There are many options available in the market to invest in today’s time. Like stock market, mutual funds, gold, many options are available, but the risk is also high in them. In such a situation, if you want safe and guaranteed returns, then the bank’s fixed deposit (FD) scheme can be the best option for you. In this episode, Indian Bank’s 555-day FD scheme is in the news these days.
If you invest Rs 2 lakh in this scheme, then you can get a good return on maturity. Let’s understand it in simple language.
What is 555-day FD scheme?
Indian Bank has started a special period FD scheme for investors. This special FD scheme comes with a period of 555 days. This scheme is right for those who neither want to invest for a very short time nor for a very long period. If you invest in this scheme, you can get a good return. The most important thing is that it comes with a bank guarantee, so there is no risk of any kind in it.
This much return will be available on a deposit of 2 lakhs
Suppose if you deposit 2 lakh rupees in Indian Bank’s special FD scheme. Currently, the bank is giving 6.6% interest rate annually on this deposit. If all these are calculated, then on maturity you will get a total return of ₹ 2,20,064. Out of which you will get interest of 20 thousand rupees in about one and a half years. This amount received after 555 days will be guaranteed without any risk.
You can start investing online
Nowadays you do not need to go to the bank for most of the work. You can do all the work sitting at home with the help of online banking. Similarly, if you want to invest in this 555 days FD scheme, then you can open an account with the help of Indian Bank’s website or mobile app. Apart from this, you can apply by going to your nearest bank branch.