Profit

Bank Fixed Deposit (FD): Interest Rates For Regular, Senior Citizens Compared

Fixed Deposit rate: The interest rates on fixed deposits (FDs), which are revised from time to time, vary according to the tenor of a fixed deposit.

 Share
EMAIL
PRINT
COMMENTS
Bank Fixed Deposit (FD): Interest Rates For Regular, Senior Citizens Compared

FD rates: Customers can avail bank fixed deposits from a minimum of seven days to 10 years.


Bank fixed deposits (FDs) are investment products which give a higher rate of interest than a savings bank accounts as investors make a lump sum deposit in fixed deposit accounts for a specified period of time. The interest rates on fixed deposits (FDs) are revised regularly depending upon the interest rate cycle set by the Reserve Bank of India and the interest varies for various tenors of a fixed deposit. Customers can avail bank fixed deposits from a minimum of seven days and up to maximum of 10 years. Interest payout frequencies that a customer can choose with fixed deposits are monthly, quarterly or at maturity (cumulative FDs). (Also read: Here's How You Can Save With SBI Holiday Savings Account)

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

State Bank of India (SBI)

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

Kotak Mahindra Bank

The following FD interest rates are applicable on deposits below Rs 2 crore according to kotak.com:

INTEREST RATES FOR Domestic / NRO / NRE FIXED DEPOSITS effective from 26th March 2019. (Rates are subject to change from time to time)
Maturity Periods - Premature Withdrawal AllowedLess than Rs.2 Crore (For Regular citizens)Less than Rs.2 Crore (For senior citizens)
7 - 14 Days3.50%4.00%
15 - 30 Days4.00%4.50%
31 - 45 Days5.00%5.50%
46 - 90 Days5.50%6.00%
91 - 120 Days6.25%6.75%
121 - 179 days6.25%6.75%
180 Days6.50%7.00%
181 Days to 269 Days6.60%7.10%
270 Days6.60%7.10%
271 Days to 363 Days7.00%7.50%
364 Days7.00%7.50%
365 Days to 389 Days7.00%7.50%
390 Days (12 months 25 days)7.20%7.70%
391 Days - Less than 23 Months7.20%7.70%
23 Months7.20%7.70%
23 months 1 Day- less than 2 years7.20%7.70%
2 years- less than 3 years7.10%7.60%
3 years and above but less than 4 years7.00%7.50%
4 years and above but less than 5 years7.00%7.50%
5 years and above upto and inclusive of 10 years6.50%7.00%

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.



Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

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

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

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

Top