New Delhi. Even today, when it comes to investing, most people recommend FD i.e. Fixed Deposit. FD is considered to be a better option in terms of investment, in which the return is guaranteed. In this, more returns are available than the Savings Account. After the increase in the repo rate by the Reserve Bank of India (RBI), many banks have increased the interest rates of FD. At the same time, Deutsche Bank, a major foreign lender, is offering an interest rate of 7 percent on a 5-year FD.
The bank offers FDs of various tenors ranging from minimum 1 year 1 day to maximum 5 years. Investors can get an interest rate of 6 percent for a period of 1 year 1 day. If an investor deposits an amount of Rs 10 lakh in this period, then after 1 year 1 day the return will be 61,537 i.e. investment of Rs 10 lakh will make Rs 1,061,537.
Also read- Floating Rate FD: Yes Bank links FD rates with repo rate, know what will be the benefit of customers
The interest rate for 2 year 1 day FD is 6.25 per cent and an investment of Rs 10 lakh will give a return of Rs 1,26,493. Investors can opt for tenures of 3 years 1 day, 4 years 1 day and 5 years, where the interest rate is 7 per cent. If you invest Rs 10 lakh for a tenure of 5 years, you will get Rs 1,414,778 after maturity.
term interest rate
1 year 1 day 6.00 percent
2 years 1 day 6.25%
3 years 1 day 7.00%
4 years 1 day 7.00%
5 years 7.00%
Tags: Bank FD, FD Rates, Fixed deposits
FIRST PUBLISHED : June 23, 2022, 15:08 IST