ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • IRDAI sets a target of 5 years for life insurance companies for greater penetration; proposes state-level committee
  • Dalal Street Corner: Bank, FMCG stocks help Nifty clear crucial hurdle of 15,800; what should investors do on Tuesday?
  • Despite windfall tax, brokerages remain bullish on oil & gas stocks; see up to 70% upside on ONGC, Oil India
  • Rupee settles flat at 78.94 against US dollar
  • Akasa Air showcases crew uniform; conducts proving flight test
Read in App
Business News » Personal Finance News

SBI vs PNB vs Kotak Mahindra Bank: Here is what you get for investing Rs 6 lakh in FD and RD for 5 years

Fixed deposit (FD) and recurring deposit (RD) are the conventional financial schemes which probably most of traditional savers are aware of. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
SBI vs PNB vs Kotak Mahindra Bank: Here is what you get for investing Rs 6 lakh in FD and RD for 5 years
FD vs RD: These instruments are as old as the modern banking system in India. Hybrid plans like mutual funds, and other equity-based plans came much later. Image source: PTI

Fixed deposit (FD) and recurring deposit (RD) are the conventional financial schemes which probably most of traditional savers are aware of. These instruments are as old as the modern banking system in India. Hybrid plans like mutual funds, and other equity-based plans came much later. Therefore, many people still prefer FD and RD as a safe avenue for parking their money. Both the schemes offer fixed return and safety to the investors. However, money invested in both the schemes for the same tenure will not give the same returns. Interest rates offered by various banks can be different as well. On FD you get higher returns, but the amount has to be invested in one go. On RD, you get a bit lower maturity amount compared to FD, but you can invest the money in small installments every month till the maturity. Here are the comparison of FD and RD rates and maturity amounts.

SBI FD vs RD:
If you invest Rs 6 lakh in SBI FD at the prevailing interest rate of 6.85 percent, you get Rs 8,42,631 on maturity. If you save Rs 10,000 in the recurring account for 5 years, the principal amount you accumulate will be 6 lakh, but the amount you get on maturity is Rs 7,13,296. These calculations were done on SBI calculator.

PNB FD vs RD: 
If you invest Rs 6 lakh in PNB FD account for 5 years at the prevailing interest rate of 7.5 percent,  you will get Rs 8,69,969 on maturity. If you invest Rs 10,000 every month in RD at the prevailing rate of 6.75 percent, you accumulate pricipal amount of Rs 5 lakh at the end of 5 years and get Rs 7,14,600 on maturity. The calculation was done on PNB calculator.

 

PNB RD calculator:

PNB FD calculation:

Kotak Mahindra Bank FD vs RD:
If you invest 6 lakh in Kotak bank FD for 5 years at an interest rate of 6.50 percent, on maturity, you get Rs 8,28,252 . The total amount you will get is Rs 2,28,252. 

If you put 10,000 per month for 5 years in Kotak bank RD at the same interest rate, you deposit 6 lakh, but your maturity amount will be Rs 7,09,885. The calculation was done on the bank's calculator.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Fixed DepositRecurring deposit
Written By: ZeeBiz WebTeam
Updated: Wed, May 01, 2019
11:34 am
ZeeBiz WebDesk
RELATED NEWS
Kotak Mahindra Bank raises savings account interest rate up to 4%; fixed deposit rates raised across tenors Kotak Mahindra Bank raises savings account interest rate up to 4%; fixed deposit rates raised across tenors
Wealth Guide: Real Estate Investment Vs Stocks, Fixed Deposit, Gold, Mutual Funds - Comparison by expert Wealth Guide: Real Estate Investment Vs Stocks, Fixed Deposit, Gold, Mutual Funds - Comparison by expert
Know where you would get maximum returns: Top 5 investment options for senior citizens Know where you would get maximum returns: Top 5 investment options for senior citizens
Senior citizens special fixed deposit (FD) schemes: CHECK interest rates offered by major Banks Senior citizens special fixed deposit (FD) schemes: CHECK interest rates offered by major Banks
Why making FD is better option than keeping money in savings account, this analyst explains Why making FD is better option than keeping money in savings account, this analyst explains

LATEST NEWS

Global View: L&T, JSW Steel, Hindalco, and IndusInd Bank shares can give 30-61% return – Here is why

IRDAI sets a target of 5 years for life insurance companies for greater penetration; proposes state-level committee

Financial, IT contribute 93% of FPI selling in 12 months; FIIs on longest selling spree since CY08 global financial crisis

IndiGo's OTP plunging in last 2 days: mass bunk, salary discontent among cabin crew

DMart share price: Retail chain company stock jumps 5% intraday on Q1 update – Morgan Stanley sees 28% upside – know reasons here

US ban on imports from Xinjiang disrupts China's supply chain

Asia shares cautious as Wall St futures slip

Twitter Blue users on Android can now customise navigation bar

Apple AirPods Pro 2 likely to come with USB Type-C charging case - Check details

Vedanta Group eyes USD 3.5 billion turnover from chip business, one-third from exports

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV