FD Interest: How Much Will You Get On Rs 3 Lakh Investment in Fixed Deposit Schemes by SBI, HDFC, ICICI, BoB ?

FD interest rate: The perfect combination of high safety, stability and assured returns will make sure that fixed deposit schemes will never go out of fashion. Hence, investors who are looking to invest a part of their portfolio in fixed deposit schemes can consider FD interest rates by top lenders including State Bank of India (SBI), HDFC, Bank of Baroda, Punjab National Bank, and ICICI Bank.

Fixed deposit schemes are often a good way to park long-term emergency fund, where investors can get assured returns without worrying about market volatility. Public Sector banks like State Bank of India, Punjab National Bank, etc offer lucrative offers on FD schemes.

Top FD schemes

State Bank of India

State Bank of India offers FD interest rate of up to 7.5% on investment below Rs 3 crore. SBI FD interest rates range from 3.5% to 6.5% for general customers, whereas FD interest rates begin at 4% and can be extended up to 7.5% for senior citizen customers.

HDFC Bank FD schemes

HDFC Bank FD schemes interest rate can range from 3% to 7% for various tenures including seven days to ten years. General customers can get HDFC FD rates starting from 3% and extending up to 7%. Whereas, senior citizen customers can get maximum HDFC interest rates up to 7.5% for a duration of ten years.

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Bank of Baroda

BoB FD rates can start from as low as 4.25% for general customers on investing in term deposits for a duration of one to two weeks. BoB FD rates can go as high as 6.5% for general citizens ( and 7.5% for senior citizens) for a duration of five years and up to 10 years.

ICICI Bank FD interest rate

ICIC Bank FD interest rate can vary from 3% and extend up to 7.25% for general customers on different tenures ranging from seven days to seven years.

How much you will earn on Rs 3 lakh FD in SBI, ICICI, HDFC, BoB?

Based on the best FD interest rates of SBI, ICICI, HDFC, and Bank of Baroda, here is a calculation of the amount of interest people are likely to earn if they will invest Rs 3 lakh on FD for a tenure of one year, three years and five years.

Bank	1 yr (Rs)	3 yr (Rs)	5 yr (Rs)
SBI Bank	20926	66177	114125
HDFC Bank	20,296	69,488	1,49,877
Bank of Baroda	21,084	64,022	114,126
ICICI	28,256	69,432	1,24,433

What is an FD scheme?

Fixed deposit, also known as FD or term deposit is one of the stable ways of investment, where people are required to deposit money in lumsum amount. They can choose on whether to get monthly returns on their investments or annual returns. FD interest rates remain fixed throughout the investment period and investors often get their princial amount (invested initially) along with the interest earned on the amound during the period.

FD schemes: What are their key benefits?

Key benefits of FD schemes include assured returns, stability and safety from stock market volatility. Additionally, it offers higher interest rates to senior citizens and also offer flexibility in terms of duration of investment. There are different types of fixed deposit schemes available for people including those with special tenure and higher interest rates and others with tax benefits.