Profit

Fixed Deposit (FD) Interest Rates: Returns Offered By Commercial Banks, Small Finance Banks

Fixed Deposit Interest Rates: Small finance banks (SFBs) offer higher interest rates on FDs as compared to the mainstream peers.

 Share
EMAIL
PRINT
COMMENTS
Fixed Deposit (FD) Interest Rates: Returns Offered By Commercial Banks, Small Finance Banks

Fixed Deposit Interest Rates: The interest rates on FDs vary according to the tenor of a fixed deposit.


Fixed deposit (FDs), also known as term deposits, are secure investment instruments offered by private and public sector banks, small finance banks (SFBs), non-banking financial companies (NBFCs) and post offices. The funds in these accounts are held for a fixed term, has a specified date of maturity and offer assured returns. From a fixed deposit, the money can be withdrawn only after the term has ended or by giving a predetermined number of days' notice. The interest rates on FDs vary according to the tenor of a fixed deposit

Small finance banks (SFBs) offer higher interest rates on FDs as compared to the mainstream peers. For instance, on deposits below Rs 1 crore, the largest lender of the country, State Bank of India (SBI), offers 6.8 per cent interest for a tenure of one year to less than two years. Ujjivan Small Finance Bank pays 7.5 per cent on a tenor of 180 days to 364 days, Jana Small Finance Bank offers 8.5 per cent for 181-365 days and Equitas Small Finance Bank pays 7.50 per cent for a period of 271 - 364 days

Given below are interest rates offered by large commercial banks and small finance banks on fixed deposits of up to Rs 1 crore:

State Bank of India (SBI):

Given below are the latest SBI FD interest rates on deposits below Rs 1 crore as mentioned on 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 applicable on deposits below Rs 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:

Period< 1 Crore
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 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%

 

Ujjivan Small Finance Bank

These are the FD interest rates paid by the bank on fixed deposits below Rs 1 crore, according to its website-ujjivansfb.in:

TenureInterest Rate (pa) (Under Rs. 1 Crore)
7 Days to 29 Days5.50%
30 Days to 89 Days6.25%
90 Days to 179 Days6.75%
180 Days to 364 Days7.50%
1 Year to 2 Years8.30%
2 Years and 1 Day to 734 Days7.50%
735 Days8.25%
736 Days to 798 Days7.50%
799 Days8.60%
800 Days to 3 Years7.50%
3 Years and 1 Day to 5 Years7.00%
5 Years and 1 Day to 10 Years6.50%
Additional Interest Rate for Senior Citizens0.50%

Jana Small Finance Bank

These are the FD interest rates paid by the bank on fixed deposits below Rs 1 crore, according to its website - janabank.com:

PeriodInterest Rate (p.a)Interest Rate (p.a)Interest Rate (p.a)
Fixed Deposit Plus with No Premature WithdrawalRegular Fixed DepositSenior Citizen Fixed Deposit
Applicable on deposit of >15 lakhsApplicable on deposit < 1 croreApplicable on deposit of < 1 crore
7-45 days6.00%6.00%6.60%
46-60 days6.50%6.50%7.10%
61-180 days7.25%7.00%7.60%
181-365 days8.75%8.50%9.10%
More than 1 year and up to 2 years 9.00%8.50%9.10%
More than 2 years to less than 3 years9.00%8.50%9.10%
3 years9.25%9.00%9.60%
More than 3 years and up to 5 years8.50%8.50%9.10%
More than 5 years and up to 10 years7.00%7.00%7.60%

Equitas Small Finance Bank

These are the FD interest rates paid by the bank on fixed deposits below Rs 1 crore, according to its website- equitasbank.com:

Maturity period (term)Interest rate with effect from November 1, 2018
7 - 14 days 5.00%
15 - 29 days 5.50%
30 - 45 days 6.00%
46 - 62 days 6.25%
63 - 90 days 6.25%
91 - 120 days 6.50%
121 - 180 days 6.50%
181 - 210 days 6.75%
211 - 270 days 6.75%
271 - 364 days 7.50%
1 year to 18 months 8.50%
18 months 1 day to 2 years 8.75%
2 years 1 day to 3 years 8.80%
3 years 1 day to 4 years 7.00%
4 years 1 day to 5 years 7.00%
5 years 1 day to 10 years 7.00%
(Source: equitasbank.com)

 

Suryoday Bank

These are the FD interest rates paid by the bank on fixed deposits below Rs 1 crore, according to its website- suryodaybank.com

Maturity period (term)Interest rate with effect from September 29, 2018
 GeneralSenior citizen
7 days to 14 days4.00%4.50%
15 days to 45 days4.00%4.50%
46 days to 90 days5.00%5.50%
91 days to 180 days5.50%6.00%
181 days to 240 days7.50%8.00%
241 days to less than 1 Year7.75%8.25%
1 Year to 2 Years8.50%9.00%
Above 2 Years to 3 Years8.75%9.25%
950 Days*9.00%9.50%
Above 3 Years to less than 5 Years8.00%8.50%
5 Years8.25%8.75%
Above 5 Years to 10 Years7.25%7.75%
Source: suryodaybank.com)

Post offices, meanwhile, offer FD interest rates between 6.9-7.8 per cent.

NDTV Beeps - your daily newsletter

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

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

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

Top