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Bank FD (Fixed Deposit) Interest Rates: What SBI, ICICI Bank And HDFC Bank Offer

Despite a falling trend in interest rates, FDs are one of the most popular savings product in India.

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Bank FD (Fixed Deposit) Interest Rates: What SBI, ICICI Bank And HDFC Bank Offer

SBI offers 6.75% interest on fixed deposits for a tenure of 1 year

Highlights

  1. Fixed deposits are one of the most popular savings products in India
  2. FDs offer wide range of term choices ranging from seven days to 10 years
  3. State Bank of India offers 6.25% interest on FDs of tenor 3-5 years

When it comes to savings in India, fixed deposits (FDs) comes to our mind first. Although return in a fixed deposit is the lowest among all available products except savings bank account, many individuals often prefer to put money in FDs because it offers fixed, secured returns. Despite a falling trend in interest rates, FDs are one of the most popular savings product in India as it is easily accessible. Depending on your investment horizon fixed deposits offer you wide range of choices ranging from seven days to 10 years. However, to get the best return out of your fixed deposits you need to know the various rates offered by top lenders in India.

Here are the interest rates offered by top banks like State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank.State Bank of India (SBI) Fixed Deposit Rates:

SBI revised interest rates on retail domestic term deposits (Below rupees One Crore) with effect from July 1, 2017, according to its website.

The revised interest rates are as under:
 
TenorsRevised For Public w.e.f. 01.07.2017
(In %)
Revised for Senior Citizens w.e.f. 01.07.2017 (In %)
7 days to 45 days
5.5
6
46 days to 179 days
6.5
7
180 days to 210 days
6.5
7
211 days to less than 1 year
6.5
7
1 year
6.75
7.25
Above 1 year to 455 days
6.5
7
456 days to less than 2 years
6.5
7
2 years to less than 3 years
6.25
6.75
3 years to less than 5 years
6.25
6.75
5 years and up to 10 years
6.25
6.75
 

ICICI Bank Fixed Deposit Rates:

Interest rates on Domestic, NRO & NRE deposits(Less than Rs 1 crore)
 
Tenure Period
Rate of Interest (% p.a.) w.e.f July 19, 2017
GeneralSenior Citizen*
7 days to 14 days44.5
15 days to 29 days4.254.75
30 days to 45 days5.56
46 days to 60 days5.756.25
61 days to 90 days66.5
91 days to 120 days66.5
121 days to 184 days66.5
185 days to 289 days6.256.75
290 days to less than 1 year6.57
1 year to 389 days6.757.25
390 days to 2 years6.757.25
2 years 1 day upto 5 years6.57
5 years 1 day upto 10 years6.57
5 Years Tax saver FD(Max upto Rs. 1.50 lac)6.57
 

HDFC Bank Fixed Deposit Rates:

Domestic / NRO / NRE Term Deposits
 
Period< 1 Crore>=1 Crore to < 5 Crores
Interest Rate **Senior Citizen Rates Interest Rate **Senior Citizen Rates 
(per annum)(per annum)(per annum)(per annum)
7 - 14 days3.50%4.00%4.25%4.75%
15 - 29 days4.25%4.75%4.25%4.75%
30 - 45 days5.50%6.00%4.25%4.75%
46 - 60 days5.75%6.25%4.50%5.00%
61 - 90 days5.75%6.25%4.50%5.00%
91 days - 6 months5.75%6.25%5.75%6.25%
6 mnths 1 day- 6 mnths 3 days6.00%6.50%5.25%5.75%
6 mnths 4 days6.00%6.50%6.25%6.75%
6 mnths 5 days- 9 mnths6.00%6.50%5.25%5.75%
9 mnths 1 day- 9 mnths 3 days6.00%6.50%5.25%5.75%
9 mnths 4 days6.00%6.50%6.25%6.75%
9 months 5 days - 9 months 15 days6.00%6.50%5.25%5.75%
9 months 16 days6.25%6.75%5.25%5.75%
9 months 17 days < 1 Year6.25%6.75%5.25%5.75%
1 Year6.75%7.25%4.90%5.40%
1 year 1 day - 1 year 3 days6.75%7.25%4.90%5.40%
1 year 4 days6.25%6.75%6.50%7.00%
1 year 5 days - 1 Year 15 Days6.25%6.75%5.00%5.50%
1 Year 16 days6.25%6.75%5.00%5.50%
1 year 17 days - 2 Years6.25%6.75%5.00%5.50%
2 years 1day - 2 Years 15 days6.00%6.50%4.85%5.35%
2 Years 16 days6.00%6.50%4.85%5.35%
2 years 17 days - 3 Years6.00%6.50%4.85%5.35%
3 years 1day - 5 years6.00%6.50%4.85%5.35%
5 Years 1 Day - 8 Years6.00%6.50%4.85%5.35%
8 Years 1 Day - 10 Years6.00%6.50%4.85%5.35%
 

Punjab National Bank Fixed Deposit Rates:

