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FD: Only 1 day difference in maturity can cause big loss, understand this calculation on FD

FD: Deposit is accrued on bank FD as per tenure. There is a trick on higher interest in this, that if you increase the tenure of FD even just one day, then you can get more interest up to 0.9 per cent annually.

FD: Fixed Deposit (FD) scheme of banks is very popular among people for investing their capital. The biggest reason for this is that investing in it is safe and returns at a fixed rate. Since this is not a market-linked investment, it does not have the effect of market fluctuations. The bank pays interest on the deposit according to the tenure on it. There is a trick in this about higher interest that if you increase the tenure of FD even just one day, then you can get 0.6 percent more interest annually. Consider it that if FDI of less than 2 crores in SBI is for 46 days -179 days, then it will get 3.9% interest annually, but if this FD is for 180 days-210 days, then it will be @ 4.40% per annum Will get interest Similarly, according to the tenure on the capital deposited in FD accounts in private banks, you can get more interest up to 0.9 per cent per annum.



Get more interest in SBI like this
Talking about SBI, the country’s largest bank, if FDs of less than 2 crores are made for 46 days to 179 days, then it will get interest at 3.9% per annum, but it will be kept for only one day and in the FD account If given, you can get interest at this rate of 4.4 percent per annum. According to the information given on the SBI website, interest will be available at the rate of 4.4 per cent per annum on an FD of 180 days to 210 days.

Similarly, FDs of more than 211 days but less than 1 year will get interest at the rate of 4.4 per cent per annum, but if it is fixed for less than 1 year but less than 2 years, then it will be 0.6 per cent more per annum. You can get interest at the rate of 5 percent. Below is the information about the interest received by SBI on FDs below Rs 2 crore. In this, you can get more interest by investing capital as per your need.

HDFC Bank can get 0.90% more interest
Talking about HDFC Bank, the country’s largest bank in the private sector, here you can get 0.9 percent more interest annually at a difference of just 1 day. The bank is paying interest at the rate of 3.5 per cent per annum on FDs of less than Rs 2 crore for a period of 91 days to 6 months, but if allowed to invest in FDs only for one day, then you can get interest at the rate of 4.4 per cent per annum. The bank is paying interest at the rate of 4.4 per cent per annum on FDs of 6 months 1 day to 9 months duration. The bank is paying interest at the rate of 3% per annum for a period of 61-90 days, while the FD at the rate of 91 days-6 months is 3.5% per annum, that is, on a difference of just one day, you get 0.5% more interest annually. Can. Below, the bank is giving information about the interest paid on FDs of different periods, according to this, according to their needs, by investing in FDs for the period, you can get more interest.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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