FD Calculator

An FD Calculator is a popular online tool that helps you estimate the interest earned and the total maturity amount from your fixed deposit (FD) investments. The fixed deposit calculator is a fast and simple method to compare the potential returns for multiple fixed deposit tenures and at different FD interest rates. In this article, we will explain the use of the FD interest calculator and how it helps you choose the best fixed deposit schemes in 2024.

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FD Calculator

Total Investment

₹500 ₹30L
Enter Total Investment

Rate of Interest (Yearly)

1% 15%
Rate of Interest (Yearly)

Time Period

1 Year 15 Years
Enter Time Period
Total Investment
Interest Earned
Maturity Amount
The rate of interest may differ from bank to bank and decided by the bank only. But what if you can calculate Fixed Deposit ROI on your own? Yes, it is possible with the help of FD calculator.

What is the FD Calculator?

The FD Calculator is an online tool that helps you plan your fixed deposit (FD) investments. It allows you to compute the future value of your maturity returns earned from the best FD interest rates in India. Various banks and financial institutions offer attractive FD rates on your fixed deposit investment options. 

The FD calculator 2024 considers the following factors to provide an output:

  • Tenure of FD (number of years you want to stay invested)

  • Principal Amount of Investment

  • Type of Fixed Deposit Scheme

  • Fixed Deposit Interest Rates

An FD interest calculator helps you simplify the process of growing your investments and secure a stable return on your investment plans.

Guaranteed return plan Guaranteed return plan

How to Use Policybazaar’s Fixed Deposit Calculator?

The FD Calculator 2024 makes it fast and easy to estimate your fixed deposit interest amount even before opening an FD account.

Follow the 3 simple steps to calculate the FD returns online using the Policybazaar FD Interest Rates Calculator:

Step 1: Open the Policybazaar FD Calculator on the official website.

Step 2: Adjust the following details as per your choice:

  • The Principal amount you want to invest

  • Rate of interest

  • The number of years of investment (Tenure)

Step 3: The Fixed Deposit interest calculator will suggest your expected interest and related maturity returns.

FD Calculator Formula

Fixed Deposit interest calculation in a FD Calculator follows the two ways:

  • Simple Interest Calculation in an FD

  • Compound Interest Calculation in an FD 

Let us have a look at both methods in the sections below.

  1. Simple Interest in a Fixed Deposit Calculator

    The Simple Interest Fixed Deposit Calculator works based on the following formula
    SI = P × r × t
    Terms used in SI FD Calculator
    SI
    Simple interest earned on deposits
    P
    Principal amount of deposits
    r
    rate of interest
    t
    tenure (number of years of investment)

    Illustration of Simple Interest Calculations in an FD Calculator:

    If the particulars of your FD plan are as follows:

    • Principal amount (P) = Rs. 1.5 lakhs

    • Period of FD investment (t) = 6 years

    • Rate of interest for the tenure (r) = 6.50% p.a. 

    • Interest earned on deposits (SI)

    • SI = 1,50,000 × 0.065 × 6

    • SI= 1,50,000 × .39

    • SI = Rs. 58,500 (approx.)

    • Maturity Amount= 1,50,000+ 58,500

      = Rs. 2,08,500

  2. Compound Interest in a Fixed Deposit Calculator 

    The Compound Interest Fixed Deposit Calculator works based on the following formula
    A = P (1+ r/n) ^ (n × t)
    Terms used in CI FD Calculator
    A
    The amount to be received
    P
    Principal amount
    r
    rate of interest
    n
    number of times the interest is compounded per year
    t
    tenure

    Illustration of Compound Interest Calculations in an FD Calculator:

    If the particulars of your FD plan are the same as above and the interest is compounded quarterly, then the compound interest calculation will be as follows:

    • Maturity Amount (A)

    • A = 1,50,000 (1+ 0.065/4)^ (4×6)

    • A = 1,50,000 (1.4723)

    • A = Rs. 2,20,853 (approx.)

    • Compound Interest (CI) = Rs. 2,20,853 - Rs. 1,50,000

    • CI = Rs. 3,70,853

Guaranteed Return Investment Plan Guaranteed Return Investment Plan

Benefits of Using Policybazaar’s FD Calculator 2024

Listed below are some of the major benefits of using FD Interest Calculator 2024:

  • Time-Saving: Policybazaar FD calculator is fast and easy to make interest return calculations.

  • Accuracy: You can make error-free fixed deposit interest calculations using an online FD calculator 2024.

