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Looking To Invest In A Bank Fixed Deposit (FD)? These Are The Returns You Get

Fixed deposit (FD) interest rates: Most banks offer fixed deposits starting from seven days up to a tenor of 10 years.

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Looking To Invest In A Bank Fixed Deposit (FD)? These Are The Returns You Get

The interest rates on FDs vary according to separate maturity baskets across different banks.


Bank fixed deposits (FDs) are fixed-income instruments which guarantee a fixed rate of return on investments. Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, among others offer the facility of opening a fixed deposit. These days FDs can also be created online. Some fixed deposits offer the benefit of income tax deduction. However, bank fixed deposits which come with a premature withdrawal facility do not offer income tax deduction benefits. FD accounts which do not offer a premature withdrawal facility offer this benefit but have a lock-in period.

The interest rates on FDs vary according to separate maturity baskets across different banks. Most banks offer fixed deposits starting from seven days up to a tenor of 10 years. However, fixed deposit interest rates are subject to change from time to time.

Given below are the latest interest rates offered by SBI, HDFC Bank, ICICI Bank and IndusInd Bank on fixed deposits up to Rs 1 crore:

State Bank of India (SBI)

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

TenorsRevised For Public w.e.f. 28.11.2018Revised for Senior Citizens w.e.f. 28.11.2018
7 days to 45 days5.756.25
46 days to 179 days6.256.75
180 days to 210 days6.356.85
211 days to less than 1 year6.46.9
1 year to less than 2 year6.87.3
2 years to less than 3 years6.87.3
3 years to less than 5 years6.87.3
5 years and up to 10 years6.857.35
(Source: sbi.co.in)

 

HDFC Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore with effect 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 months 1 day- 6 months 3 days6.75%7.25%
6 months 4 days6.75%7.25%
6 months 5 days- 9 months6.75%7.25%
9 months 1 day- 9 months 3 days7.10%7.60%
9 months 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 1 day - 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 1 day - 5 years7.25%7.75%
5 Years 1 day - 8 Years6.50%7.00%
8 Years 1 day - 10 Years6.50%7.00%
(Source: hdfcbank.com)

 

ICICI Bank

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

Rate of Interest (% p.a.) w.e.f November 15, 2018
Tenure PeriodGeneralSenior 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 up to 3 years7.58
3 years 1 day up to 5 years7.257.75
5 years 1 day up to 10 years77.5
5 years Tax saver FD (max up to Rs. 1.50 lakh)7.257.75
(Source: icicibank.com)

IndusInd Bank:

The following FD interest rates are applicable on deposits below Rs. 1 crore with effect from October 5 2018, according to the bank's website - indusind.com:

Maturity PeriodDomestic (Resident) Deposits/ NRO Deposits
 <1 crore
 Rates p.a.(%)
7 days to 14 days3.75
15 days to 30 days4.25
31 days to 45 days5.75
46 days to 60 days6
61 days to 90 days6.25
91 days to 120 days6.5
121 days to 180 days6.75
181 days to 210 days7.25
211 days to 269 days7.25
270 days or below 1 years7.5
1 Years to 1 Years 2 Months8
Above 1 Years 2 Months to below 2 Years7.75
2 years to below 2 years 6 Months7.5
2 years 6 Months to below 2 years 9 Months7.5
2 years 9 Months to below 3 years7.5
3 years to below 61 month7.5
61 month and above7.25
Indus Tax Saver Scheme (5 years)7.5

An additional interest rate of 0.50 per cent over and above the card rates is applicable for term deposits of senior citizens for value below Rs. 1 crore, said IndusInd Bank.



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