Recurring Deposit Rates

I want to make Rs. 1 crore by investing an equal monthly amount for 25 years (no equity investment)

Please suggest which bank offers the best rates on recurring deposit like this.

Thanks

asked May 26 '11 at 01:33 by Mayank Gupta 1222


Rs 10,000/- per month @ 9.5% per annum for 25 years will fetch you 1,15,05,145/-

Most PSU banks are giving 9.5% on RDs.

http://saralinvestments.blogspot.com/

answered May 26 '11 at 04:20 by kkk 1

link

Although RD may give you 9.5% ROI, interest amount is taxable, so end return may be less than even 7%. So if you want to make 1 crore in 25 years in RD, you will have to invest more than 10000 per month (around 12350).

Its not a good idea to earn only 7% ROI as it may not even beat inflation.

I would advise you to consider adding some portion to equity as 25 years is a long term and equity will perform better than any other investment.

Consider investing through SIP in balanced mutual funds like Reliance Regular Savings Balanced, HDFC prudence, DSPBR Balanced, HDFC Balanced or Birla Sunlife 95.

You may also consider investing in New pension scheme (NPS).

answered May 26 '11 at 14:09 by Pankaj Batra 5.2k320

link

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×3
×2

Asked: May 26 '11 at 01:33

Seen: 1,867 times

Last updated: May 26 '11 at 14:17