What is the deposit rate in India?

Tax Saving Fixed Deposit Interest Rates

Tax Saving FD Minimum Deposit Tax Saving
SBI Tax Savings Scheme Rs 1,000 5.40%
HDFC Bank 5 Year Tax Saving Fixed Deposit Rs 100 5.50%
Axis Bank Tax Saver Fixed Deposit Rs 100 5.50%
Kotak Bank Tax Saving Fixed Deposit Rs 100 4.90%

Which deposit is best in India?

Best 2021 FD Interest Rates for Below Rs.2 Crore for 3-Year Tenure

Top 10 3-year FDs for 2021
Bank/Company Regular Interest Rate(per annum) Senior Citizen Interest Rate(per annum)
ICICI Home Finance 5.55% 5.80%
Yes Bank (Special Rates) 6.50% 7.00%
ICICI Bank 5.15% 5.65%

Which is the safest deposit in India?

As per RBI’s schedule of banks, available on the RBI website, there are 12 nationalised banks, including State Bank of India, which are also known as public sector banks. This is the safest category, due to the ownership of the government of India, at least more than 50%.

What is the interest of 1 lakh in BOI?

Bank of India FDs have tenures ranging from 2 years to 10 years with maximum rate of interest of 5.15%….Bank of India Fixed Deposit Interest Calculator.

Tenure Rates Maturity Amount for ₹ 1 Lakh
3 years to 4 years 364 days 5.15% to 5.65% ₹ 1,16,592 – ₹ 1,32,362

How much money is safe in FD?

Your investment in a bank is insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme, which covers your deposits up to Rs. 1 lakh for both principal and interest amount held in the same capacity and same right. So, even if the bank you have an FD in goes insolvent, your money would be safe.

Is online FD safe?

State Bank of India (SBI) has informed its account holders about social engineering frauds where cyber criminals are reported to have created online fixed deposits (FD) in customers’ accounts. “We urge our customers not to share their banking details with anyone.

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.

How much interest will I get if I deposit 10 lakh?

For example, at an interest rate of 5.15%, a non-cumulative, 12-month tenor for ₹10 lakh Bank FD will fetch you ₹4,291.67 per month. At the same rate of interest, you will earn ₹12,875 every three months, ₹25,750 every six months, and ₹51,500 annually.

Can we deposit 10 crore FD?

In case of FDs above Rs. 2 crore, Indian Bank offers a best FD rate of 3.55% p.a. for a tenure of 1 year. For senior citizens, the Bank offers an additional interest rate of 0.50% p.a. more for deposits of up to Rs. 10 crore.