Question: Which Is The Best FD?

Is LIC better than FD?

Fixed deposits are best for both short and medium term investments whereas life insurance plans are designed for long term investments.

You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years.

You can invest a minimum amount of Rs..

Which is better gold or FD?

Gold investment always assures a reasonable rate of return. … So, the return is most times nominal in case of investing in gold. The one down side to fixed deposit is that the returns are locked for the term of investment. Irrespective of the invested amount, the returns are guaranteed in case of FD.

What is lic interest rate?

Current LIC Housing Finance Home loan interest rates for Dec 2020 starts at 6.90% p.a. for a maximum tenure of 30 years. Processing fee on its housing loans is NIL.

Which bank has highest interest?

Here are the best online savings account interest ratesCitibank – APY: 0.70%, min. … Vio Bank – APY: 0.66%, min. … Popular Direct – APY: 0.65%, min. … Ally Bank – APY: 0.60%, min. … American Express National Bank – APY: 0.60%, min. … Synchrony Bank – APY: 0.60%, min. … Comenity Direct – APY: 0.60%, min.More items…

Which FD is best bank or post office?

There is complete safety as the entire amount in post office time deposit is backed by a government guarantee. Even the interest rate is higher than bank FD in most cases.

Which plan is best in LIC?

Best LIC PlansLIC PoliciesPlan TypeMaximum Maturity AgeLIC Jeevan UmangWhole Life Insurance100 yearsLIC Jeevan AmarTerm Assurance Plan80 yearsLIC Money Back 25 yearsMoney Back Policy70 yearsLIC New Jeevan AnandEndowment Plan75 years1 more row

Which type of FD is best?

Corporate Fixed Deposit schemes offer higher returns on your investment, but choosing the right company is imperative. If you choose a good Company FD scheme, you will generally earn more on your investment than bank FDs as these schemes offer the highest interest rate on FD.

Which bank is best for fixed deposit in 2020?

Best Fixed Deposit Rates & Promotions in SG, Dec 2020BankInterest Rate (Per Annum)TenorICBC0.75%12 monthsUOB0.55%10 monthsOCBC0.50%12 monthsStandard Chartered0.30%6 months3 more rows•5 days ago

Is LIC safe after Budget 2020?

The government plans to sell part of its holding in Life Insurance Corporation of India through an initial public offering as it set a record disinvestment target for 2020-21. More so, after it estimates to miss its FY20 disinvestment target by more than a third. …

Which bank is safest for FD?

3. Compare Interest Rates from different BanksBANKNormal CitizensSenior CitizensAxis Bank3.50% – 7.60%3.50% – 8.25%Kotak Mahindra Bank3.50% – 7.30%4.00% – 7.80%IDFC Bank4.00% – 8.25%4.50% – 8.75%Bank of Baroda4.50% – 6.85%5.00% – 7.35%16 more rows•Nov 24, 2020

Can we break Post Office FD?

An account holder will be allowed to prematurely withdraw the time deposit account after six months of opening the account. … In case of premature withdrawal of 2-year, 3-year and 5-year accounts after the first year has been completed, the interest will be paid on the deposit for the completed years and months.

How many years FD will double in post office?

10 yearsThe annual interest is credited to the investor’s savings account at his/her option. How many years will FD double in the post office? At the interest rate of 7%, a post office fixed deposit investment will double in 10 years and four months.

Which bank pays highest interest on fixed deposit?

Fixed Deposit Interest Rates by Different BanksBankTenureInterest rateICICI Bank7 days to 10 years4% to 7.25%Punjab National Bank7 days to 10 years5.70% to 6.85%HDFC Bank7 days to 10 years3.5% to 7.40%Axis Bank7 days to 10 years3.5% to 7.25%2 more rows

How much money is safe in post office?

Soon after the PMC crisis, the RBI assured investors that the banking system was safe. However, the fact that the deposit insurance scheme provides protection for a maximum of ₹1 lakh per depositor in a bank has is a concern in some quarters.