Many people often view investing in a bank savings account as an investment. Even while it accrues interest, the amount won't offset the damage caused by inflation over a longer length of time. Currently, most financial institutions provide savings accounts with returns of 4 percent or less. Consequently, you must look for superior alternatives and investment options that will enable you to make money by investing your money.
It is important to understand that fixed deposits are a safe investment option because they provide predictable interest rates, special rates for seniors, and flexibility in managing interest payments, with no market-related risks and are tax-deductible. If you want to know where to invest money and choose to open a new fixed deposit or renew an existing fixed deposit, performing an FD rates comparison among leading banks in the country is essential. FD Rates Comparison between ICICI, IDFC, HDFC AND NBFC As per the current scenario, listed below are the FD rates offered by Banks and NBFC for 1 year in India.
For Senior Citizen – 4.95 percent
For Senior Citizen – 6.50 percent
For Senior Citizen – 5.60 percent
For Senior Citizen – 7.75 percent
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About Author:Aman is working in the domain of Investment management in one of the top universities. He has published research papers and case studies in Investment and Fixed Deposit marketplace. He is an avid blogger in the domain of Investment management. you can also find him on social networking platforms. Archives
August 2022
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