If someone has a lump sum amount but does not need that money immediately, then the first thought that comes to mind is Fixed Deposit. Everyone thinks that it is better to invest the money in Fixed Deposit than leaving it in the account, this will at least give interest on that amount. But it is important to understand where you will get better interest. Here, know which place among HDFC, ICICI, SBI and Post Office can give you more profit by investing Rs 1.5 lakh in a 1-year FD.
SBI
If you invest in SBI, then common people will get 6.50 percent interest on FD up to Rs 1 lakh, while senior citizens will get 7 percent interest. In such a situation, if 6.50 percent interest is applied on Rs 1.5 lakh, then the amount will be Rs 1,59,990 as maturity. Senior citizens will get a total of Rs 1,60,779 on maturity at the rate of 7 percent interest.
HDFC
HDFC Bank will give 6 percent interest to common people and 6.5 percent interest to senior citizens on FDs up to 1 year. In such a situation, on an investment of Rs 1,50,000, common people will get Rs 1,59,205 as maturity amount. Senior citizens will get Rs 1,59,990 as maturity
ICICI
In ICICI Bank also, the interest rate on 1 year FD is the same as HDFC. Meaning, common people are being given 6 percent interest and senior citizens are being given 6.5 percent interest. In such a situation, the maturity amount will also be the same as in HDFC. On an investment of Rs 1,50,000, common people will get Rs 1,59,205 as maturity amount. Whereas senior citizens will get Rs 1,59,990 as maturity.
Post Office
If we talk about post office, here one year FD is getting better interest than banks. Here you will get interest at the rate of 6.9 percent. In such a situation, on maturity, you will get Rs 1,60,621 on FD of Rs 1.5 lakh.
