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Tuesday, November 30, 2021

SBI Vs HDFC Bank Vs ICICI Vs Axis Bank: Where FD is more beneficial? What will be the return on 5 lakh investment

Let us know how much return will be earned by investing five lakh rupees in 5 years FD in big banks.

Best Fixed Deposit Rates in India 2021: Talking about deposits and savings, the Fixed Deposit (FD) scheme is very popular. The biggest reason for this is that people consider it safe and they get fixed returns. The best thing is that there is no market-linked scheme, so the fluctuations of the market have no effect on it. Many people invest in FDs with their savings. Many people invest in FD for long term.

Most people invest in FDs where they have a savings account. But before investing in FD, it should be noted that different banks are paying interest on FD. Let us know how much return will be earned by investing five lakh rupees in 5 years FD in big banks.

State Bank of India (SBI)

FD amount: 5 lakhs
FD duration: 5 years
Rate of interest: 5.40 percent
Amount received at maturity: Rs 6,54,585
Interest earned: Rs 1,54,585

Punjab National Bank (PNB)

FD amount: 5 lakhs
FD duration: 5 years
Rate of interest: 5.30 percent
Amount received at maturity: Rs 6,51,335
Interest earned: Rs 1,51,335

HDFC Bank

FD amount: 5 lakhs
FD duration: 5 years
Rate of interest: 5.30 percent
Amount received at maturity: Rs 6,51,335
Interest earned: Rs 1,51,335

ICICI Bank

FD amount: 5 lakhs
FD duration: 5 years
Rate of interest: 5.35 percent
Amount received at maturity: Rs 6,52,958
Interest earned: Rs 1,52,958

Axis Bank

FD amount: 5 lakhs
FD duration: 5 years
Rate of interest: 5.50 percent
Amount received at maturity: Rs 6,57,851
Interest earned: Rs 1,57,851

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Bank of Baroda (BOB)

FD amount: 5 lakhs
FD duration: 5 years
Rate of interest: 5.25 percent
Amount received at maturity: Rs 6,49,716
Earned interest: Rs 1,49,716

If you invest 5 lakh rupees in FDs with a tenure of 5 years in these banks, then compared to the amount received on maturity, the highest returns are available in Axis Bank. Bank of Baroda will get the lowest return on maturity in these 5 banks.

(The interest rates of these banks are on an annual basis and their information is taken from the banks’ website.)

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