Top 5 Fixed Deposit Schemes in India
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People in India are quite serious about investing their money at the right place. While many prefer purchasing gold and silver to invest their money, many choose the stock market to make the most of their funds. Another investment option that Indians rely on is Fixed Deposit.
Fixed Deposit or FD is one of the key ways to grow money in a safe manner. Some of the prime reasons why fixed deposit is considered a great investment choice is because it offers good returns and is easy to open. In the case of fixed deposit or FD, one puts a lump sum in your bank for a fixed tenure as per an agreed rate of interest. When the tenure ends, the individual gets the amount invested along with the compound interest. Also referred to as term deposits, fixed deposits provide high stability, do not get affected by market fluctuations, and assured return on fixed deposits.
Top 5 Fixed Deposit Schemes in India
The list of top 5 fixed deposit schemes in India includes:
1. Dream Retirement Plan
ICICI Bank’s Dream Deposit is an investment or retirement planning scheme that features investment and a benefit period. It must be noted that while some amount is paid during the benefit period, some is paid at the time of maturity. The time period is 10 years. Rs. 2,000 is the minimum amount to be paid. The rate of interest is 8.5%.
2. Dream Education Plan Fixed Deposit Scheme
ICICI’s Dream Education Plan Fixed Deposit Scheme is a unique scheme to buy. The best in terms of child education, Dream Education Plan Fixed Deposit Scheme includes benefit period and investment. The investment should be paid on a monthly basis. During the benefit period, the annual amount is paid. It must be noted that the total amount is received during the time of maturity. You can invest from 1 year to 10 years. The interest rate is 8.50%. The minimum deposit is Rs. 500. Lastly, ICICI Bank Young Stars Account is important to have.
3. V-Vaibhav Deposit Scheme
Vijaya Bank’s V-Vaibhav Deposit Scheme is a fixed deposit with 1 year term. The interest rate is as high as 9.1% p.a. The scheme does not come with an auto-renewal option. It is important to note that the minimum amount to be deposited differs based on region.
4. Super Earner Deposit Scheme
Jammu & Kashmir Bank’s Super Earner Deposit Scheme comes with floating rates of interest. It is the bank that determines the rates, which move from low to high, thereby proving to be a good option. While the rate of interest is 9% p.a., the investment range starts at Rs. 1000 and goes up to Rs. 10 Lakh per month. The period ranges between 6 months up to 10 years.
5. Regular Fixed Deposit Scheme
HDFC Bank’s Regular Fixed Deposit Scheme features easy investment and higher returns. The scheme provides the combined benefit of safety in investment, flexibility, and profitable interest rate. The rate of interest ranges between 3.50% to 6.90%. The scheme is eligible for individuals and groups like Indian residents, Hindu Undivided Families, Partnership Firms, Limited Companies, Sole Proprietorship Firms, and Trust Accounts.
Final Words
Now that you have top options to buy fixed deposit schemes, make sure you pick the right one as per your needs and make your investment worthwhile.
Also read - How to select the best Fixed deposit scheme?
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
