HDFC Bank FD come in varying tenures and span various contributions by investors looking to grow their money by huge leaps and bounds and not just beat inflation. Yes, inflation is a money killer and the investor must make sure his money is growing much faster than the rate it is being degraded by inflation. Not just that, the investor must make his money grow at a much higher growth rate than is ordinarily possible so that he has a huge amount saved that will act as a cushion in bad times and as a lifestyle enhancer for the family in good times. Currently, HDFC Bank FD interest rate is at a huge high and investors should take advantage of it.
Bank fixed deposits are a very safe way to make your money grow by leaps and bounds. In stock markets, you may be offered a double-digit (10+%) return on your money, but there is a huge amount of risk involved.
Now, HDFC Bank FD calculator shows that an investor can earn a majestic 7.90% interest rate for a tenure of 55 months! So, if you were to invest Rs 5 lakh for this period, HDFC Bank FD will make a massive profit for you. Your Rs 500000 will turn into Rs 7,15,460. Yes, when the HDFC Bank FD reaches maturity, you will have made a profit of Rs 2,15,460! Do note that this 7.90% FD interest rate is applicable to senior citizens.
However, for the general public, the interest rate on this HDFC Bank FD is also phenomenal. It is at a magnificent 7.40%! So, the same HDFC Bank FD, with the same amount of Rs 5 lakh, will give you back a sum of Rs 6,99,564 on maturity. The HDFC Bank calculator shows that the profit made by the investor would be an amazing Rs 1,99,564 within this short period. In effect, you would be watching your money grow without doing anything at all.
Note: The sums mentioned here are estimates, the actual amounts would be provided in the bank FD receipt.
HDFC Bank FD calculator: Make a profit of Rs 2,15,460 from your bank FD of Rs 500000 this way. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