 
  Domestic TD Less Than Rs.1 Cr.Domestic TD Rs.1 Cr. To Rs 10 Cr #NRE TD Less Than Rs. 1 CrNRE TD Rs. 1 Cr. To Rs. 10 Cr.PNB Tax Saver FD
W.E.F. 19.08.2017W.E.F. 03.02.2017W.E.F. 19.08.2017W.E.F. 03.02.2017
Sl. NoPeriodROI (% p.a.)A.Y.**For Senior Citizen ROI (% p.a.)ROI (% p.a.)A.Y.**ROI (% p.a.)ROI (% p.a.)ROI (% p.a.)
17 to 14 days444.544NANANA
215 to 29days444.544NANANA
330 to 45 days4.54.5544NANANA
446 to 90 days5.55.5644NANANA
591 to 179 days666.544NANANA
6180 days to 270 Days6.256.36.754.254.27NANANA
7271 days to less than 1 year6.256.356.754.254.3NANANA
81 year6.66.777.14.54.586.64.5NA
9above 1 year & upto 3 years6.56.6674.54.586.54.5NA
10above 3 year & upto 5 years6.256.826.754.54.796.254.5Public (General)- 6.25 (for 5 years) 6.25 ( for above 5years to 10 years)
Sr. Citizen (General)- 6.75 (for 5 years) 6.75 ( for above 5years to 10 years)
Staff member- 7.25 (for 5 years) 7.25 ( for above 5years to 10 years)
11above 5 years & upto 10 years6.257.276.754.55.026.254.5Retired Staff (Sr. Citizen)- 7.25(for 5 years) 7.25 ( for above 5years to 10 years)
 

Axis Bank Fixed Deposit Rates:

 
   
PERIODINTEREST RATES (% P.A.)
   
 INTEREST RATE ON DEPOSITSINTEREST RATES ON DEPOSITS OF
 BELOW RS. 1 CRORERS. 1 CRORE < RS.5 CRORES
   
7 days to 14 days3.55.5
15 days to 29 days3.55.5
30 days to 45 days5.55.5
46 days to 60 days66
61 days < 3 months66
3 months < 4 months6.256
4 months < 5 months6.256
5 months < 6 months6.256
6 months < 7 months6.56.25
7 months < 8 months6.56.25
8 months < 9 months6.56.25
9 months < 10 months6.56.25
10 months < 11 months6.56.25
11 months < 1 year6.56.25
1 year < 13 months6.756.5
13 months < 14 months6.756.5
14 months < 15 months6.756.5
15 months < 16 months6.756.5
16 months < 17 months6.756.5
17 months < 18 months6.756.5
18 Months < 2 years6.256
2 years < 30 months6.256
30 months < 3 years6.256
3 years < 5 years6.256
5 years to 10 years6.256
 

Kotak Mahindra Bank Fixed Deposit Rates:

 
Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from 18th Aug 2017 (subject to change from time to time)
 RegularSenior Citizen*
Maturity Periods - Premature Withdrawal Allowed Less than Rs. 1 Crore# Annualised Yield Less than Rs. 1 Crore# Annualised Yield 
7 - 14 Days3.50% 3.50% 4.00% 4.00% 
15 - 30 Days4.00% 4.00% 4.50% 4.50% 
31 - 45 Days5.00% 5.00% 5.50% 5.50% 
46 - 90 Days5.40% 5.40% 5.90% 5.90% 
91 - 120 Days5.60% 5.60% 6.10% 6.10% 
121 - 179 days6.00% 6.00% 6.50% 6.50% 
180 Days6.40% 6.40% 6.90% 6.90% 
181 Days to 269 Days6.40% 6.50% 6.90% 7.02% 
270 Days6.40% 6.50% 6.90% 7.02% 
271 Days to 363 Days6.40% 6.50% 6.90% 7.02% 
364 Days6.60% 6.71% 7.10% 7.23% 
365 Days to 389 Days6.60% 6.77% 7.10% 7.92% 
390 Days (12 months 25 days)6.60% 6.77% 7.10% 7.92% 
391 Days - Less than 23 Months6.50% 6.66% 7.00% 7.19% 
23 Months6.40% 6.56% 6.90% 7.08% 
23 months 1 Day- less than 2 years6.40% 6.56% 6.90% 7.08% 
2 years- less than 3 years6.40% 6.56% 6.90% 7.08% 
3 years and above but less than 4 years6.25% 6.40% 6.75% 6.92% 
4 years and above but less than 5 years6.25% 6.40% 6.75% 6.92% 
5 years and above upto and inclusive of 10 years6.00% 6.14% 6.50% 6.66% 
 

Bank of Baroda Fixed Deposit Rates:

For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %)
- Below Rs. One Crore
 
TenorsBelow Rs 1 Cr. (w.e.f. 01.08.17)
7 days to 14 days4.5
15 days to 45 days4.5
46 days to 90 days5.75
91 days to 180 days6.25
181 days to 270 days6.3
271 days & above and less than 1 year6.4
1 year6.6
Above 1 year to 400 days6.65
Above 400 days and upto 2 Years6.5
Above 2 Years and upto 3 Years6.5
Above 3 Years and upto 5 Years6.5
Above 5 Years and upto 10 Years6.5

Interest Rates for Domestic Term Deposits & NRO Deposits of more than Rs 10 Crores & Up to Rs 50 Crores (Fresh & Renewal)
 
TenorsRs 1 Cr to Rs 10 Cr. (w.e.f. 05.09.2017)
7 days to 14 days4
15 days to 45 days4
46 days to 90 days4
91 days to 180 days4.4
181 days to 270 days4.5
271 days & above and less than 1 year4.55
1 year5.25
Above 1 year and upto 2 Years5.25
Above 2 Years and upto 3 Years5.25
Above 3 Years and upto 5 Years5.25
Above 5 Years and upto 10 Years5.25
Above 10 Years and upto 20 Years#5.25
 

Although, bank FDs are most popular savings instrument in India, you must know that interest earned from an fixed deposit is taxable. Banks are liable to deduct TDS at the rate of 10 per cent on the interest earned (based on FD interest rates) if the interest income for the year is more than Rs. 10,000.

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