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Fixed Deposit Interest Rates Offered By Banks, Corporates

The interest rates offered on company fixed deposits are higher than those on bank fixed deposits.

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Fixed Deposit Interest Rates Offered By Banks, Corporates

The risks involved in corporate fixed deposits are much higher than in bank FDs, financial analysts say


Fixed deposits or FDs are secure financial instruments offered by banks and non-banking financial companies (NBFCs), which fetch guaranteed returns. The interest rates offered on company fixed deposits are higher than those on bank fixed deposits. However, the risks involved in corporate fixed deposits are much higher than in bank FDs, financial analysts say. While returns on bank FDs are assured, the interest rates on corporate fixed deposits depend on the profits posted by the companies. Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank and non-banking finance companies such as Bajaj Finserv and Mahindra Finance, among others offer the facility of opening a fixed deposit (FD). 

Given below are the latest interest rates offered by key banks and non-banking finance companies on fixed deposits:

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)

 

Bajaj Finserv

The FD interest rates according to Bajaj Finserv's website - bajajfinserv.in:

Tenor in MonthsMinimum deposit (in Rs.)CumulativeNon-Cumulative
MonthlyQuarterlyHalf-yearlyYearly
12 – 2325,0008.00%7.72%7.77%7.85%8.00%
24 – 358.15%7.88%7.93%8.00%8.15%
36 – 608.75%8.42%8.48%8.57%8.75%
Special tenors scheme
15 Months1,00,0008.05%7.77%7.82%7.89%8.05%

 

Mahindra Finance

The following FD interest rates are applicable for online investors, according to Mahindra Finance's website - mahindrafinance.com

 

Dhanvruddhi Non-Cumulative Scheme*
Period(Months)Interest p.a.(Yearly)Interest p.a.(Monthly)
158.30%7.75%
208.35%8.00%
278.60%8.10%
339.00%8.50%
409.00%8.50%
Minimum Amount50,000 plus50000 plus

Dhanvruddhi Cumulative Scheme*
Minimum Amount (Rs).TenureAmount Payable(Rs.)Interestp.a**EffectiveYield p.a*
Rs.5,000â€1555278.30%8.43%
2057208.35%8.63%
2760248.60%9.10%
3363429.00%9.76%
4066699.00%10.01%

Fixed deposits or FDs are also offered by post offices. Post office time deposit (TD) or 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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