Money won’t grow in your mattress.
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    Top 10 Fixed Deposit Schemes for 2 Years Tenures

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 20 Years
    5.25% - 9% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.75% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% to 7.85% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    15 Days to 20 Years
    4.5% to 8% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    6% to 8% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% to 8% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.75% - 7.6% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7.25% - 7.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7% - 7.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year onwards
    7% - 7.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    3.75% - 7.9% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    7.25% - 7.4% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
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    Fixed Deposit BYTES FROM OUR KITCHEN

    Overview

    Mobilizing idle savings into the economy and providing a rate of returns which works for the investor as well as the bank / NBFC / institution that’s providing investment services has been made possible by Fixed Deposits. FDs, as they’re also known, are incredibly popular in India, where there is a larger base of people who value the idea of saving more than spending. Savings don’t grow on their own and fixed deposits are among the most viable options for most Indians, who don’t mind a lower rate of return in exchange for security of their funds. Interest on these types of investments are usually compounded monthly, quarterly, half-yearly or even yearly. Interest rates vary depending on various factors like tenure, total amount invested, compounding frequency, etc. Fixed deposits can be taken for various tenures and offer good returns on investment – as good as can be allowed without causing an inflated economy or overburdening the investors with greater returns.

    Top 10 Fixed Deposit Schemes for 2 Year Tenure

    Listed below are some of the best schemes for a 2 years tenure.

    1. RBL Bank Fixed Deposit for 2 Years

      One of the least advertised but most trusted private sector banks in India – RBL Bank – offers a range of options for fixed deposits in terms of tenure. The interest rates are 8.51% for deposits up to 2 years. Senior citizens get a preferential interest rate ranging between 9.04% and 8.67%, depending on the amount invested, for the same tenure. The bank offers 5 different FD plans:

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under monthly compounding at 8.51% Rs.2 lakh 2 years Rs.2,36,966
      Under quarterly compounding at 8.51% Rs.2 lakh 2 years Rs.2,36,686
    2. Shriram City Union 2 Years Fixed Deposit:

      Shriram City Finance, an NBFC, is among the most successful and trusted fixed deposit providers in the country. Interest rates provided by this FD provider are 8.33% under the half-yearly compounding system, and 8.50% under the yearly compounding system. There are other tenures and scheme options, above rates are for a tenure of 2 years.

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under half-yearly compounding at 8.33% Rs.2 lakh 2 years Rs.2,35,460
      Under yearly compounding at 8.50% Rs.2 lakh 2 years Rs.2,35,445
    3. Bandhan Bank Two Years Fixed Deposit:

      Bandhan bank offers 2 FD schemes, differing based on various factors and that can be chosen depending on the customer’s requirement. Frequency of interest compounding can be chosen as either monthly or quarterly, and the interest rate is 8.25% for the tenure of 2 years.

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under monthly compounding at 8.25% Rs.2 lakh 2 years Rs.2,35,745
      Under quarterly compounding at 8.25% Rs.2 lakh 2 years Rs.2,35,484
    4. Indian Post Office FD for 2 Years:

      The Indian Post Office fixed deposits are among the most widely available in India. The post office’s interest rate is slightly lower compared to most banks and NBFCs, but is arguably the most trustworthy and reliable place in which to park your funds. Interest is compounded quarterly, but paid out annually, and is currently being offered at 7.2% for a tenure of 2 years.

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under quarterly compounding at 7.20% Rs.2 lakh 2 years Rs.2,30,681
    5. LIC Housing 2 Years Fixed Deposit:

      The LIC Housing Finance Company has been rated FAAA by CRISIL, and offers interest rates on par with most banks and leading NBFCs for deposits of a 2 year tenure. Senior citizens are offered an additional interest rate of 0.10% on top of the advertised interest rate which is 8.35% for fixed deposits of a 2 year tenure. Interest compounds annually only.

