Fixed deposits are the best investment vehicles for those who do not want to be bothered about tracking how their wealth is moving on a daily basis. In fact with FDs, an investor will know that with every passing day, he is getting richer and richer. And that brings us to the most important thing, which is, getting a high interest rate. Notably, Axis FD interest rate has been hiked recently and the lender is offering a whopping 7% interest rate to depositors. This can be a very big generator of money for a depositor who is focused on his financial goals but does not want to keep track of his investments. The result of the investment can be easily known through the Axis FD calculator as shown below.
So, how to get the 7% Axis FD interest rate to make Rs 2 lakh for you? Let us start with an assumption that the investor invests as much as Rs 5 lakh in this Axis Bank FD. The tenure for the same is 60 months or 5 years.
Details for Axis FD calculator:
Axis Bank FD Investment: Rs 500000
Axis Bank FD tenure: 5 years
Type of Axis Bank customer: Normal (not a senior citizen)
After the Axis Bank FD calculator crunches the numbers, here is what the investor gets:
Axis Bank FD maturity value: Rs 707389
Interest amount earned: Rs 207389
In effect, the depositor earned over Rs 200000 by simply opening the Axis Bank FD and transferring his money from a savings bank account. Axis Bank interest rate in savings bank account is just around 3% and it would be silly to leave it there for any time at all.
Apart from Axis FD interest rate, here is why you should invest in FD:
Axis FD
Benefits of FDs
FDs Have Guaranteed Returns
FDs offer assured returns, making them a stable investment choice.
FDs are Low Risk
FDs are relatively low-risk compared to other investments like stocks.
FDs Preserve Capital
Investors’ Principal amount is safe and protected.
FDs Provide Regular Income
Interest earned can be a regular income stream for everyone
FDs Have Flexible Tenure
Tenures can suit financial goals of investors – from months to years.
FDs Are Easy to Open
Opening an FD account is simple.
FDs Have Liquidity Options
FDs offer liquidity via premature withdrawal although penalties are there.
FDs Enable Diversification
Helps in diversifying investment portfolio in the non-risky segment.
FDs Are An Inflation Hedge
FDs are a hedge against inflation.
The Axis FD calculator has shown you the benefits of FDs in numbers too.
Take advantage of the Axis FD interest rate, just invest Rs 5 lakh and earn over Rs 200000. Check Axis FD calculator below. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
