I need to invest in a fixed deposit from my savings account, which amounts to approximately 7 lakhs rupees. At a 7.5% interest rate, what would be the maturity amount? For higher interest rates, are longer tenures better?
The maturity amount depends on the tenure. Longer tenures provide better interest rates; keep in mind that holding your money for a longer period lowers liquidity. Consult your bank to determine the exact maturity value based on the term you have selected.
