A fixed deposit (FD) is a popular fixed return investment option for general and senior citizens. FDs can have a variety of tenure, from as short as 7 days to as long as 10 years. The interest you receive on FD depends on the amount you invest and the length of the deposit. Individuals can choose to receive their interest payments monthly, quarterly, half-yearly, or yearly, or on maturity of the FD.
Photos source: Pixabay/Representational
(Disclaimer: Our calculations are projections and not investment advice. Do you own due diligence or consult an expert for financial planning)
1/12The interest rate is 6.75 per cent for general citizens.
2/12The interest rate is 7.25 per cent for senior citizens.
3/12The bank offers a 7 per cent interest rate to general citizens in its 3-year FD.
4/12Punjab National Bank is offering a 7.50 per cent interest rate to senior citizens in its 3-year FD.
5/12The interest rate is 7.15 per cent for general citizens.
6/12The interest rate is 7.65 per cent for senior citizens.
7/12The estimated maturity amount will be Rs 7,33,436 in a 3-year fixed deposit for general citizens. The estimated return will be Rs 1,33,436.
8/12The estimated maturity amount will be Rs 7,44,328 in a 3-year fixed deposit for senior citizens. The estimated return will be Rs 1,44,328.
9/12The estimated maturity amount will be Rs 7,38,864 and the estimated return will be Rs 1,38,864.
10/12The estimated maturity amount will be Rs 7,49,830 and the estimated return will be Rs 1,49,830.
11/12The estimated maturity amount will be Rs 7,42,138 and the estimated return will be Rs 1,42,138.
12/12The estimated maturity amount will be Rs 7,53,149 and the estimated return will be Rs 1,53,149.