The stock market is currently experiencing a bit of a downturn. The Sensex and Nifty have been on a downward trend for the past couple of months. Investors are feeling cautious and hesitant to put their money in, mainly due to fear. The big question everyone is asking is – when will the market bounce back? Will they see their money again? Will there be any profits? This is on a lot of people’s minds these days.

 

Honestly, the market is just like that; ups and downs are part of the game. Sometimes you win, sometimes you lose. But not everyone is brave enough to take those risks. What most people want is a safe investment with guaranteed returns. They’re looking for options where their money is secure and they can count on a steady income.

 

When you think about safe investments, fixed deposits usually come to mind first. Even with all the buzz around stocks and mutual funds, fixed deposits are still in high demand. Especially now, with so much uncertainty, more folks are leaning towards fixed deposits.

 

Bank of Baroda stands out as one of the top banks in the country. They offer attractive interest rates on fixed deposits, allowing you to invest for various time periods. Customers can earn interest rates between 4.25% and 7.30%, which means a decent return on your investment.

 

For general customers, Bank of Baroda is currently offering a 6.85% interest rate on 12-month fixed deposits. Senior citizens get an even better deal with a rate of 7.35%. So, if you were to put Rs 2 lakh into a fixed deposit for a year, what would you get back at maturity?

 

Using the Fixed Deposit Calculator, a general customer would earn Rs 14,056 in interest over the year at the 6.85% rate. This means that at maturity, you’d have a total of Rs 2,14,056, including both interest and principal. Senior citizens benefit from the higher rate, so if they deposit Rs 2 lakh for a year, they’d earn Rs 15,110 in interest at the 7.35% rate, totaling Rs 2,15,110 at maturity.

 

If you put in Rs 4 lakh for a year, your earnings will go up even more since you’re investing a larger amount. In this scenario, a typical customer would earn Rs 28,112 in interest at a rate of 6.85%. So, when you add the interest to the principal, you’ll have a total of Rs 4,28,112.

 

Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.