Investors are increasingly looking to make a quick buck on the stock markets. However, bank fixed deposits can provide huge money-making opportunities without taking any risk at all. And there will be no anxiety, stress, and frustration that a stock market investment makes investors go through. HDFC Bank FD interest rate has seen a spike recently and notably, it is beating the Public Provident Fund (PPF) interest rate. HDFC Bank FD calculator is showing a massive interest rate availability of 7.4% for a tenure of 55 months. PPF interest rate on the other hand is 7.1%.
In case you are interested in making a huge amount of money in quite short a time, then check out the number crunching that the HDFC Bank FD calculator has done for this tenure. If an investor starts a HDFC Bank FD with Rs 6,00,000 for a tenure of 55 months, then he is all set to earn as much as Rs 2,39,483 in interest. This is applicable to the general public.
However, if you are a senior citizen, then a HDFC Bank FD, of the same amount and tenure as above, will provide a gain as high as Rs 2,58,562. The interest rate for senior citizens for a FD of the same tenure is a whopping 7.9%.
However, there is one thing an investor must note before taking any step. It should be clear that PPF investment is totally income tax free. Bank FD is not. An investor will have to pay income tax on his earnings. There is no getting away from it.
However, what bank FD can do is make sure that the investor will not have to worry about anything after having invested his money – just like in PPF. Having said that, depending on age, an investor must have a well-diversified portfolio weighed against his risk appetite. Generally, the younger you are the greater the exposure to risky assets can be made.
HDFC Bank FD interest rate beats PPF! A high HDFC FD interest rate brings a great opportunity to earn over Rs 2 lakh on your investment. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
