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Interest You Can Earn On Fixed Deposit In Top Banks: Return, Lock-In Period And Other Details

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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Interest You Can Earn On Fixed Deposit In Top Banks: Return, Lock-In Period And Other Details

The interest rates on fixed deposit (FD) vary across banks according to the tenor of a fixed deposit.


Bank fixed deposits or FDs are fixed-income instruments which guarantee a fixed rate of return on investments. Major lenders such as State Bank of India (SBI), HDFC Bank and ICICI Bank offer the facility of fixed deposits. Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period. The interest rates on fixed deposits (FDs), which are revised from time to time, vary according to the tenor of a fixed deposit. Most banks offer fixed deposits starting from seven days up to a tenor of 10 years.

(Also read: Investment In Five-Year Tax-Saving Fixed Deposit Can Fetch These Returns)

Given below are the latest fixed deposit interest rates offered by SBI, HDFC Bank, ICICI Bank and Kotak Mahindra Bank:

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 days5.75%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 for 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 for 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 days4%4.5%
15 days to 29 days4.25%4.75%
30 days to 45 days5.5%6%
46 days to 60 days6%6.5%
61 days to 90 days6.25%6.75%
91 days to 120 days6.25%6.75%
121 days to 184 days6.25%6.75%
185 days to 289 days6.5%7%
290 days to less than 1 year6.75%7.25%
1 year to 389 days6.9%7.4%
390 days to 2 years7.1%7.6%
2 years 1 day up to 3 years7.5%8%
3 years 1 day up to 5 years7.25%7.75%
5 years 1 day up to 10 years7%7.5%
5 years Tax saver FD (max up to Rs. 1.50 lakh)7.25%7.75%
(Source: icicibank.com)

Kotak Mahindra Bank

The following FD interest rates are for deposits below Rs 1 crore with effect from December 20, 2018 according to the bank's website - kotak.com:

Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from 20th December 2018
Maturity Periods - Premature Withdrawal AllowedRegular Less than Rs 1 CroreSenior citizen Less than Rs 1 Crore
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 Days7.00%7.50%
181 Days to 269 Days7.00%7.50%
270 Days7.00%7.50%
271 Days to 363 Days7.00%7.50%
364 Days7.00%7.50%
365 Days to 389 Days7.30%7.80%
390 Days (12 months 25 days)7.40%7.90%
391 Days - Less than 23 Months7.30%7.80%
23 Months7.25%7.75%
23 months 1 Day- less than 2 years7.25%7.75%
2 years- less than 3 years7.25%7.75%
3 years and above but less than 4 years7.10%7.60%
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%

Post offices also offer the option of opening a fixed deposit (FD) account. The government recently revised interest rates on post office fixed deposit scheme for the quarter ending March 31, 2019.



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