- Which type of FD is best?
- Which is better Post Office FD or bank FD?
- How many years FD will double?
- Is FD tax free?
- Is Yes Bank FD safe now?
- Is SBI bank safe?
- Which bank has highest FD rates?
- Is SBI safe for fixed deposit?
- Is FD a good option?
- Can I double my money in 5 years?
- Can I get monthly interest on FD?
- Which post office scheme is best?
- Which bank is safe for FD?
- Can I open FD for 3 months?
- How is FD calculated?
- What is the interest of 1 lakh in SBI?
- What is FD in bank?
- Which govt bank is best for FD?
- What is the interest of 10 lakh in SBI?
- Is Post Office FD safe?

## Which type of FD is best?

List of 10 best FD schemes for 3 yearsShriram City.

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Mahindra Finance.

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Sundaram Finance.

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LVB.

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ICICI Home Finance.

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Yes Bank.

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ICICI Bank.

The annual percentage rate paid by ICICI Bank on FDs opened for a period of 3 years is 6.00% p.a.

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HDFC Bank.

The rate of interest paid on HDFC Bank FDs for a 3-year tenure is 6.00% p.a.More items….

## Which is better Post Office FD or bank FD?

Post office time deposits The interest earned is fully taxable and to be added to one’s ‘Income from other sources’ as in the case of bank FD. There is complete safety as the entire amount in post office time deposit is backed by a government guarantee. Even the interest rate is higher than bank FD in most cases.

## How many years FD will double?

To know the time duration in which your FD amount will get doubled, you have to divide 72 with the highest rate. For example, if the highest rate on FD is 7.50%, then the number of years in which your FD will get doubled is 72/7.50= 9.60. Thus, it will take 10 years for your FD to get doubled.

## Is FD tax free?

2) The interest income from bank fixed deposit is fully taxable, unlike savings bank account where one gets income tax exemption on the interest earned up to Rs 10,000 in a year. In case of FDs, banks deduct tax at source (TDS) at the rate of 10 per cent if the interest income for the year is more than Rs 10,000.

## Is Yes Bank FD safe now?

Deposits With Yes Bank Are Safe: RBI Governor. Days ahead of a moratorium imposed on Yes Bank Ltd. is set to be lifted, the Reserve Bank of India governor assured depositors that their money is safe and that the regulator stands ready to provide liquidity if needed.

## Is SBI bank safe?

“Take for instance, SBI which is amongst the top 100 banks of the world. It is as safe as it gets in terms of a bank. The m-cap ratio of SBI is an order of magnitude higher than the private sector banks which shows that m-cap ratio is a wrong measure to assess the safety of the bank,” Subramanian said.

## Which bank has highest FD rates?

Type of the Depositor: All the banks in India offer a comparatively higher interest rate on senior citizens’ fixed deposits….Fixed Deposit Interest Rates 2020.BanksFD Interest RatesTenureICICI Bank3.25% – 6.25%7 days to 10 yearsAxis Bank3.50% – 6.75%7 days to 10 yearsIDFC First Bank4.00% – 7.75%7 days to 10 years4 more rows

## Is SBI safe for fixed deposit?

SBI’s five-year FD is offering 6.25 per cent for general public and 6.75 per cent for senior citizens. Unlike bank FDs, these time deposits come with a sovereign guarantee. Therefore, offering highest safety on the principal amount.

## Is FD a good option?

Fixed Deposits (FDs) are one of the safest and most preferred investment options available to those averse to investing in risk instruments such as equity and mutual funds. … Fixed deposits offered by corporates and HFCs are rated by credit rating agencies, so that investors can choose wisely.

## Can I double my money in 5 years?

The Rule of 72 shows you how quickly you’ll double your money. All you have to do is divide 72 by the interest rate it’s earning. This is the number of years it will take for your money to double. … Or, if your money is earning a 5 percent interest rate, you’ll double it in 14.4 years (72 divided by 5 equals 14.4).

## Can I get monthly interest on FD?

Can we get monthly interest on Fixed Deposit? Yes. You can get a monthly interest payout, if you choose periodic payouts, and select monthly frequency. When you invest your money in FDs, you gain interest on your principal amount, which can be obtained periodically.

## Which post office scheme is best?

Post Office Savings Account … National Savings Recurring Deposit Account … National Savings Time Deposit Account. … National Savings Monthly Income Account. … Senior Citizens Savings Scheme Account … Public Provident Fund Account … National Savings Certificates (VIII Issue) Account … Kisan Vikas Patra Account.More items…

## Which bank is safe for FD?

To get the benefit of high rates, both SBI Bank and ICICI bank have a new FD scheme exclusively for senior citizens. The bank fixed deposits are becoming the first choice of depositors to keep their savings safe.

## Can I open FD for 3 months?

Rate of Interest on a 3-month FD If you want to invest in an FD for 3 months, you can get a decent rate of return. For instance, AU Bank offers 6.90% for regular citizens on their FD. If you’re a senior citizen, you can get 7.40% p.a. on your investment for 3 months.

## How is FD calculated?

It is calculated by multiplying the principal, rate of interest and the time period. The formula for Simple Interest (SI) is “principal x rate of interest x time period divided by 100” or (P x Rx T/100). Now if you invest Rs. 10,000 at 8% p.a. for 5 years, you can calculate the interest like this.

## What is the interest of 1 lakh in SBI?

Interest rate on SBI savings bank deposits Currently, the interest rate on savings bank deposits on balance up to Rs 1 lakh is 3.5 per cent. On balance above Rs 1 lakh, the interest rate is 3 per cent per annum, which is set at 2.75 per cent below RBI’s Repo Rate, with a minimum of 3 per cent for the entire balance.

## What is FD in bank?

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. … The interest rate varies between 4 and 7.50 percent.

## Which govt bank is best for FD?

If you’re looking to invest in fixed deposits, here are the top 10 government banks — including the State Bank of India, Punjab National Bank and Bank of India –with the highest interest rates this week with tenures between 1 and 3 years.

## What is the interest of 10 lakh in SBI?

Balances above Rs 1 lakh and up to Rs 10 lakh will fetch 6 per cent per annum. For savings account balances above Rs 10 lakh, interest rate of 6.75 per cent per annum will be applicable.

## Is Post Office FD safe?

However, post office term deposits are totally risk-free as they are backed by the government. Bank FDs are insured only up to R1 lakh. … If you are looking for a safe investment, bank FDs are suitable for you.