It is the season of high fixed deposit interest rates. A number of banks have rolled out some mouth-watering money making opportunities for their account holders. Among them, HDFC Bank FD interest rate is truly eye-ball grabbing. The bank has rolled out an interest rate that is as high as 7.90% and along with the tenure it will definitely give massive returns to the account holder.
Notably, even as the stock markets have stolen a march over banks in terms of attracting liquidity as the profit-making opportunities have increased in that space, banks are looking to roll out offers that are designed to lure them back. While stock markets can offer returns of anything starting from 10% and higher, there is a huge amount of risk involved and investors can even lose their money. With banks, the returns may not be as high, but they offer these returns with the highest of safety for the investors’ principal and interest earned.
HDFC Bank FD interest rate of 7.90% is available now and is applicable on a tenure of anything between 35 months to 55 months. Notably, this high interest rate is available to senior citizens and not to the general public. The returns are guaranteed and there is no uncertainty involved there. In stock markets, you would probably be frequently checking how your portfolio is doing virtually on a daily basis and trying to figure out the best time to sell. This can be quite stressful.
Money-making opportunity
If you were to invest a sum of Rs 800000 in this HDFC Bank FD for a period of 55 months allowable, the HDFC FD Calculator shows that you will have earned as much as Rs 344969 on maturity. This is just the interest. In effect, you managed to earn this while you were sleeping, so to speak. You will get Rs 1144969 in your bank account after the tenure is over.
HDFC Bank FD interest rate of 7.90% can give you a massive earning of Rs 3.4 lakh on your investment of Rs 8 lakh. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
