Know About Fixed Deposit (FD)

Fixed Deposits (FDs) issued by banks and NBFCs are a popular savings tool for senior citizens. These investments offer a higher interest rate compared to regular FDs. Senior citizens may find these favourable due to their low risk and stable returns. FDs provide a predictable income stream and come with flexible tenures. Explore some of the highest interest rates on FDs for senior citizens , as well as how FDs are calculated. Why FDs Are Popular Among Senior Citizens FDs are often chosen by senior citizens due to the higher interest rates offered. These interest rates can vary depending on the institution, FD tenure, and current market conditions. Banks and NBFCs offer better interest rates for senior citizens to support them in generating regular income. For many, this is a key advantage in retirement. Additionally, FDs offered by banks and NBFCs offer the safety of capital since these are not market-linked. The FD account holder knows exactly how much they may receive at the end of t...

A corporate fixed deposit (FD) is a savings tool provided by Non-Banking Financial Companies (NBFCs) and other corporations. Similar to traditional FDs issued by banks, corporate FDs let investors deposit a sum of money for a specific tenure. In return, investors may receive a fixed interest rate over the chosen tenure. Corporate FDs are considered low-risk investments but carry more risk compared to FDs issued by banks. Explores the key benefits and risks of corporate FDs. What are Corporate Fixed Deposits? Corporate FDs work much like regular FDs. Investors deposit a lump sum for a set tenure, which could range from a few months to several years. The interest rates on corporate FDs are generally higher than those offered by bank-issued FDs. This higher rate could be due to the additional risk associated with investing in companies rather than banks. At the end of the tenure, investors receive the principal amount along with the accumulated interest. How to Calculate Interest on Fixed...

Fixed Deposits (FDs) have long been a popular investment choice for those seeking a safe and reliable way to grow their money. By investing ₹1 Lakh in an FD for a 1-year tenure, you could earn a decent return, depending on the interest rates offered by different banks and Non-banking Financial Companies (NBFCs). To illustrate the potential earnings, let's compare the ₹ 1 Lakh FD interest for 1 year across some of the top banks and NBFCs in India: Bank / NBFC  Interest Rate (p.a.) Interest Earned at Maturity  Bajaj Finance  7.65%  ₹7,650 Shriram Finance  8.09%  ₹8,090 Mahindra Finance  7.75%  ₹7,750 PNB Housing Finance  7.75%  ₹7,750 Ujjivan Small Finance Bank  8.75%  ₹8,750 YES Bank  7.75%  ₹7,750 Note: The above interest rates are valid as of 10th September 2024 and subject to change at the discretion of the bank or NBFC.  As you can see, the interest earned on a ₹1 Lakh FD for 1 year varies depending on the i...