Quick Answer: How Can I Double My Fd Money?

What is the best way to invest $5000?

7 Best Ways to Invest $5,000 of Your SavingsResearch online investment firms.Consider investing in a Roth IRA.Invest in actively managed mutual funds.Go for index funds.ETFs.Save with an online bank.Think about certificates of deposit (CDs) or money market accounts..

How do I double my money at the post office?

If you have collected some part of your earnings as savings, then you can invest in the post office Kisan Vikas Patra scheme. The specialty of this scheme is that in this you get the facility to double the money with a guarantee. In this scheme, customers can start from 1 thousand rupees.

Which bank is best for fixed deposit?

Get best interest on your hard earned money with zero risk. Invest in top Bank fixed deposits now!…Fixed Deposit Interest Rates 2020.BanksFD Interest RatesTenureHDFC3.00% – 6.25%7 days to 10 yearsPNB Housing Finance7.20% – 8.00%12 months to 120 monthsICICI Bank3.25% – 6.25%7 days to 10 yearsAxis Bank3.50% – 6.75%7 days to 10 years3 more rows

Which scheme is best in post office?

InstrumentInterest rate (%) from October 1, 2020Min amt (Rs)Senior Citizen Saving Scheme7.41000Sukanya Samriddhi Account7.6250Public Provident Fund7.15005 Yr NSC-VIII Issue6.810006 more rows

Which scheme has highest interest rate?

Top 5 interest rates on Tax-saving Bank FDs.Unit Linked Insurance Plan (ULIP)Equity Linked Savings Scheme (ELSS)Sukanya Samriddhi Yojana.National Pension Scheme (NPS)Pradhan Mantri Vaya Vandhana Yojana (PMVVY)Senior Citizen Saving Scheme (SCSS)Public Provident Fund :More items…

What is the safest investment with the highest return?

Investment #1: High-Yield Savings Account.Investment #2: Certificates of Deposit (CDs)Investment #3: High-Yield Money Market Accounts.Investment #4: Treasury Securities.Investment #5: Government Bond Funds.Investment #6: Municipal Bond Funds.Investment #7: Short-Term Corporate Bond Funds.More items…•

How can I double my fixed deposit?

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 7.35%, then the number of years in which your FD will get doubled is 72/7.35= 9.80. Thus, it will take 10 years for your FD to get doubled.

How can I double my money quickly?

Here are some best 5 ways to double your money fast.Stock Market. Investments made in the stock market have always given a high rate of returns to people. … Mutual Funds (MFs) … National Savings Certificates. … Corporate Deposits/Non-Convertible Debentures (NCD) … Kisan Vikas Patra (KVP)

Which bank gives double the money?

Given below is the list of some of the best and highest-paying double income FD schemes in India:Bank/tenureTenureRate of interestBank of India6 months – 10 years5.00% to 5.55%

What can u do with 20k?

How To Invest $20k: 9 Ways To Increase Your Money’s ValueInvest with a robo-advisor. Recommended allocation: Up to 100% … Invest with a broker. … Do a 401(k) swap. … Invest in real estate. … Build a well-rounded portfolio. … Put the money in a savings account. … Try out peer-to-peer lending. … Start your own business.More items…

What is the highest interest bank account?

Summary of best high-yield online savings accountsAlly Bank – 0.60% APY.American Express National Bank – 0.60% APY.Discover Bank – 0.55% APY.Marcus by Goldman Sachs – 0.60% APY.Synchrony Bank – 0.60% … Pentagon Federal Credit Union – 0.60% APY.Comenity Direct – 0.60% … Citizens Access – 0.60% APY.More items…

How can I turn $500 into $1000?

Check out the eight ways you can turn $500 into $1000.Learn the Stock Market. … Try Robo Investing. … Add Real Estate to Your Portfolio with Fundrise. … Start an Online Business. … Invest in Yourself with Online Courses. … Resell Thiftstore Clothing. … Flip Clearance Finds. … Peer to Peer Lending with Prosper.

What is the interest of 1 lakh in post office?

India Post Office Fixed Deposit Calculator 2020TenureRatesMaturity Amount for ₹ 1 Lakh2 years 1 day to 3 years5.50% to 5.50%₹ 1,11,561 – ₹ 1,17,8073 years 1 day to 5 years6.70% to 6.70%₹ 1,22,081 – ₹ 1,39,4077 days to 1 year5.50% to 5.50%₹ 1,00,105 – ₹ 1,05,6141 more row

How long does it take to double your money in FD?

The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.

What gives the best return on investment?

Overview: Best investments in 2020High-yield savings accounts. … Certificates of deposit. … Money market accounts. … Treasury securities. … Government bond funds. … Short-term corporate bond funds. … S&P 500 index funds. … Dividend stock funds.More items…•

What investments are the safest?

U.S. government bills, notes, and bonds, also known as Treasuries, are considered the safest investments in the world and are backed by the government. Brokers sell these investments in $100 increments, or you can buy them yourself at Treasury Direct.

Which is better bank or post office?

At such times, it is best to take a look at some of the post office saving schemes, which offer better interest rates than bank deposits….By Sunil Fernandes.NSC Interest Rates – 6.8%Bank interest rates for similar tenure – 5 to 6%Time deposits 5.5 to 6.7%Banks are slightly lower4 more rows•Jul 5, 2020

How much money can be deposit in post office?

Single account holders can deposit a maximum of Rs one lakh while joint account holders can deposit a maximum of Rs two lakhs. One of the main features of a Post Office savings account is that there is no lock-in or maturity period.

Are properties a good investment?

Real estate is generally a great investment option. It can generate ongoing passive income and can be a good long-term investment if the value increases over time. … For one, you will need to put down a significant amount of money upfront to begin real estate investing.

What should I invest $1000 in?

9 Smart Ways to Invest $1,000High Yield Emergency Fund.Real Estate Investing (REITs)Peer to peer lending.Let robots handle your investments.Diversify your money with ETFs.Pay down your debt.Invest in your kids’ college education.Start a Roth IRA.More items…

What is the maximum FD amount?

However, there is no limit on the maximum amount which one can invest in an FD. The minimum and maximum tenure offered for which an FD can be placed varies from one bank to another. Usually, one can invest in FD for minimum period of 7 days and for a maximum of 10 years.