  • Double Check Not Required: There is no need to double-check the calculation values in this online FD calculator, unlike in manual calculation.

  • Interest-rates Comparison: A fixed deposit interest calculator helps you to compare the returns on various interest rates offered by different financial institutions.

  • Choose FD Plan: The FD interest calculator 2024 makes it easy for you to decide the best FD schemes along with the ideal maturity amount.

  • Flexibility and Efficiency: Fixed deposit calculator 2024 is the most efficient tool to calculate the periodic interest on your Fixed Deposit account deposits at varying tenures and amounts

People Also Read: Which Bank has the Highest Interest Rate for Fixed Deposit?

Wrapping Up

A fixed deposit interest calculator is a useful tool that helps you accurately calculate the interest earned and total returns on your FD investments. It saves your time by comparing interest rates with flexibility in calculating the returns. The use of the FD interest calculator 2024 is an efficient way to plan your investments.

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Fixed Deposit Account Advantages and Disadvantages

Fixed Deposit Account Advantages and Disadvantages

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HSBC FD Interest Rates

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ICICI Bank FD Interest Rates

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IDBI Bank FD Interest Rates

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IDFC First Bank FD Interest Rates

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Muthoot Capital

Muthoot Capital

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Telangana Grameena Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

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UCO Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Union Bank of India FD Interest Rates

Union Bank of India FD Interest Rates

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Yes Bank FD Interest Rates

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Frequently Asked Questions

    • Which bank is best for fixed deposit 2023?

      The following banks are best to open a fixed deposit account in 2023:

      Name of the Bank

      FD Rates for General Citizens 

      (in % p.a.)

      SBI Bank

      3.00 to 7.10%

      PNB Bank

      3.50 to 7.25%

      Axis Bank

      3.00 to 7.10%

      Unity Small Finance Bank

      4.50 to 9.00%

      HDFC Bank

      3.00 to 7.25%

      ICICI Bank

      3.00 to 7.10%

      Bandhan Bank

      3.00 to 7.85%

      Union Bank (Andhra Bank)

      3.00 to 7.00%

    • Is the FD interest calculator free to use?

      Yes, the fixed deposit interest calculator is a freely used financial tool. 
    • How much time does it take to use the FD calculator?

      It takes just a few seconds to use an FD calculator. The online FD interest calculator is very user-friendly and requires you to enter only a few details, such as the principal amount, interest rate, tenure, and compounding frequency. The fixed deposit FD calculator will then automatically calculate the maturity amount of your investment.
    • How does the FD calculator help in future financial planning?

      FD Calculator 2023 is a valuable tool for investors who want to plan for their financial future. By using a fixed deposit FD calculator, you can get a clear picture of how your Fixed Deposit investment will grow over time and how it can help you achieve your financial goals like retirement planning, saving for child education, or saving for a down payment on a house.
    • Can I get monthly interest on a fixed deposit?

      Yes, it is possible to get monthly interest on a fixed deposit. This type of FD is known as a monthly income scheme (MIS). In an MIS, the interest earned on the FD is paid out to the investor on a monthly basis.
    • Will FD rates increase in 2023?

      Many banks have increased the FD interest rates for various tenures in the new Financial Year 2023-24. In addition, the financial institutions are offering higher FD rates by 0.25-0.5% p.a. for senior citizens and women customers.
    • What is the expected FD interest rate in 2023?

      The latest Fixed Deposit rates in 2023 offered by different banks and financial institutions range between 3.50% p.a. to 9.20% p.a. for specific tenures. You can take help of Policybazaar's FD Interest Calculator 2023 to calculate your Fixed Deposit interest rates.
    • Which bank is best for fixed deposit 2023?

      The list of high FD interest rate banks to earn high returns are as follows:
      Name of the Bank FD Rates for General Citizens (in % p.a.) FD Rates for Senior Citizens (in % p.a.)
      HDFC FD Interest Rates 3.00% To 7.10% 3.50% to 7.75%
      ICICI Bank FD Rates 3.00% To 7.10% 3.50% to 7.60%
      Axis Bank FD Interest Rates 3.50% To 7.26% 3.50% to 8.01%
      PNB FD Interest Rates 3.50% to 7.00% 4.00% to 8.05%
      SBI FD Interest Rates 3.00% to 7.00% 3.50% to 7.50%
    • What is the tax benefit of FD?

