You can get a fixed amount FD for seven days to several years. You get a hefty amount along with interest on maturity. You can make FD according to your need.
FD means fixed deposit, the way to invest your money which can give you more returns. In FD, you deposit the amount in the bank for a fixed time and you get a fixed interest on it. Today we are going to tell you about the top 5 banks where if you have got FD done or are thinking of getting it, then you are going to be in profit in the month of September. Let us tell you that the interest rate fixed by banks ranges from 4 to 11 percent.
Which banks
If you have taken any FD for 5 years in the banks about which we are telling you, then you are going to benefit a lot this month. FDs in these banks will also be tax saving for you.
These banks are-
- If you have made an FD in RBL Bank, then you will get interest at the rate of 6.50 percent.
- After this IndusInd Bank will pay interest at the rate of 6 percent.
- Karur Vysya Bank will also get interest at the rate of 6 percent.
- DCB Bank will get interest at the rate of 5.95.
- Those who make FD in IDFC First Bank will get interest at the rate of 5.75 percent.
How much profit on one year FD
- If you have made an FD in RBL Bank or are thinking of getting it, then you will get interest at the rate of 6.10 percent.
- After this IndusInd Bank will pay interest at the rate of 6 percent.
- Similarly, the depositor will get 5.55 percent interest on FD in DCB Bank.
- In Bandhan Bank, you are going to get interest at the rate of 5.50 percent on FD.
- This depositor is going to get interest at the rate of 5.50 percent in IDFC First Bank.
Why FD is a preferred option
Fixed Deposit (FD) has always been considered as the preferred option of the people for safe investment. Most of the people do FD. You can get a fixed amount FD for seven days to several years. You get a hefty amount along with interest on maturity. You can make FD according to your need. If you have more money than you need now and you think that you will need this money after 5 or 10 years, then you can get FD for the same time. Obviously, the returns on a 10-year FD will be much higher than that of a one-year one. So you can get FD for as long as possible according to your need.
Know about interest rates
It is very important that you must know about the interest rates and be satisfied before getting an FD. At present, the interest rates of FD are around 6 to 7 percent. Senior citizens are given 0.25% more interest. The amount invested in the cumulative mode is locked till maturity and gives a lump sum return. On the other hand, in the non-cumulative mode, interest is paid at a fixed rate every month, every three months or every half yearly or annually.
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