As I am 24 year old professional and I have some surplus money which I want to invest in Fixed deposit. If I invest for 3 year then how much I will get after 3 years?
CHAITHANYA VR (6 Points)
28 September 2016As I am 24 year old professional and I have some surplus money which I want to invest in Fixed deposit. If I invest for 3 year then how much I will get after 3 years?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 29 September 2016
Interest rate differ slightly from bank to bank. It may be reduced by some points by the time you plan to make FD. Better go to your bank, the will give you exect figure for different year maturity.
E.g. you can get about 1272 for each 1000 Rs. invested for 3 years @ 8.1%
John Mcguire
(Professional)
(245 Points)
Replied 30 September 2016
FIXED DEPOSIT IS NOT A WAY TO EARN MONEY. THE BEST WAY TO EARN MONEY IS TO BUY A BOOK AND LEARN A NEW TRADE LIKE MAKING CAKES AT HOME, MAKING FURNITURE IN FREE TIME, MAKING FOOD AND SAVING ON RESTURANT BILLS, I.E VOCATIONAL ACITIVITES ARE BEST WAY TO MAKE MONEY. INVESTING IN FIXED DEPOSITS IS FOR RETIRED PEOPLE OR FOR THOSE WHO HAVE SUDDENLY GOT A HUGE AMOUNT OF CASH. THAT IS MY POINT OF VIEW, OTHERS MAY DIFFER. IT IS UPTO YOU TO ACCEPT THE VIEWPOINT OR MAKE YOUR OWN.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
