FD vs KVP: Bats-bats for those who invest money in government schemes, getting tremendous benefits

Newz Fast, New Delhi: If we talk about the interest rates of the bank, then the maximum benefit is available on the FD of Punjab National Bank. Explain that banks are giving the benefit of interest ranging from 5.50 percent to 5.60 percent.

Many government and private banks of the country have increased the interest rates of fixed deposits. If you are also planning to get FD, then you will get the benefit of higher interest.

Many banks including SBI, ICICI Bank, HDFC Bank, PNB and Axis Bank have increased the interest rates. Let's check which bank is giving the benefit of how much interest.

PNB is paying highest interest
If we talk about the interest rates of the bank, then the maximum benefit is available on the FD of Punjab National Bank. Explain that banks are giving the benefit of interest ranging from 5.50 percent to 5.60 percent.

Let's check which bank gives how much interest-
HDFC Bank - 5.50 percent
ICICI Bank - 5.50 percent
SBI - 5.50 per cent
Axis Bank - 5.50 percent
Punjab National Bank - 5.60 percent
Kisan Vikas Patra - 6.90 percent
Also Read - Hackers are eyeing SBI users, such accounts are being emptied, you should also be alert

Highest interest is getting on Kisan Vikas Patra
Apart from this, if you invest your money in the Kisan Vikas Patra of the post office, then you will get the benefit of maximum interest in it. Kisan Vikas Patra is currently getting interest at the rate of 6.9 percent.

Money will double
The duration of this scheme is 124 months i.e. 10 years 4 months. If you have invested in this scheme from 1st April 2022 to 30th June 2022, then the lump sum amount deposited by you doubles in 10 years and 4 months.

How much can you invest?
In Kisan Vikas Patra you can invest in denominations of 1000, 5000, 10000, 50000. Apart from this, you can also take loan by keeping Kisan Vikas Patra as collateral or as security.