FD Investment: Now investing Rs 5 lakh in this scheme instead of bank FD will give you interest of Rs 1,17,538..

FD Scheme: If you are planning to invest in a bank FD or a post office for guaranteed returns, then this news can be very useful for you. People invest in bank FD for safe investment and guaranteed returns.

Due to this, many banks have reduced the interest rate on FD (Best bank for FD). Due to this, the problems of customers are increasing. But now you can invest the interest of a bank FD in this scheme. Know the complete details about this in the news.

You can invest in the Time Deposit Scheme-

Post Office Time Deposit Scheme is like Bank FD. In this scheme, you can invest for 1 year, 2 years, 3 years, and 5 years. You are given a return of 6.9 percent to 7.5 percent on the Post Office Time Deposit Scheme. Currently, you are being offered a return of up to 7.10 percent on a 3-year time deposit with the post office. This interest rate (FD interest rate) has been implemented for the April-June quarter.

Highest interest rate on a 3-year bank FD

Currently, private banks are offering higher interest rates (Interest rate on FD) than the post office. DCB Bank, RBL Bank, and Yes Bank are leading with a 7.50 percent annual rate on a 3-year FD. After this, Bandhan Bank and Indusind Bank (Indusind Bank FD Scheme) are giving a 7.25 percent annual interest rate, and Canara Bank is giving a 7.20 percent annual interest rate.

Other banks, including Kotak Mahindra Bank, are giving this much interest -

Bank of Baroda is also slightly ahead with a 7.15 percent annual rate. On the other hand, Axis Bank, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank (Kotak Mahindra Bank FD Interest rate) are providing interest rates of 6.90 percent per annum on a 3-year FD for general citizens.

A higher interest rate is available in the post office-

For information, let us tell you that this is 0.20 percent less than the interest rate given by Post Office FD (Post Office FD Scheme). Many government banks like SBI, Union Bank, PNB, and Indian Bank are giving 6.25 percent to 6.75 percent interest rate (Post Office FD Interest rate) to the general public on a 3-year FD.

This is the return you will get on a 3-year time deposit-

Amount invested: Rs 5,00,000

Interest rate: 7.10 percent per annum

Estimated return: Rs 1,17,538

Total value on maturity: Rs 6,17,538

Interest on 3-year FD in most big banks-

Amount invested: Rs 5,00,000

Interest rate: around 6.90 percent per annum

Estimated return: Rs 1,14,598

Total value on maturity: Rs 6,14,598

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