HDFC vs SBI vs ICICI Bank FD Rates: Most banks including SBI, HDFC Bank and ICICI Bank have increased interest rates on FDs. Senior citizens have benefited the most from the increase in interest on FDs. Senior citizens consider investing in FDs as a safer option. You can double your money in 10 years by investing in FDs of these three banks. Here let’s find out when State Bank of India (SBI), HDFC Bank and ICICI Bank (ICICI Bank) will double your money through FT.
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SBI Fixed Deposit
Senior citizens can double their money in a 10-year FD with State Bank of India (SBI). The bank currently offers a maximum interest rate of 7.50% to senior citizens. The online FT calculator on the SBI website shows that a FT of Rs 50,000 in 10 years will be Rs 1,05,117 after 10 years of maturity.
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HDFC Bank Fixed Deposit
Senior citizens can double their money with a 10-year FD with HDFC Bank. The bank offers 7.75% interest to senior citizens, which is very high compared to SBI and ICICI Bank. According to an online FT calculator, a 10-year FT of Rs. 50,000 deposit after maturity of 10 years Rs. 1.07 Lakhs more.
ICICI Bank Fixed Deposit
Senior citizens can double their money with a 10-year FD with ICICI Bank. The bank currently offers 7.50% interest to senior citizens. According to an online FD calculator, a deposit of Rs 50,000 in a 10-year FD would be worth Rs 1.05 lakh after 10 years of maturity.
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HDFC makes more money
Money deposited in all three banks will double in 10 years. HDFC bank will give you more money back on 10 years deposit compared to other 2 banks. The bank pays an additional interest of 0.25 percent on its 10-year deposits.
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