Published: 12:58 PM, Mar 5, 2025
|Updated: 5:47 PM, Mar 5, 2025
FDs are risk-free investments that provide better interest than savings accounts. However, whether FD is a superior alternative for you is determined by your financial objectives, risk tolerance, and investment horizon. Volatile market swings have little bearing on FD investment. The interest rate is also kept constant during the chosen tenure. As a result, you will get an estimate of your maturity amount. Investing in an FD requires a minimum of Rs 10,000. When your fixed deposit matures, you can have it automatically renewed.
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Here is what public banks like SBI, BoB, Canara Bank, PNB, and other private banks like HDFC Bank and ICICI Bank are providing to general citizens on Rs 7 lakh investment.

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SBI provides general citizens with 6.80 per cent, 6.75 per cent, and 6.50 per cent interest rates on 1-year, 3-year, and 5-year FD tenure respectively.

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1-year: Rs 9,62,778 3-year: Rs 11,00,154 5-year: Rs 12,42,378

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BoB provides general citizens with 6.85 per cent, 7.15 per cent, and 6.80 per cent interest rates on 1-year, 3-year, and 5-year FD tenure, respectively.

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1-year: Rs 9,63,252 3-year: Rs 11,13,207 5-year: Rs 12,60,845

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PNB provides general citizens with 6.80 per cent, 7 per cent, and 6.50 per cent interest rates on 1-year, 3-year, and 5-year FD tenure, respectively.

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1-year: Rs 9,62,778 3-year: Rs 11,08,295 5-year: Rs 12,42,378

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Canara Bank provides general citizens with 6.85 per cent, 7.40 per cent, and 6.70 per cent interest rates on 1-year, 3-year, and 5-year FD tenure, respectively.

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1-year: Rs 9,63,252 3-year: Rs 11,21,437 5-year: Rs 12,54,660

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ICICI Bank provides general citizens with 6.70 per cent on 1-year, and 7 per cent each in 3-year, and 5-year FD tenure, respectively.

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1-year: Rs 9,61,832 3-year: Rs 11,08,295 5-year: Rs 12,73,300

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HDFC Bank provides general citizens with 6.60 per cent on 1-year, and 7 per cent each in 3-year, and 5-year FD tenure, respectively.

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1-year: Rs 9,60,886 3-year: Rs 11,08,295 5-year: Rs 12,73,300