If you have money to invest and you are done with your investments in the Public Provident Fund and the Employees’ Provident Fund, then you must try out bank fixed deposits. And here, we tell you all about how to turn your Rs 5 lakh into over Rs 600000. The HDFC Bank FD calculator will show you how it all works. You will need to track and locate the best HDFC FD interest rate available as well as tenure.
These FD are recommended for everyone who does not want to put their money at risk by investing in stock markets where the volatility is very high even though the returns may well cross the 10% mark.
So, those who don’t have the stomach for such a rollercoaster ride, should simply turn up at a bank and start their FD with the amount they have in mind.
Let us say that you are a diligent saver and have accumulated an investible amount of Rs 5 lakh in your bank account. Now, you should turn up at HDFC and fill out the form or do it online. Here is the breakup for your FD: First of all, you will be investing Rs 5 lakh. There is a HDFC FD interest rate of 7.15% available. This is available for a tenure of 3 years (35 months).
Now, at the end of 3 years, for your Rs 500000, HDFC will give you back Rs 618,448! The estimated returns, via the high HDFC FD interest rate, is as high as 118,448. And you earned this money without spending virtually any time on it apart from starting the HDFC FD.
And just a couple of things that you should know is that the HDFC FD must not be broken before maturity. Second, just a few days before the FD matures, go to the branch and inform them in writing that you do not want any auto-renewal on this FD and that both the principal and the interest should be returned to your savings bank account. That will ensure you took full value from your HDFC FD and its high interest rate.
HDFC Bank FD calculator will explain in simple terms how an investor can turn Rs 5 lakh into Rs 600000 without any risk or effort. This is courtesy the high HDFC FD interest rate. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