      The deposits and interest earned from FD plan are taxable under the Income Tax Act, of 1961 as per the applicable tax slab rates. The best Tax-Saver FD Schemes provide tax benefits under Section 80C of the IT Act.
    • How is FD calculated?

      There are 2 ways of calculating the interest rate on fixed deposits:

      1. Simple Interest

      Simple interest on fixed deposits is calculated by multiplying:

      Principal Amount, Rate of Interest annually, and the total tenure of the FD divided by 100.

      For example, if you deposit 1 lakh rupees at a 10% annual rate of interest for a period of 5 years, then the interest amount at the time of maturity will be:

      Simple Interest = P X R X T / 100

      Simple Interest = 1,00,000 X 10 X 5 / 100

      Simple Interest = Rs. 50,000

      Maturity amount will be Rs. 1,50,000

      2. Compound Interest

      Compound interest is calculated on both the interest amount as well as the principal amount. It is calculated by using the following formula:

      M = P (1+r / n) ^ (n * t)

      M = Maturity amount

      P = Principal amount

      r = Rate of Interest

      n = number of compounding in a year

      t = Total tenure

      for example, if you deposit Rs. 10,000 for 3 years at an interest rate of 10% (compounded quarterly), then the interest amount at the time of maturity will be:

      M = P (1+r / n) ^ (n * t)

      M = 10,000 (1 + (0.1 / 4) ^ (4 * 3)

      M = 10,000 (1 + 0.025) ^ (12)

      M = 10,000 (1.025) ^ (12)

      M = Rs. 13,449

      Compound Interest (CI) = Maturity Amount – Principal Amount

      CI = 13,449 – 10,000 = Rs. 3,449

      Maturity amount will be Rs.10,3449

    • Can I make FD for 20 years?

      In general, the tenure of any Fixed Deposit offered by various banks and financial institutions ranges from 7 days to 10 years. The maximum deposit considered by all banks, in general, is 10 years, but some banks may increase their tenure in India as per the investor’s preference.
    • Is FD tax free?

      No, Fixed Deposits are not tax free. However, an investor can claim deductions up to Rs. 1,50,000 annually under Section 80C of the Income Tax Act, 1961.
    • Can I withdraw FD at any time?

      If the bank does not have any lock-in period for the FD, the investor can withdraw the amount whenever they wish to.
    • Is FD risk free?

      Yes. Fixed Deposits are completely risk free investment options that offer guaranteed returns to the investors if investments are made for a long-term period.
    • What is the minimum period for a fixed deposit?

      Generally, the FD tenure ranges from 7 days to 10 years, depending on the tenure chosen by the investor.
    • Can a 5-year tax saver FD be broken?

      No. A tax saver FD of 5-year cannot be broken before the completion of the tenure.
    • What is the minimum and maximum amount required to open FD?

      The minimum amount of FD can vary from one bank to another. While SBI requires a minimum amount of Rs. 1,000 to open an FD account, Axis Bank requires Rs. 5,000 for the same. The rate of interest offered on FDs also differs from one bank to another.
      The maximum amount does not have a capping when it comes to opening an FD account. However, it is recommended to check with the provider before investing to see if there is an upper limit.

FD News

SBI reintroduces ‘Amrit Kalash’ special Retail FD Scheme at 7.1% interest rate

18 May 2023

The State Bank of India (SBI) relaunched the ‘Amrit Kalash’ Fixed Deposit scheme on 12 May 2023 for a special tenure of 400 days.

The bank is offering attractive FD interest rates of 7.1% p.a. for its general customers and 7.6% p.a. for senior citizens. The customers can join this FD scheme until 30 June 2023. Both the Domestic Retail Term Deposits and NRI Rupee Term Deposits (below Rs. 2 crores) can avail of the benefits of the Amrit Kalash scheme.
Earlier, the SBI Bank launched the scheme between 15 February and 31 March 2023.

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Shriram Finance Announces Unnati Jubilee Fixed Deposit Scheme at 9.15% FD Rate of Interest

06 May 2023

Shriram Finance Limited (SFL) introduced the best FD interest rates of 9.15% p.a. for its women senior citizens under its Unnati Jubilee Fixed Deposit category.

The rates are announced to celebrate the golden jubilee eve of the Shriram Group. The special FD rates are offered for the fixed tenure of 50 months and are effective as of 05 May 2023.

