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News India Live, Digital Desk: High Returns: In today’s era, earning money is more challenging than saving and increasing it. While there are market fluctuations (such as stock markets), ‘Fixed Deposit’ (Fixed Deposit ‘has always been a safe and reliable way, for those who do not want to take any risk on their hard-earned money. This method teaches your money gradually but of course to increase, and its return turns your hard work money into a big ‘capital’!

If you have some extra money and you want to invest it in a safe place and earn well without risk, then this news is for you. Suppose you just ₹ 5 Lakh If you make a fixed deposit in the bank, then after some time you have more than your invested amount, ie ₹ 6,86,822 Will meet! Yes, it may be surprising to hear this, but it is amazing of compound interest of FD.

So how will ₹ 5 lakhs be made ₹ 6,86,822? This is full ‘financial mathematics’!

Here is an example of recent FD rates of Union Bank of India, which reflects this attractive return (you should check the rates of different banks, as they change).

• Principal Amount: ₹ 5,00,000 (Rs five lakh)

• Investment duration (Tenure): 5 years (60 months)

• Interest Rate: Suppose 6.60% per year (may be more for senior citizens).

Then how will you get ₹ 6,86,822?
When you invest ₹ 5 lakh at 6.60% annual interest rate for 5 years, and if the interest is calculated annually, then:

• Total maturity amount: ₹ 6,86,822 (six lakh sixty -six thousand eight hundred twenty two rupees)

• Your Interest Earned: ₹ 1,86,822 (one lakh sixty thousand eight hundred twenty two rupees)

The thing to note here is that some banks can give these rates or better rates even on FDs of more than 5 years. as well as, Senior citizens Often an additional 0.50% interest rate is available, which means their return will be even more!

Why is FD a ‘easy’ and ‘safe’ option for you?

1. Security of money: Your money in FD is safe in banks. There is no risk of market fluctuations.

2. Fixed returns: You already know how much amount you will get back on maturity.

3. Easy process: FD is very easy to open and does not require much paper.

4. Different periods: You can get FD done for short or long periods according to your needs.

Changing rules of banks:
Remember, banks keep changing their FD rates from time to time (especially when there is a change in the repo rate). Before investing, compare the current rates of different banks and choose the best option to suit your needs. Public sector banks such as Union Bank of India are usually reliable options.

If you also want to increase your hard earned money without any risk, then this fixed deposit can be a great way. Contact your nearest bank today and take advantage of this safe investment

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