INSUBCONTINENT EXCLUSIVE:
Bank fixed deposits are for people who are averse to taking risks on their investments.Just letting your savings stay idle in a bank account
Investing your money in the right savings schemes boosts your savings, say financial planners
Bank fixed deposits (FDs) are one of the most popular fixed income instruments
Investing in a fixed deposit is secure because the returns on FD are fixed across predetermined, specific periods of time
Bank fixed deposits are for people who are averse to taking risks on their investments
For example, if you invest your money in stock or debt market, the returns may fluctuate
But since fixed deposit returns are immune to market volatility, investors are assured of returns on their investments.How to create a fixed
depositFixed deposit accounts can be created by visiting a bank branch or even online
These days, most banks offer the facility of opening fixed deposits online.Major banks like State Bank of India (SBI), HDFC Bank, ICICI Bank
and Bank of India (BoI) offer the option of opening a fixed deposit account.SBI fixed deposit ratesThe following FD interest rates are
applicable on deposits below Rs
1 crore:Maturity period (term)Interest rate with effect from July 30, 2018General publicSenior citizen7 days to 45 days5.75%6.25%46 days to
179 days6.25%6.75%180 days to 210 days6.35%6.85%211 days to less than 1 year6.4%6.9%1 year to less than 2 year6.7%7.2%2 years to less than 3
Deposit: Here Are Interest Rates Paid By Top Banks)HDFC Bank fixed deposit interest ratesThe following FD interest rates are applicable on
India)Bank of India fixed deposit interest ratesThe following FD interest rates are from bankofindia.co.inPost office fixed deposits offer
annual returns between 6.9 per cent and 7.8 per cent
