Investing ₹1,50,000 in 1 year FD, where will you get profit? How much interest will you get in HDFC, ICICI, SBI, and Post Office?
If someone has a lump sum amount but does not need that money immediately, then the first thought that comes to mind is Fixed Deposit. Everyone thinks that it is better to invest the money in Fixed Deposit than leaving it in the account, this will at least give interest on that amount. But it is important to understand where you will get better interest. Here is where you can get more profit by investing 1.5 lakh rupees in 1 year FD, HDFC, ICICI, SBI, and Post Office.
If you invest in SBI, then common people will get 6.50 percent interest on FD up to Rs 1 lakh, while senior citizens will get 7 percent interest. In such a situation, if 6.50 percent interest is applied on 1.5 lakh rupees, then the amount will be Rs 1,59,990 as maturity. At the same time, senior citizens will get a total of Rs 1,60,779 on maturity at the rate of 7 percent interest rate.
In HDFC Bank, common people will be given 6 percent interest on FD for up to 1 year and senior citizens will get 6.5 percent interest. In such a situation, on an investment of Rs 1,50,000, common people will get Rs 1,59,205 as the maturity amount. At the same time, senior citizens will get Rs 1,59,990 as maturity.
In ICICI Bank also, the interest rate on 1 year FD is the same as HDFC. Meaning, that common people are being given interest at the rate of 6 percent and senior citizens at the rate of 6.5 percent. In such a case, the maturity amount will also remain the same as that of HDFC. On an investment of Rs 1,50,000, common people will get Rs 1,59,205 as the maturity amount. Whereas senior citizens will get Rs 1,59,990 as maturity.
Talking about the post office, here one year FD is getting better interest than banks. Here interest will be given at the rate of 6.9 percent. In such a case, on maturity, FD of Rs 1.5 lakh will get Rs 1,60,621.
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