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Save Big with New FD Rates from Bandhan Bank

09 February 2023

The latest rate hike for bulk fixed deposits is part of Bandhan Bank's ongoing strategy to attract more depositors and enhance its overall financial performance. Bank has raised its bulk fixed deposit (FD) interest rates, offering up to 7.90% on deposit terms ranging from 365 days to less than 15 months, effective from 30th January 2023.

The rate hike applies to deposits ranging from Rs 2 crore to less than Rs 5 crore, with maturity periods of one to two years. With the increase, Bandhan Bank's FD interest rates are now more competitive compared to other banks in the market. This, coupled with its reputation for offering quality banking services, is likely to make the bank an attractive option for people looking to invest their money.

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Interest Rates Skyrocket at Post-Office Banks

08 February 2023

The Indian government has raised the interest rates of various small savings schemes for the 4th quarter of the 2022-23 financial year. The Department of Posts is launching an "Ek Din Mein Ek Crore" campaign to spread the benefits to the public.

Senior Citizen Savings Scheme has the highest interest rate of 8%, Sukanya Samriddhi Yojana 7.6%, Monthly Income Scheme 7.1%, 5-year National Saving Certificate 7%, and Kisan Vikas Patra 7.2%. Post office time deposit interest rates for 1, 2, 3, and 5 years are 6.6%, 6.8%, 6.9%, and 7.0%, respectively. The increase in interest rates will offer better returns to the citizens who choose to invest in these schemes.
The Department of Posts' initiative "Ek Din Mein Ek Crore" will further boost the reach of these benefits to the public. This move by the government is expected to encourage more people to invest in small savings schemes, thereby providing them with long-term financial stability and security.

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Axis Bank FD Interest Rates Increased: Changed for the Second Time in November!

16 November 2022

Axis Bank increased their FD Interest Rates twice in November. Earlier changed on 5th November, the rates have now been revised on the 15th November for an amount less than Rs. 2 crores.

For the tenure of 15 months to 18 months, the interest rates have been increased by 15 basis points from 6.25% to 6.40% for deposits below Rs. 2 crores. Also, for 18 months to 3 years of tenure, the rates have been hiked by 20 basis points, from 6.30% to 6.50%.

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Top 5 Income Tax Saving FDs: Check Out the List!

10 November 2022

Section 80C of the Income Tax Act 1961 allows investors to save tax deductions from their income, including bank Fixed Deposits. FDs are considered risk-free investment options; hence, many people opt for FDs as a safe option.

The top banks that offer tax-saving FDs are DCB Bank at an interest rate of 7.25% for a 5-year tax-saving FD, City Union Bank at 7%, AU Small Finance Bank at 6.95%, IndusInd Bank at 6.75%, and Yes Bank at 6.75% for a 5-year tax-saving FD. Up to Rs. 1,50,000 can be claimed under tax deductions in a fiscal year under Section 80C of the IT Act.

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IDBI Updates Their Fixed Deposit Interest Rates: Check Out the New Rates!

04 November 2022

IDBI Bank has updated their Fixed Deposit Interest Rates with effect from 1st November 2022 for the “Amrit Mahotsav” variant. Under the updated scheme, a 7.5% interest rate is offered to senior citizens, whereas 7% is for the general citizens.

IDBI Bank offers a 7% interest rate to general citizens and 7.5% to senior citizens for a tenure of 700 days. Due to the repo rate hike by the Reserve Bank of India (RBI), all the banks have updated their interest rates, including the IDBI Bank, in the last 6 months.

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Returns up to 7.60% on 3- to 5-Year Tenure for Senior Citizens: Check Out the Banks!

12 October 2022

As per the CPI (Consumer Price Index), inflation has risen from 6.71% in July to 7.00% in August 2022. To curb the credit demand in the market, the RBI (Reserve Bank of India) has increased its repo rates by 0.50%.

Investors looking for maximum guaranteed returns are opting for bank Fixed Deposits.
Top banks like DCB Bank have increased their interest rates at 7.50% for senior citizens on deposits below Rs. 2 crores for 5 years. Similarly, Bandhan Bank, IndusInd Bank, RBL Bank, and Yes Bank have also increased their FD interest rates up to 7.60% on 3-year to 5-year tenure for senior citizens of the country.

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All Banks Update Their FD Rates: Check Out the Banks Offering Interest Rates Above 7%!

11 October 2022

The Reserve Bank of India has consistently increased the repo rate in the last five months, leading to a hike in the interest rates for Fixed Deposits (FDs) and Recurring Deposits (RDs). This increase has attracted more investors to invest their savings in FDs.

