SBI vs HDFC vs ICICI Bank FD Rates: Most banks including SBI, HDFC Bank and ICICI Bank have increased their interest rates on FDs. Senior citizens have benefited the most from the increase in interest on FDs.
Senior citizens consider investing in FDs to be the safest option. You can double your money in 10 years by investing in FDs of these three banks. Here we are telling you that in what time State Bank of India (SBI), HDFC Bank and ICICI Bank (ICICI Bank) will double your money through FD.
SBI Fixed Deposit
Senior citizens can double their money in a 10-year FD with State Bank of India (SBI). The bank is currently offering a maximum interest of 7.50% to senior citizens. The online FD calculator on SBI’s website shows that an FD of Rs 50,000 in 10 years will amount to Rs 1,05,117 after a maturity period of 10 years.
HDFC Bank Fixed Deposit
Senior citizens can double their money on a 10-year FD with HDFC Bank. The bank is offering 7.75% interest to senior citizens, which is the highest as compared to SBI and ICICI Bank. According to the online FD calculator, a deposit of Rs 50,000 in a 10-year FD will grow to over Rs 1.07 lakh after maturity of 10 years.
ICICI Bank Fixed Deposit
Senior citizens can double their money in a 10-year FD with ICICI Bank. The bank is currently giving 7.50% interest to senior citizens. According to the online FD calculator, a deposit of Rs 50,000 in a 10-year FD will grow to over Rs 1.05 lakh after maturity of 10 years.
HDFC Bank’s 10 year FD will get more money
The money deposited in all the three banks will double in 10 years. HDFC bank would give you more money back on 10 years deposit as compared to other 2 banks. The bank is paying 0.25 per cent more interest on its 10-year deposit.
