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Here Are The Fixed Deposit (FD) Interest Rates Of Five Banks

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.

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Here Are The Fixed Deposit (FD) Interest Rates Of Five Banks

Fixed deposit interest rates are higher than those offered by savings accounts.


A fixed deposit (FD) is a financial instrument that offers a fixed income on deposit of money. This cash deposit is for a specific maturity period - ranging from few days to few years - also known as term of the fixed deposit. Fixed deposit interest rates are higher than those offered by savings accounts. Some fixed deposit accounts come with the facility of premature withdrawal while some have a compulsory lock-in period. On a fixed deposit under Rs 2 crore for a period of one-year, SBI offers an interest of 6.8 per cent, HDFC Bank of 7.3 per cent and ICICI Bank of 6.9 per cent to general public.

Given below are the latest interest rates offered by State Bank of India (SBI), ICICI Bank, HDFC Bank, Canara Bank and Yes Bank on fixed deposits (FDs) below Rs 2 crore:

State Bank of India

Given below are the latest SBI FD interest rates on deposits below Rs 2 crore:

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 below Rs 2 crore from March 7, 2019 according to 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 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 2 crore according to 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

 

Canara Bank

Given below are the latest FD interest rates according to canarabank.com:

DomesticRate of Interest (%) p.a. For deposits less than Rs 2 crore from March 12, 2019
Term Deposits (All Maturities)General Public Rate of Interest (% p.a)Senior Citizen Rate of Interest (% p.a)
7 days to 14 days5.756.25
15 days to 30 days5.756.25
31 days to 45 days5.756.25
46 days to 60 days6.256.75
61 days to 90 days6.256.75
91 days to 120 days6.256.75
121 days to 179 days6.256.75
180 days to 269 days6.356.85
270 days to less than 1 year6.46.9
1 year only77.5
Above 1 year to less than 2 years77.5
2 years & above to less than 3 years6.77.2
3 years & above to less than 5 years6.26.7
5 years & above to less than 8 years6.26.7
8 years & above to 10 years6.26.7
444 Days (Canara Shikhar Deposit)7.057.55
555 Days (Canara Shikhar Deposit)7.17.6

 

Yes Bank 

Given below are the latest Yes Bank FD interest rates according to yesbank.in:

PeriodRates for < 2 Crore w.e.f March 5, 2019
RegularSenior Citizen
Interest RatesInterest Rates
7 to 45 days5.00%5.50%
46 to 90 days6.25%6.75%
3 months to < 6 months6.50%7.00%
6 months to < 9 months6.85%7.35%
9 months to < 1 Year7.15%7.65%
1 Years to <= 10 years*7.25%7.75%
12 Months 10 Days to 12 Months 20 Days7.50%8.00%
18 Months 8 Days to 18 Months 18 Days7.85%8.35%
36 Months 10 Days to 36 Months 20 Days7.50%8.00%

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.

 



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