Canara Bank has come up with a special 666 days plan wherein they offer 7% to general citizens and 7.5% to senior citizens for deposits below Rs. 2 crores. Other top banks, including Bandhan Bank, RBL Bank, and IDFC Bank, also offer interest rates of around 7%, attracting more investors.

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Post Office FD Vs. Bank FD: Where to Invest?

07 October 2022

The government of India has increased its interest rates for particular term deposits by 1%. It is generally for a tenure of 2 years and 3 years. Banks have also substantially increased their interest rates on term deposits or FDs along with the government.

While senior citizens are allowed higher returns in bank FDs, the post office offers the same interest rates for all categories of citizens. Post office FDs have increased their rates from 5.5% to 5.7% for a tenure of 2 years, while banks like SBI (State Bank of India) offer 5.95% returns for a tenure of less than 2 years.

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PNB Updates FD Interest Rates: 0.80% Increase for Senior Citizens!

06 October 2022

Punjab National Bank has introduced the updated Fixed Deposit Interest Rates effective from 13th September 2022. The PNB FD rates offer an 80 BPS increase under certain tenures for senior citizens and all tenures for super senior citizens.

Super Senior Citizens above 80 years of age are allowed 0.80% above the regular FD rates offered to General Citizens. The tenure of bank FDs ranges from 7 days to 10 years in general. PNB is offering the highest Fixed Deposit rates for super senior citizens compared to other banks across all the tenures.

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ICICI Bank and Federal Bank Increase Their FD Rates: Check Out the New Interest Rates!

29 September 2022

Effective from 26th September 2022, ICICI Bank has updated its FD Interest Rates, whereas, in the case of Federal Bank, the updated FD rates are effective from 27th September 2022.

Before the Reserve Bank of India’s (RBI) monetary policy review this week, top private banks, like ICICI and Federal, have increased their Fixed Deposit Interest Rates for deposits less than Rs. 2 crores. ICICI Bank’s revised rates for the tenure of 185 days to 1 year is 5.50% from 4.65%. Whereas in the case of Federal Bank, revised rates for the tenure of 333 days have increased to 5.60%.

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Increased FD Rates for Certain Tenures: Check Out ICICI Bank’s Revised Rates!

26 September 2022

With effect from 26th September 2022, ICICI Banks FD Interest rates are increased up to 25 basis points for certain tenures below the amount of Rs. 2 crores. The revised interest rates range between 2.75% to 6.10% for the tenure of 7 days to 10 years for general citizens.

For the tenure of 91 days to 120 days, 121 days to 150 days, and 151 days to 184 days, the interest rates have gone up from 3.75% to 4%. Penalties are levied on premature withdrawals as per the bank’s terms.

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Increased Interest Rates for Kotak Mahindra Fixed Deposits: Check out the Revised Rates!

22 September 2022

Kotak Mahindra, one of the leading private sector banks, has recently updated its interest rate on fixed deposits. Effective from 19th September 2022, the rates have increased by 10 points for deposits below Rs. 2 crores for the tenure ranging from 2 years to 10 years.

For the tenure of 2 years and above, Kotak Mahindra Bank FD Rates are increased from 6% to 6.10%. The interest will be paid as per the terms and conditions of the bank, and penalty charges will be applicable for premature closures of the FD.

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Increased FD Rates for Senior Citizens: Check out the SBI Wecare Fixed Deposit Scheme!

21 September 2022

Generally, most banks offer 0.5% additional interest rates to senior citizens aged 60 years and above. But, when it comes to SBI’s Wecare Fixed Deposit Scheme, the interest rate offered to senior citizens is up to 0.80%.

The scheme was previously supposed to discontinue from 30th September 2022 but has now been extended until March 2023. The increased FD rates for senior citizens are beneficial, attracting more and more depositors. SBI Wecare’s increased FD rates is payable on TD for the tenure of 5 years and above.

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Interest up to 7.50% on 3 to 5 years FD tenure: Check Out These Banks!

20 September 2022

One of the safest investment tools, FDs are a popular choice for investors when investing their hard-earned money. Besides offering high-interest rates to general and senior citizens of India,

FD does not come up with any market-related risks, and offers different interest payment options along with tax-saving benefits.
The top 5 banks to have increased their FD interest rates for a tenure of 3 years to 5 years are Fincare Small Finance Bank at 7.50%, Jana Small Finance Bank FD rates at 7.35%, Ujjivan Small Finance Bank at the interest rate of 7.20%, whereas Bandhan Bank and Deutsche Bank at 7% each.

