A fixed deposit is the safest investment in India. To increase returns to depositors and attract more deposits, HDFC Bank has come up with a special Fixed Deposit scheme of 450 days. This scheme offers a better interest rate compared to regular Fixed Deposits and is attractive both for regular customers and senior citizens.
Special 450 Days FD Scheme
An FD of 450 days is suitable for investors who want short-term assured guaranteed returns with high profits. They can deposit a minimum of 5,000 with no specified upper limit, so it suits small savers as well as big investors. This means FDs assure you of a return with zero risk of market fluctuations, which is why depositors are looking into it.
Interest Rates Offered
A tempting rate under this special FD is being offered by HDFC Bank. Regular customers get nearly 7.10 percent per annum, while senior citizens can get as much as 7.60 percent. A higher rate for a senior citizen implies that retired people will draw an income from it that would help them lead lives with dignity and financial security.
Returns Calculation
For instance, if a person invests ₹1,00,000 in the present scheme, the maturity proceeds after 450 days will be higher than the conventional FD. Senior citizens will earn yet more for the same amount with the special interest complementary to the additional interest offered. This makes the scheme rewarding for those who want assured returns in a short time.
Scheme Advantages
This FD scheme offers flexibility to choose the cumulative or non-cumulative option as per their interest receipts, viz monthly, quarterly, or at maturity. This is a fully risk-free scheme as it is guaranteed by the bank and is also highly favorable to a set of conservative investors who prefer assured earnings rather than risky market-linked returns.
Why Is This FD So Attractive?
With economic uncertainty all around and stock markets on the ups and downs, this scheme is the best bet for stable growth. The 450-day tenure is not too long to lock in the money and offer truly attractive rates better than many investment avenues.
Conclusion
The 450-day FD scheme of HDFC Bank gives a perfect combination of safety, flexibility, and high returns. With interest rates going up to 7.60 percent, it ensures bumper profits in just about 15 months. For the regular customers and the senior citizens, this FD is indeed a very smart option.