Profit

Fixed Deposit (FD) Interest Rates Offered By Commercial Banks, Small Finance Banks Compared

The funds in fixed deposits (FDs) are held for a fixed term and offer assured returns.

 Share
EMAIL
PRINT
COMMENTS
Fixed Deposit (FD) Interest Rates Offered By Commercial Banks, Small Finance Banks Compared

Fixed deposit is an interest-bearing bank deposit account that has a specified date of maturity.


Fixed deposits (FDs), also known as term deposits, are secure investment instruments offered by private and public sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices. FD is an interest-bearing bank deposit account that has a specified date of maturity. The funds in these accounts are held for a fixed term and offer assured returns. When a term deposit is purchased, the client understands that the money can only be withdrawn after the term has ended or by giving a predetermined number of days notice. 

Fixed deposit interest rates vary according to the tenor of a fixed deposit. FDs of small finance banks such as Equitas Small Finance Bank and AU Small Finance Bank offer higher interest rates than larger peers like State Bank of India (SBI), HDFC Bank and ICICI Bank.

 

Given below are interest rates offered by large commercial banks and some small finance banks on fixed deposits of up to Rs 1 crore:

 

State Bank of India (SBI)

The following FD interest rates are applicable on deposits below Rs 1 crore as mentioned on bank's website- sbi.co.in:

Maturity period (term)Interest rate with effect from July 30, 2018
General publicSenior citizen
7 days to 45 days5.75%6.25%
46 days to 179 days6.25%6.75%
180 days to 210 days6.35%6.85%
211 days to less than 1 year6.4%6.9%
1 year to less than 2 year6.7%7.2%
2 years to less than 3 years6.75%7.25%
3 years to less than 5 years6.8%7.3%
5 years and up to 10 years6.85%7.35%
(Source: sbi.co.in)

 

HDFC Bank

The following FD interest rates are applicable on deposits below Rs 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:

PeriodInterest rate on FD less than Rs 1 Crore
 General publicSenior citizen
7 - 14 days3.50%4.00%
15 - 29 days4.25%4.75%
30 - 45 days5.75%6.25%
46 - 60 days6.25%6.75%
61 - 90 days6.25%6.75%
91 days - 6 months6.25%6.75%
6 mnths 1 day- 6 mnths 3 days6.75%7.25%
6 mnths 4 days6.75%7.25%
6 mnths 5 days- 9 mnths6.75%7.25%
9 mnths 1 day- 9 mnths 3 days7.10%7.60%
9 mnths 4 days7.10%7.60%
9 months 5 days - 9 months 15 days7.10%7.60%
9 months 16 days7.10%7.60%
9 months 17 days < 1 Year7.10%7.60%
1 Year7.30%7.80%
1 year 1 day - 1 year 3 days7.30%7.80%
1 year 4 days7.30%7.80%
1 year 5 days - 1 Year 15 Days7.30%7.80%
1 Year 16 days7.30%7.80%
1 year 17 days - 2 Years7.30%7.80%
2 years 1day - 2 Years 15 days7.40%7.90%
2 Years 16 days7.40%7.90%
2 years 17 days - 3 Years7.40%7.90%
3 years 1day - 5 years7.25%7.75%
5 Years 1 Day - 8 Years6.50%7.00%
8 Years 1 Day - 10 Years6.50%7.00%

 

ICICI Bank

The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - icicibank.com:

Tenure PeriodRate of Interest (% p.a.) w.e.f November 15, 2018
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 days66.5
61 days to 90 days6.256.75
91 days to 120 days6.256.75
121 days to 184 days6.256.75
185 days to 289 days6.57
290 days to less than 1 year6.757.25
1 year to 389 days6.97.4
390 days to 2 years7.17.6
2 years 1 day upto 3 years7.58
3 years 1 day upto 5 years7.257.75
5 years 1 day upto 10 years77.5
5 Years Tax saver FD(Max upto Rs. 1.50 lac)7.257.75

 

Equitas Small Finance Bank

The following FD interest rates are applicable on deposits below Rs 1 crore from November 1, 2018 according to the bank's website - equitasbank.com: 

Maturity period (term)Interest rate (General public)
7 - 14 days5.00%
15 - 29 days5.50%
30 - 45 days6.00%
46 - 62 days6.25%
63 - 90 days6.25%
91 - 120 days6.50%
121 - 180 days6.50%
181 - 210 days6.75%
211 - 270 days6.75%
271 - 364 days7.50%
1 year to 18 months8.50%
18 months 1 day to 2 years8.75%
2 years 1 day to 3 years8.80%
3 years 1 day to 4 years7.00%
4 years 1 day to 5 years7.00%
5 years 1 day to 10 years7.00%

Senior citizens get 0.75 per cent extra on the above mentioned rates, said the bank.

 

AU Small Finance Bank

The following FD interest rates are applicable on deposits below Rs 1 crore from October 10, 2018 according to the bank's website - aubank.in: 

 

Maturity period (term)Interest rate with effect from October 10, 2018
 GeneralSenior citizen
7 Days to 1 Month 15 Days5.50%6.00%
1 Month 16 Days to 3 Months6.75%7.25%
3 Months 1 Day to 6 Months6.90%7.40%
6 Months 1 Day  to 13 Months7.00%7.50%
13 Months 1 Day to 18 Months8.25%8.75%
18 Months 1 Day to 24 Months8.50%9.00%
24 Months 1 Day to 36 Months7.75%8.25%
36 Months 1 Day to 45 Months7.75%8.25%
45 Months 1 Day to 60 Months8.00%8.50%
60 Months 1 Day to 120 Months7.25%7.75%
Source: aubank.in  

 

Suryoday Bank

The following FD interest rates are applicable on deposits below Rs 1 crore from September 29, 2018 according to the bank's website - suryodaybank.com: 

 

Maturity period (term)Interest rate with effect from September 29, 2018
 GeneralSenior citizen
7 days to 14 days4.00%4.50%
15 days to 45 days4.00%4.50%
46 days to 90 days5.00%5.50%
91 days to 180 days5.50%6.00%
181 days to 240 days7.50%8.00%
241 days to less than 1 Year7.75%8.25%
1 Year to 2 Years8.50%9.00%
Above 2 Years to 3 Years8.75%9.25%
950 Days*9.00%9.50%
Above 3 Years to less than 5 Years8.00%8.50%
5 Years8.25%8.75%
Above 5 Years to 10 Years7.25%7.75%
Source: suryodaybank.com

In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top