Looking To Invest In Fixed Deposits? Compare Interest Rates Paid By Top Banks
Fixed deposits or FDs are secure financial instruments, which offer guaranteed returns. FD interest rates vary according to the tenure of the fixed deposit and across banks. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period. Fixed deposit interest rates are also higher than those offered by savings accounts. The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961.
Given below is a comparison of fixed deposit (FD) interest rates paid by SBI, HDFC Bank, ICICI Bank and :
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from February 22, 2019, according to sbi.co.in:
| Period | General public (% p.a.) | Senior citizens (% p.a.) |
|---|---|---|
| 7 days to 45 days | 5.75 | 6.25 |
| 46 days to 179 days | 6.25 | 6.75 |
| 180 days to 210 days | 6.35 | 6.85 |
| 211 days to less than 1 year | 6.40 | 6.90 |
| 1 year to less than 2 year | 6.80 | 7.30 |
| 2 years to less than 3 years | 6.80 | 7.30 |
| 3 years to less than 5 years | 6.80 | 7.30 |
| 5 years and up to 10 years | 6.85 | 7.35 |
HDFC Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from April 11, 2019, according to hdfcbank.com:
| Period | General public (% p.a.) | Senior citizen (% p.a.) |
|---|---|---|
| 7 - 14 days | 3.50 | 4.00 |
| 15 - 29 days | 4.25 | 4.75 |
| 30 - 45 days | 5.75 | 6.25 |
| 46 - 60 days | 6.25 | 6.75 |
| 61 - 90 days | 6.25 | 6.75 |
| 91 days - 6 months | 6.25 | 6.75 |
| 6 months 1 day- 6 months 3 days | 6.75 | 7.25 |
| 6 months 4 days | 6.75 | 7.25 |
| 6 months 5 days - 9 months | 6.75 | 7.25 |
| 9 months 1 day- 9 months 3 days | 7.10 | 7.60 |
| 9 months 4 days | 7.10 | 7.60 |
| 9 months 5 days - 9 months 15 days | 7.10 | 7.60 |
| 9 months 16 days | 7.10 | 7.60 |
| 9 months 17 days < 1 Year | 7.10 | 7.60 |
| 1 Year | 7.30 | 7.80 |
| 1 year 1 day - 1 year 3 days | 7.30 | 7.80 |
| 1 year 4 days | 7.30 | 7.80 |
| 1 year 5 days - 1 Year 15 Days | 7.30 | 7.80 |
| 1 Year 16 days | 7.30 | 7.80 |
| 1 year 17 days - 2 Years | 7.30 | 7.80 |
| 2 years 1 day - 2 Years 15 days | 7.40 | 7.90 |
| 2 Years 16 days | 7.40 | 7.90 |
| 2 years 17 days - 3 Years | 7.40 | 7.90 |
| 3 years 1 day - 5 years | 7.25 | 7.75 |
| 5 Years 1 Day - 8 Years | 6.50 | 7.00 |
| 8 Years 1 Day - 10 Years | 6.50 | 7.00 |
ICICI Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from March 7, 2019, according to icicibank.com:
| Period | General public (% p.a.) | Senior citizens (% p.a.) |
|---|---|---|
| 7 days to 14 days | 4 | 4.5 |
| 15 days to 29 days | 4.25 | 4.75 |
| 30 days to 45 days | 5.5 | 6 |
| 46 days to 60 days | 6 | 6.5 |
| 61 days to 90 days | 6.25 | 6.75 |
| 91 days to 120 days | 6.25 | 6.75 |
| 121 days to 184 days | 6.25 | 6.75 |
| 185 days to 289 days | 6.5 | 7 |
| 290 days to less than 1 year | 6.75 | 7.25 |
| 1 year to 389 days | 6.9 | 7.4 |
| 390 days to 2 years | 7.1 | 7.6 |
| 2 years 1 day up to 3 years | 7.5 | 8 |
| 3 years 1 day up to 5 years | 7.25 | 7.75 |
| 5 years 1 day up to 10 years | 7 | 7.5 |
| 5 Years Tax saver FD (Max up to Rs. 1.50 lac) | 7.25 | 7.75 |
Punjab National Bank (PNB)
The following FD interest rates are applicable on deposits below Rs 2 crore from March 1, 2019, according to pnbindia.in:
| Period | General public (% p.a.) | Senior citizen (% p.a.) |
|---|---|---|
| 7 to 14 days | 5.75 | 6.25 |
| 15 to 29 days | 5.75 | 6.25 |
| 30 to 45 days | 5.75 | 6.25 |
| 46 to 90 days | 6.35 | 6.85 |
| 91 to 179 days | 6.35 | 6.85 |
| 111 days | 6.5 | 7 |
| 180 days to 270 Days | 6.35 | 6.85 |
| 222 days | 6.6 | 7.1 |
| 271 days to less than 1 year | 6.35 | 6.85 |
| 333 days | 7.1 | 7.6 |
| 1 year | 6.75 | 7.25 |
| 555 days | 6.85 | 7.35 |
| above 1 year & up to 3 years | 6.75 | 7.25 |
| above 3 year & up to 5 years | 6.25 | 6.75 |
| above 5 years & up to 10 years | 6.25 | 6.75 |
Fixed deposits are also offered by small finance banks, non-banking finance companies and post offices.