New Delhi: For conservative investors seeking gradual wealth creation, Fixed Deposits (FDs) offer a secure investment option with guaranteed returns. Fixed Deposits yield returns between 6 to 7 per cent annually, providing both safety and reasonable growth. If you want to double your money in FD, you will have to invest the amount for at least 10 years. There are few bank FDs that let you double your money. Let’s take a look:
SBI FD double in how many years
State Bank of India (SBI) offers annualised returns of 6.5 per cent to 7.5 per cent on a tenure of 10 year, with rates varying between regular citizens and senior citizens. For instance, an investment of Rs 1 lakh would grow to Rs 1.87 lakh for regular citizens and Rs 2.06 lakh for senior citizens.
Highest interest rates on 3-year FD
In how many years FD will double in HDFC Bank
HDFC Bank offers 7.5 per cent interest on 10-year deposits for senior citizens, which results in significant growth potential. For instance, if you invest Rs 1 lakh, it grows to Rs 2.06 lakh over a decade.
Bank of Baroda FD rate 10 year tenure
Bank of Baroda (BOB) offers 6.5 per cent interest to regular citizens and 7.5 per cent to senior citizens on 10-year deposits. This translates to an investment of Rs 1 lakh growing to Rs 1.87 lakh for regular citizens and Rs 2.06 lakh for senior citizens.
PNB?
Punjab National Bank (PNB) provides an annualised interest of 6.55 per cent to regular citizens and 7.35 per cent to senior citizens for 10-year fixed deposits. For example, if a regular investor had invested Rs 1 lakh in a term deposit for 10 years, the investment would have grown to Rs 1.88 lakh, while for a senior citizen, it would have grown to Rs 2.03 lakh.
ICICI Bank FD rate for 10 years
ICICI Bank also provides 7.5 per cent interest on 10-year deposits, making it an attractive option for senior citizens looking to double their investment. If you invest Rs 1 lakh with the State Bank of India, after 10 years, the investment grows to Rs 1.96 lakh for regular citizens and Rs 2.06 lakh for senior citizens.
Bank
Interest (%)
Maturity amount (General)
Maturity amount (Senior Citizen)
HDFC Bank
7.5
Rs 1.96 lakh
₹2.06 lakh
ICICI Bank
7.5
Rs 1.96 lakh
₹2.06 lakh
SBI
7.5
Rs 1.87 lakh
₹2.06 lakh
Bank of Baroda
7.5
Rs 1.87 lakh
₹2.06 lakh
Punjab National Bank
7.35
Rs 1.88 lakh
₹2.03 lakh
Stories
Click to read in detail
New Tax Regime
How can I switch to new tax regime?
MF & Tax
Are mutual funds eligible for deduction
HRA & tax
No HRA component in salary: How to save tax
ITR due date
Can Income Tax Return be filed after due date?
Bank FDs to double your money: If you want to double your money in Fixed Deposit schemes, you will have to invest the amount for at least 10 years. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
