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Fixed Deposit (FD) Interest Rates Offered By Top Banks

Some fixed deposits (FDs) come with a premature withdrawal facility while some require a compulsory lock-in period.

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Fixed Deposit (FD) Interest Rates Offered By Top Banks

Interest rates on fixed deposits are revised by banks from time to time.


Fixed deposit (FD) is a financial instrument that offers guaranteed returns. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Some FDs come with a premature withdrawal facility while some require a compulsory lock-in period. Interest rates on fixed deposits are revised by banks from time to time. Interest rate on an FD varies from one bank to another, depending upon factors such as MCLR (marginal cost of funds-based lending rate), maturity period or term and the deposit amount. 

State-run State Bank of India (SBI) currently pays interest rates to the tune of 5.75-6.85 per cent per annum on domestic fixed deposits up to Rs 2 crore for general public, while the private sector peers like HDFC Bank and ICICI Bank pay anywhere between 3.50 per cent and 7.40 per cent per annum on domestic fixed deposits up to Rs 1 crore for general public.

Given below are the latest interest rates offered by SBI, HDFC Bank, ICICI Bank and Central Bank of India on fixed deposits (FDs):

State Bank of India (SBI)

The following FD interest rates are applicable on deposits below Rs 2 crore, according to the bank's website - 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 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 applicable on 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)

 

Central Bank of India

The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - centralbankofindia.co.in:

Sr.No.Maturity PeriodLess than 1 cr w.e.f 25/01/2019
17 -14 days4.8%
215 - 30 days5.55%
331 - 45 days5.55%
446 - 59 days5.55%
560 - 90 days5.55%
691 - 179 days6.5%
7180 - 270 days6.55%
8271 - 364 days6.55%
91 yr to less than 2 yrs6.65%
102 yr to less than 3 years6.55%
113 yr to less than 5 years6.55%
125 years & above up to 10 years6.55%
13555 days6.65%
14777 days6.55%
15Cent Double6.55%

 

Just like banking peers, post offices also offer the facility of opening an FD account. Post office fixed deposit (FD) account offers interest rates across four maturities: one year, two years, three years, and five years, according to India Post's official website- indiapost.gov.in.



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