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under annual compounding at 8.35% Rs.2 lakh 2 years Rs.2,34,794
    6. Shriram Transport Finance Company 2 Years FD:

      This is an NBFC that’s expanded its operations from offering financing for those that require transportation related assets and has moved into deposits, etc. Interest can be compounded in these deposits on a monthly, quarterly, half-yearly, and yearly basis. Interest rates offered are 8.19% for monthly compounding, 8.25% for quarterly compounding, 8.33% for half-yearly compounding, and 8.50% for annual compounding.

      Example: For an investment of Rs.2 lakh

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under monthly compounding at 8.19% Rs.2 lakh 2 years Rs.2,35,465
      Under quarterly compounding at 8.25% Rs.2 lakh 2 years Rs.2,35,484
      Under half-yearly compounding at 8.33% Rs.2 lakh 2 years Rs.2,35,460
      Under yearly compounding at 8.50% Rs.2 lakh 2 years Rs.2,35,445
    7. Mahindra Finance Fixed Deposit for 2 Years:

      This private NBFC provides higher interest rates than most banks, and has been around long enough to be widely considered a trusted name in personal finance. Senior citizens get an additional 0.25% on the interest rate through Mahindra finance. Mahindra Finance offers 8.45% interest on its 2 year tenure fixed deposits. Interest is compounded either quarterly or half-yearly.

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under quarterly compounding at 8.45% Rs.2 lakh 2 years Rs.2,36,407
      Under half-yearly compounding at 8.30% Rs.2 lakh 2 years Rs.2,35,324
    8. Sundaram Finance FD for Two Years:

      Another very successful and widely trusted NBFC that offers fixed deposits is the Sundaram Finance NBFC. The deposits can be made for a tenure of one year and interest is compounded monthly at the rate of 7.95%, and quarterly at the rate of 8.00% both for tenures of 2 years. Investors are offered the choice of having interest compounded monthly or quarterly.

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under monthly compounding at 7.95% Rs.2 lakh 2 years Rs.2,35,324
      Under quarterly compounding at 8.00% Rs.2 lakh 2 years Rs.2,34,331
    9. ICICI Home Finance2 Years FD:

      The minimum deposit tenure offered by the ICICI Housing Finance Company is 1 year. Interest can be compounded annually, quarterly, or monthly. The current interest rates are 7.85% for the monthly compounding option, 7.90% for the quarterly compounding option, and 8.15% for the annual compounding option for a tenure of 2 years.

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under monthly compounding at 7.85% Rs.2 lakh 2 years Rs.2,33,879
      Under quarterly compounding at 7.90% Rs.2 lakh 2 years Rs.2,33,873
      Under annual compounding at 8.15% Rs.2 lakh 2 years Rs.2,33,928
    10. IndusInd Bank Fixed Deposit for 2 Years:

      One of the better options to take a fixed deposit out from a private sector bank is the IndusInd Bank. Investors in this FD can make partial withdrawals from their accounts. The interest rate currently is 7.71% for 2 year tenure, which is lower than most other deposits, but comes from an institution that’s been rated as one of the most trustworthy and reliable in this kind of business.

      Example: For an investment of Rs.2 lakh:

      Interest compounding Amount invested Tenure Total amount earned at the end of tenure
      Under annual compounding at 7.71% Rs.2 lakh 2 years Rs.2,32,029

    *Please note that all promotions, amounts, tenures, repayment requirements, time frames, interest rates, other rates, charges, fees, ceilings, requirements, criteria, features, benefits, exclusions, calculations, ratios, ratings, terms and conditions mentioned above are as of June, 2016, and are subject to change at any time. All banks / NBFCs / insurance providers / financial service providers / companies, etc. mentioned above retain all rights to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at their own discretion. You are requested to reconfirm the same with your chosen bank / company / NBFC / insurance provider / financial service provider, etc. before making any financial commitments.

    Updated on 22 June ‘16

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