Investment has become a necessity for a large number of people at present. A variety of options is available, such as mutual funds, and fixed deposits. Mutual funds are a little risky, as opposed to FDs. At present, many small banks like the North-East Small Finance Bank, Unity and Suryodaya Bank are offering up to 9 percent interest on FDs.
These can offer good returns. Online FDs can be easily dealt with in any of these banks. This is the best option to keep your financial plans safe at this time. Comparing the services and returns of these banks will directly determine what position is better for you.
FD is one of the popular investments
Many people would like to invest in FD instead of bearing the loss of the stock market. In the present time, many banks are providing very good deals in FD rates at present. Especially, senior citizens get returns much more than common investors. It will be like this, many banks will get you 9 percent on most of the other charges. The return in or of FD will even go up to 9%. This is one safe investment that offers most investors a chance to grow their money without any risk. One should say that FD has become synonymous with impaired growth.
Small Finance Bank of North East
This bank provides fixed-period investment options from 18 months (546 days) to 3 years (1127 days) with a return of up to 9%. An investor who invests Rs 1 lakh will have Rs 119483 a day after two years. Now, if you make the same purchase to this stock for 3 years, then in return by the completion of maturity, you will earn Rs 130605. Hence, you have gained a profit of Rs 30605 after the investment of 3 years. Safe and fair returns among similar attractiveness could be gained through this FD scheme.
Unity Small Finance Bank
This bank is giving a high interest of 9% to the investors annually, i.e. for the term of 1001 days (2 years 9 months). Like, if you invest Rs 1 lakh in this and lock it for this duration, you will get Rs 130605 after maturity. Now, in 1001 days, you will get a return of Rs 30605 on your investment of Rs 1 lakh. This can prove to be quite profitable for higher officials for long-term investments. So, as an option in investing, this bank has catch-all elasticity.
Surya Small Finance Bank
Though this bank gives 8.6 percent a year to savers, it will be for those who have been locking in FDs for a period of 2 to 3 years. This bank gives 8.6 percent interest, 1001 days, and 358 days or 2 years and 358 days. On depositing Rs 1 lakh in this bank for 2 years, one will get a total of Rs 118551 after two years, which yields a profit of Rs 18551. Similarly, in 3 years, if the same investment is made in an FD, one will have Rs 129080 in total after 3 years under which Rs 29080 shall be the profit. That way, you gain better benefits from a long-term FD.
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