ₹5,35,140.
Return in 3 years: Maturity amount ₹6,18,448.
Return in 5 years: Maturity amount ₹7,00,469.
HDFC Bank FD Interest Rates
HDFC Bank offers 7.40% interest on 4 years 7 months (55 months) FDs. The interest rates on 1 year, 3 year, and 5 year FDs are 6.60%, 7%, and 7% respectively.
Return on investment in 1 year: Maturity amount ₹5,33,826.
Return in 3 years: Maturity amount ₹6,15,720.
Return in 5 years: Maturity amount ₹7,07,389.
ICICI Bank FD Interest Rates
ICICI Bank offers 7.25% interest on FDs of 15 months to 2 years. The interest rates on 1 year, 3 year, and 5 year FDs are 6.70%, 7%, and 7%, respectively.
Return on investment in 1 year: Maturity amount ₹5,34,351.
Return in 3 years: Maturity amount ₹6,15,720.
Return in 5 years: Maturity amount ₹7,07,389.
Bank FD is a safe and fixed income source for investors who want to grow their money without any risk. Compare interest rates before investing and choose a bank as per your need. This investment can prove to be more beneficial for senior citizens as they get additional interest.
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