New Delhi: Investment on Fixed Deposit (FD) are immune from market volatility impact. They offer guaranteed return for lock in period of FD tenure. Many Banks offer inflation beating interest rate on their FDs. Generally a higher interest rate is offered to Senior citizens (aged above 60 years) than General Citizens on Bank FDs. India’s largest lender State Bank of India (SBI) and HDFC Bank is offering the highest interest rate of 7.50 per cent on different tenures. Check how much interest you will earn on an investment on Rs 5 lakh on SBI and HDFC FDs.
SBI FD Interest rates
SBI has two tenures for 5 year FD – 3 years to less than 5 years and 5 years and up to 10 years. On an investment of Rs 5 lakh, investors can earn different interest on different tenures mentioned below:
Tenure: 3 years to less than 5 years
Interest rate for General Citizens: 6.75 per cent
Maturity Amount: Rs 6,98,749
Total Interest Earned Rupee: Rs 1,98,749
Interest rate for Senior Citizens: 7.25 per cent
Maturity Amount: Rs 7,16,130
Total Interest Earned: Rs 2,16,130
Tenure: 5 years and up to 10 years
Interest rate for General Citizens: 6.50 per cent
Maturity Amount: Rs 6,90,210
Total Interest Earned: Rs 1,90,210
Interest rate for Senior citizens: 7.50 per cent
Maturity Amount Rupee: Rs 7,24,974
Total Interest Earned Rupee: Rs 2,24,974
HDFC FD Interest rates
HDFC Bank is offering an interest rate of 7 per cent to general citizens and 7.50 per cent to senior citizens for FD maturing in 4 Year 7 Months 1 day < = 5 Years and 5 Years 1 day – 10 Years. With 7 per cent interest rate, on an investment amount of Rs 5,00,000.00 and the interest earned on your investment is Rs 2,07,328.00 on a 5 year FD. Senior Citizens are being offered a higher interest rate of 7.50 per cent. On an invested amount of Rs 5,00,000.00, they can earn interest of Rs 2,24,904 in 5 years.
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SBI and HDFC FD rates: State Bank of India and HDFC Bank`are offering interest rates of 7.50 per cent on different tenures. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
