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Bank FD Interest Rates On Deposits Below Rs 1 Crore

FD interest rates of most banks are higher for senior citizens as compared to those for the general public.

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Bank FD Interest Rates On Deposits Below Rs 1 Crore

Bank FDs can be started for specific period, which can be as short as 7 days.


Bank fixed deposit (FD), a secure investment instrument, offers higher interest rates than the deposits in savings accounts. Bank FDs can be started for specific period, which can be as short as 7 days. FD interest rates of most banks are higher for senior citizens as compared to those for the general public. The interest rates vary according to separate maturity baskets across different lenders. Investors can opt for a monthly, quarterly and annual interest payout.  Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Punjab National Bank (PNB), among others offer the facility of opening a fixed deposit.

(Also read: How Recurring Deposit (RD) Interest Rates Offered By SBI, Post Office Compare)

Given below are the latest interest rates offered by SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and PNB Bank on fixed deposits (FDs):

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 days5.756.25
46 days to 179 days6.256.75
180 days to 210 days6.356.85
211 days to less than 1 year6.46.9
1 year to less than 2 year6.87.3
2 years to less than 3 years6.87.3
3 years to less than 5 years6.87.3
5 years and up to 10 years6.857.35
(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 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 up to Rs. 1.50 lakh)7.257.75
(Source: icicibank.com)

 

Kotak Mahindra Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore with effect from February 21,2019 according to the bank's website - kotak.com:

Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from February 21, 2019
Maturity Periods - Premature Withdrawal AllowedGeneral public 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 Days6.75%7.25%
181 Days to 269 Days6.75%7.25%
270 Days6.75%7.25%
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 up to and inclusive of 10 years6.50%7.00%

 

Punjab National Bank (PNB)

The following FD interest rates are applicable on deposits below Rs. 1 crore with effect from February 1,2019 according to the bank's website - pnbindia.in:

Interest rate applicable to domestic/NRO fixed deposits up to Rs. 1 crore (with effect from 01.02.2019)
Maturity period (term)For general publicFor senior citizens
7 to 14 days5.75%6.25%
15 to 29 days5.75%6.25%
30 to 45 days5.75%6.25%
46 to 90 days6.35%6.85%
91 to 179 days6.35%6.85%
111 days6.5%7%
180 days to 270 Days6.35%6.85%
222 days6.6%7.1%
271 days to less than 1 year6.35%6.85%
333 days7.1%7.6%
1 year6.75%7.25%
555 days (effective for a period of 01.11.2018 to 31.03.2019)6.85%7.35%
above 1 year & up to 3 years6.75%7.25%
above 3 year & up to 5 years6.25%6.75%
above 5 years & up to 10 years6.25%6.75%
(Source: pnbindia.in)  

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.



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