If you are looking to earn a big amount of money in a relatively short time, then you are in the right place. ICICI Bank FD interest rate is at a phenomenal high and you can easily take advantage of it if you have an investible surplus in your savings bank account. Check how you can earn over Rs 18000 easily.
In fact, you must never let your money lie in a savings bank account simply because it is reducing in value due to inflation. To make sure your money is increasing at a faster clip than inflation is reducing its value, you need to invest it in a bank FD. And here we provide information about the ICICI FD interest rate which is currently as high as 7.2% for deposits between 15 months to 18 months. If you are a senior citizen, you can earn .5% extra. Through the ICICI Bank FD calculator, you can see the way and level at which you can increase your money even as you sleep.
This is one of the easiest ways to earn money if you act in a disciplined way. Let us say you have Rs 200000 to invest and you put it all in this ICICI Bank FD that is offering 7.2% interest rate.
Interestingly, the ICICI Bank FD calculator will show you that the bank will pay you back a sum of Rs 2,18,746 on maturity. And all you had to do was shift the money lying idle in your savings bank account into the fixed deposit.
The earnings for you amounted to a nice sum of Rs 18,746.
Check the ICICI Bank FD breakup below:
7.20%: Interest Rate
Maturity Amount: Rs 2,18,746
Total Interest earned: Rs 18,746
Duration: 1 Yr 3 Mth 1D
On the maturity of this FD, make sure you don’t have the auto-renewal facility. You have to tell the bank to return the principal and interest to your savings bank account on the maturity of FD. Auto-renewal can have some unintended unpleasant consequences for the individual.
Do note that these are indicative values as per the ICICI Bank.
If you have Rs 200000 to invest, ICICI Bank FD interest rate of 7.2% will earn you an easy Rs 18,746 while you sleep. Check what ICICI Bank FD calculator indicates. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