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Higher Interest Rates for a Limited Time: SBI Launches a Special FD Scheme

19 September 2022

On the special occasion of the 76th Independence Day of India, the State Bank of India came up with a special "Utsav Deposit" scheme for a limited time period up till 28th October 2022.

The Utsav Deposit scheme's tenure is 1000 days, with interest rates as high as 6.10% for general citizens and 6.60% for senior citizens. The interest payment can be made monthly, quarterly, and half-yearly, per the requirement of the depositor. Premature withdrawals are also available as applicable for retail term deposits, and TDS is applicable as per the prevailing tax laws.

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Interest Rates Ranging 7.50% to 8.25% on 2-year FDs: A bonus for Senior Citizens!

13 September 2022

Fixed Deposits are hugely popular amongst the masses because they are safe, government-backed, and offer guaranteed returns to their customers for decades. FDs for senior citizens are considered one of the best options for future security. The payouts are made monthly, quarterly, semi-annually, and annually based on the requirement.

Some banks have increased their interest rates ranging from 7.50% to 8.25% for a tenure of 2 years, attracting more customers. The banks offering high-interest rates include Utkarsh Small Finance Bank, Jana Small Finance Bank, Bandhan Bank, IndusInd Bank, and Yes Bank.

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Interest Rates Up to 7.5% for Senior Citizens: Check Out These Top Banks!

12 September 2022

After the hike in repo rates by the Reserve Bank of India recently by 140 points, many banks, and financial institutions have raised their interest rates. This rise in interest rate has brought a sigh of relief for the depositors, especially the senior citizens and retirees dependent on FD income.

The banks that have increased their interest rates include IndusInd Bank, Kotak Mahindra Bank, DCB Bank, etc., for deposits less than Rs. 2 Crores. The premiums offered are, at times, even higher based on the maturity period and the deposited amount, making it highly beneficial for the depositors.

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Revised FD Interest Rates for Equitas Small Finance Bank: Get Up to 7.25%!

09 September 2022

A new interest rate revision has been made on FDs below Rs. 2 crores for the Equitas Small Finance Bank, effective from 8th September 2022. The new rates range from 3.50% to 7.25% for a tenure of 7 days to 10 years, respectively.

Some of the basic features of Equitas Small Finance Bank FD rates include a 7.45% interest rate for senior citizens for a tenure of 10 years, full or partial withdrawal before the maturity date, nomination facility, zero penalties in case of withdrawal after 6 months of the FD tenure, and much more.

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New FD Rules Introduced by RBI: Less Interest If Left Unclaimed!

08 September 2022

The Reserve Bank of India has introduced a new amendment for the interest rates on overdue FDs. After the recent modification of the interest rates in both private and government sector banks and financial institutions, the interest rates have been reduced on overdue or unclaimed FDs.

As per the new rules, if an FD has matured and the proceeds are still unpaid, the amount that has not been claimed will receive a lesser interest than a regular FD. If an investor does not withdraw or claim the FD, the interest rate will be less after the maturity of the FD.

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SBI Multi Option Deposit Scheme: Withdraw Anytime Without Paying Penalty!

07 September 2022

In general, investors who withdraw their FD before the maturity date are bound to pay the penalty. State Bank of India has come up with SBI's Multi Option Deposit Scheme, wherein investors can withdraw whenever they wish to without any penalties levied.

SBI Multi Option Deposit Scheme is a term deposit open by Resident Individuals, Hindu Undivided Families, Local Bodies, Government Departments, and Companies. The interest rates of this scheme are similar to SBI's regular fixed deposit rates. The scheme can be easily linked to an investor's current or savings account.

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Rise in FD Interest Rates for NRIs: Yes Bank

05 September 2022

Due to the monetary policy tightening, the RBI has temporarily allowed banks to raise their interest rates on deposits and loans. Yes Bank FD Rates has recently increased for NREs (Non-Resident Externals) and NRIs (Non-Resident Indians) by 50 to 75 basis points.

FCNR (B) and NRE deposit rates were increased from 7th July 2022 for a period up to 31st October 2022. Currently, as per the Yes bank website, the NRE Fixed Deposit Interest Rate from 1 year to 18 months is 7.01%, whereas, above 18 months to less than 10 years is 7.25% (for deposits below Rs. 2 Crores). It should be noted that these rates are subject to change.

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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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