Quick Answer: Which Bank Is Best For FD In India?

What is FD rate in post office?

Post Office FD Interest RatesTenureFD Interest Rates for General CitizensFD Interest Rates for Senior Citizens7 days to 1 year5.50%5.50%1 year 1 day to 2 years5.50%5.50%2 years 1 day to 3 years5.50%5.50%3 years 1 day to 5 years6.70%6.70%Oct 7, 2020.

Is FD safe in Yes Bank?

Account holders should know that deposits with Yes Bank are insured for up to Rs 5 lakh by the DICGC. DICGC insures all deposits such as savings, fixed, current, recurring, etc. except for a few such as inter-bank deposits, any amount due on account of and deposit received outside India, etc.

Can I do FD for 1 month?

A fixed deposit is a financial instrument available at any bank, where an individual can save a part or all of his savings. You can deposit the amount with a bank/lender for 1 month to 10 years. This can earn you a fixed sum as interest monthly/quarterly/annually.

Which bank FD rate is high 2020?

Fixed Deposit Interest Rates 2020BanksFD 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 bank is best for FD 2019?

IndusInd BankThe top bank for 1 year FD is IndusInd Bank as it offers highest interest rate of 7.00% on regular term deposits. For 5 year FD, Jana Small Finance Bank should be your top choice as it’s rate of interest is maximum at 7.00%.

Which bank has highest FD rate?

Best Fixed Deposit Rates & Promotions in SG, Nov 2020BankInterest Rate (Per Annum)Minimum PlacementCitibank1%S$50,000Hong Leong Finance0.70%S$20,000ICBC0.75%S$500UOB0.55%S$20,0003 more rows•7 days ago

Which is Best Bank FD or Post Office FD?

The post office (PO) time deposits are available for 1, 2,3 and 5 year period. The rate of interest on PO time deposits is currently higher than many bank FDs. Irrespective of the amount of deposit, the safety in PO time deposits is the highest as they are backed by a government guarantee.

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.

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.

Can I double my money in 5 years?

To get your money doubled in five years, the CAGR needed will be nearly 15 per cent (more preciously 14.87 per cent). However, there is no guaranteed-return product that offers such a high rate of return and the only possible way to achieve this is by taking risk.

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 6.95%, then the number of years in which your FD will get doubled is 72/6.95= 10.36. Thus, it will take 10 years for your FD to get doubled.