Public sector Indian Bank is offering 6.40 percent interest to general citizens and 6.90 percent interest to senior citizens on 2-year FD.
Indian Bank Savings Scheme: Public sector Indian Bank is offering great interest on FD to its customers. FD can be done in Indian Bank from 7 days to 10 years. This government bank is offering interest ranging from 2.80 percent to 7.65 percent on FD. Indian Bank is giving the lowest interest of 2.80 percent on 7 days FD. This bank is giving the highest interest of 6.90 percent to general citizens, 7.40 percent to senior citizens and 7.65 percent to very senior citizens on the special FD scheme of 444 days. Today we will know about such an FD scheme of Indian Bank, in which a fixed income of Rs 29,325 can be earned by depositing Rs 2 lakh.
Senior citizens are getting 6.90 percent interest on 2-year FD
Public sector Indian Bank is giving 6.40 percent interest to general citizens and 6.90 percent interest to senior citizens on 2-year FD. If you deposit Rs 2,00,000 in Indian Bank’s 2-year FD scheme, then general citizens will get a total of Rs 2,27,080 on maturity. This amount includes Rs 27,080 of fixed interest. Similarly, if you are a senior citizen and deposit Rs 2 lakh in a 2-year FD in Indian Bank, then you will get a total of Rs 2,29,325 on maturity, which includes Rs 29,325 of fixed interest.
FD gives fixed return after a fixed time
Amidst the growing popularity of stock market and mutual funds, FD i.e. Fixed Deposit still has its status and trust. A large population of the country still considers FD as the safest investment. While on one hand, there is tremendous risk in the stock market and mutual funds, on the other hand, in bank FD you get the principal amount with a fixed interest in a fixed period. Let us tell you that RBI has cut the repo rate by 1.00 percent this year, due to which all the banks have also cut the interest rates of FD.
Disclaimer: This article is written for informational purposes only. Consult your financial advisor before making any kind of investment or taking any financial risk. Businessleague will not be responsible for any kind of risk.
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