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Fixed Deposit (FD) Account: Interest Rates, Tenure, Other Details

The annual returns on fixed deposit investments are fixed even amid market fluctuations and geopolitical uncertainties, say financial experts.

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Fixed Deposit (FD) Account: Interest Rates, Tenure, Other Details

Besides banks, post offices and companies also offer fixed deposits.


Fixed Deposits (FDs) are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. The annual returns on fixed deposit investments are fixed even if there are market fluctuations or geopolitical uncertainties, say financial experts. FDs are of two types: with premature withdrawal facility and without premature without facility. The fixed deposits which offer premature withdrawal facility do not offer income tax benefits. On the other hand, FDs without a premature withdrawal facility offer income tax benefits but require a lock-in period of five or ten years.

FD interest rates vary from one bank to another, depending on factors such as the term of the fixed deposit and amount invested. 

Here's a comparison of interest rates offered by State Bank of India (SBI), HDFC Bank, ICICI Bank and IndusInd Bank on fixed deposits up to Rs 2 crore:

State Bank of India (SBI)

The following FD interest rates are applicable on deposits up to Rs 2 crore, according to sbi.co.in:

TenorsRevised For Public w.e.f. 22.02.2019Revised for Senior Citizens w.e.f. 22.02.2019
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 year6.8%7.3%
2 years to less than 3 years6.8%7.3%
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 up to Rs 2 crore from March 7, 2019, according to bank's website- hdfcbank.com:

Period

Interest Rate

(per annum)

Senior Citizen Rates

(per annum)

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%

ICICI Bank

The following FD interest rates are applicable on deposits up to Rs 2 crore, according to bank's website- icicibank.com:

Rate of Interest applicable from March 7, 2019
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 upto Rs. 1.50 lac)7.257.75

IndusInd Bank

The following FD interest rates are applicable on deposits below Rs. 2 crore:

Maturity PeriodDomestic (resident) deposits/ NRO deposits <2 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 Years8
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, according to bank's website, indusind.com.



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