Fixed Deposit for 6 Months: Maturity Value 5.16 Lakh @ 6.5%

ShareShare on StumbleUponShare on FacebookTweet about this on TwitterShare on Google+Share on LinkedInEmail this to someonePin on Pinterest

Individuals who want peaceful sleep with their investments, always look for products with guaranteed returns. And for such people, there are multiple instruments such as recurring deposit, sukanya samriddhi yojana, and national pension scheme and few others. Each of these products has a limitation of fixed tenure which is normally in months/years.

However there is one investment product – fixed deposit, which scores over others in terms of the flexible tenure which can be as low as 7 days to maximum of 10 years along with fixed interest rate and any amount can be deposited, although there is a minimum sum requirement by every financial institutions. Moreover the interest is paid every month or annually. And you can have multiple FD accounts.

Listed in the below table is the maturity value calculated by FD for 6 months:

Name of Bank6 Months Interest Rate %Interest Earned
On 5 Lakh FD (Rs.)
Maturity Value On 5 Lakh FD
Compounded Quarterly (Rs.)
Interest Earned
On 2 Lakh FD (Rs.)
Maturity Value On 2 Lakh FD
Compounded Quarterly (Rs.)
UCO Bank, Corporation Bank, Standard Chartered Bank6.5163825163826552206552
Union Bank of India, Axis Bank, Indus Ind Bank, ICICI Bank, HSBC6.25157475157476298206298
Dena Bank, Kotak Bank, Punjab and Sind Bank6151125151126045206045
Deutsche Bank5.7143515143515740205740
Canara Bank, Syndicate Bank5.5138445138445537205537
Indian Bank5.25132115132115284205284
Citi Bank, Indian Overseas Bank5125785125785031205031
Royal Bank of Scotland4.9113135113134525204525

Point to remember: Interest rates are subject to change. You can get updated rates either on bank’s website or by personally visiting the bank.

Check out fixed deposit for 5 years and the maturity amount.

Disadvantages of fixed deposit:

Every investment has pros and cons. And FD too has its own set of limitations as follows:

  • Returns are low due to low interest rates offered.
  • Money gets blocked and premature withdrawal results in penalty.
  • Interest income is taxable. TDS is applicable on the interest accrued.
ShareShare on StumbleUponShare on FacebookTweet about this on TwitterShare on Google+Share on LinkedInEmail this to someonePin on Pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *