Money on your mind? Want to double the amount that you have? You are in the right place as we will explain how to do it easily in simple steps without taking any risk at all and you will get to double your money. We are talking about the HDFC FD interest rate that will help you double your money.
HDFC Bank interest rate on a 10-year deposit is as high as 7.5% for senior citizens. You can take this opportunity to invest a certain amount and laugh all the way to the bank with double the amount that you started with.
So, how to double your money with this high HDFC Bank FD interest rate? First of all, you need to start the fixed deposit and invest Rs 100000 in it.
HDFC FD Calculator:
Total investment in HDFC Bank FD: Rs 100000
HDFC Bank FD interest rate: 7.5%
HDFC Bank FD tenure: 10 years
Do understand at the outset that you must not break this FD before maturity as that can be costly exercise for you and may lead to losses.
With the HDFC FD calculator crunching the numbers, here is what you will get on maturity – a doubling of your money!
HDFC FD return on maturity
HDFC Bank FD maturity value: Rs 210,235
Interest earned: Rs 110,235
In effect, much to the joy of the fixed deposit investor, his one lakh rupees has turned into over rupees two lakh.
The investor must ensure that a few days before the maturity of the FD, go to the bank with a letter saying that there should not be any auto-renewal applied. Inform the bank that it must send both the principal amount and the interest earned to the savings bank account of the investor. Auto-renewal often leads to investor’s FD earning a lesser amount on auto-renewal.
Note: The returns here are indicative and may be different if any of the circumstances change.
Investors can definitely double their money and here is how. Just check out the high HDFC FD interest rate that will help you double the money from Rs 1 lakh into over Rs 2 lakh. Check HDFC FD calculator calculation. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
