Business

Fixed Deposit: Check out this 3 to 5 year FD to get interest up to 7.5%

NEW DELHI: Bank Fixed Deposit, or FD, is a financial instrument that helps you grow your investments with a fixed term or a fixed interest rate. It is considered to be one of the safest investment instruments because the rate is not affected by market fluctuations and you get a guaranteed return depending on the term you choose. FD is also one of the most preferred investment tools among the elderly. They usually get higher interest rates from banks.

Take a look at the top 10 banks that offer you the highest 3 to 5 year FD interest rates.

Tuyên bố từ chối trách nhiệm: Dữ liệu trên trang web của các ngân hàng tương ứng vào ngày 16 tháng 9 năm 2022;  Đối với mỗi phạm vi năm, mức lãi suất được đề nghị tối đa được xem xét;  lãi suất dành cho số tiền gửi cố định thông thường dưới <span class =₹ 1 crore. Compiled by BankBazaar.com “title =” Disclaimer: Data on respective banks’ websites as of September 16, 2022; For each year range, the maximum recommended interest rate is considered; interest rate is for regular fixed deposit amount under ₹ 1 crore. Compiled by BankBazaar.com “>

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Disclaimer: Data on respective banks’ websites as of September 16, 2022; For each year range, the maximum recommended interest rate is considered; The interest rates applicable to a regular fixed deposit are below 1 crore. Compiled by BankBazaar.com

For example, if you purchased a 2-year FD, the interest earned each quarter will be added to the initial deposit. In the following quarter, the interest charged on the initial deposit increases. As a result, the amount of interest charged will increase quarterly.

Besides FDs of 3 to 5 years, you can also invest in FDs for a shorter term, from less than a year to up to three years. FD can help you achieve your short-term and long-term goals. Interest rates are usually higher than in a regular savings account.

You can invest in FD online by visiting your bank’s website or visiting your nearest bank branch. Once you have sent the money you will get an online receipt on your email address or if going to the bank get the receipt from the bank after successful payment.

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