Fixed Deposit (FD) Interest Rates Revision: SBI Vs ICICI Bank Vs HDFC Bank Vs Axis Bank Vs YES Bank
Interest earned on FDs is taxed as per one's IT slab on accrual basis Bank FDs earn higher rate of return as compared to savings account Returns vary as per tenure of investments
After State Bank of India (SBI) revised its fixed deposit interest rates, private peers like ICICI Bank, HDFC Bank, Axis Bank and YES Bank have also followed suit. Bank fixed deposits are term deposits where the investor makes a lump sum investment and earns a higher rate of return in comparison to a savings account, for a specified period of time. At present, the interest rate on one-year bank FDs - generally ranges from 7.75 per cent to 8.75% per annum.
The interest earned on FDs is taxed as per one's income tax slab on accrual basis. If the interest amount exceeds Rs 10,000, the bank would deduct tax at source (TDS) at the rate of 10 per cent per annum. Investment in fixed deposits gives you an assured return. The returns are generally over and above than what is offered by a savings bank account. However, returns vary as per the tenure of investments.
Given below are interest rates on fixed deposits (FDs) offered by State Bank of India (SBI), ICICI Bank, HDFC Bank, Axis Bank and YES Bank:
Fixed deposit (FD) interest rates offered by State Bank of India (SBI)
Interest rates for retail domestic fixed deposits 'Below Rupees One Crore'
(All figures in % per annum)
| Tenors | Existing for Public w.e.f. 28.03.2018 | Revised For Public w.e.f. 28.05.2018 | Existing forSenior Citizens w.e.f. 28.03.2018 | Revised for Senior Citizens w.e.f. 28.05.2018 |
|---|---|---|---|---|
| 7 days to 45 days | 5.75 | 5.75 | 6.25 | 6.25 |
| 46 days to 179 days | 6.25 | 6.25 | 6.75 | 6.75 |
| 180 days to 210 days | 6.35 | 6.35 | 6.85 | 6.85 |
| 211 days to less than 1 year | 6.4 | 6.4 | 6.9 | 6.9 |
| 1 year to less than 2 year | 6.4 | 6.65 | 6.9 | 7.15 |
| 2 years to less than 3 years | 6.6 | 6.65 | 7.1 | 7.15 |
| 3 years to less than 5 years | 6.7 | 6.7 | 7.2 | 7.2 |
| 5 years and up to 10 years | 6.75 | 6.75 | 7.25 | 7.25 |
| Tenure Period | Rate of Interest (% p.a.) w.e.f June 07, 2018 |
|
|---|---|---|
| General | Senior Citizen* | |
| 7 days to 14 days | 4 | 4.5 |
| 15 days to 29 days | 4.25 | 4.75 |
| 30 days to 45 days | 5.5 | 6 |
| 46 days to 60 days | 5.75 | 6.25 |
| 61 days to 90 days | 6 | 6.5 |
| 91 days to 120 days | 6 | 6.5 |
| 121 days to 184 days | 6 | 6.5 |
| 185 days to 289 days | 6.25 | 6.75 |
| 290 days to less than 1 year | 6.5 | 7 |
| 1 year to 389 days | 6.6 | 7.1 |
| 390 days to 2 years | 6.75 | 7.25 |
| 2 years 1 day upto 5 years | 7 | 7.5 |
| 5 years 1 day upto 10 years | 7 | 7.5 |
| 5 Years Tax saver FD(Max upto Rs. 1.50 lac) | 7 | 7.5 |
| Period | < 1 Crore | |
|---|---|---|
| Interest Rate (per annum) |
**Senior Citizen Rates (per annum) |
|
| 7 - 14 days | 3.50% | 4.00% |
| 15 - 29 days | 4.25% | 4.75% |
| 30 - 45 days | 5.75% | 6.25% |
| 46 - 60 days | 6.25% | 6.75% |
| 61 - 90 days | 6.25% | 6.75% |
| 91 days - 6 months | 6.25% | 6.75% |
| 6 mnths 1 day- 6 mnths 3 days | 6.35% | 6.85% |
| 6 mnths 4 days | 6.35% | 6.85% |
| 6 mnths 5 days- 9 mnths | 6.40% | 6.90% |
| 9 mnths 1 day- 9 mnths 3 days | 6.40% | 6.90% |
| 9 mnths 4 days | 6.40% | 6.90% |
| 9 months 5 days - 9 months 15 days | 6.40% | 6.90% |
| 9 months 16 days | 6.40% | 6.90% |
| 9 months 17 days < 1 Year | 6.40% | 6.90% |
| 1 Year | 6.85% | 7.35% |
| 1 year 1 day - 1 year 3 days | 6.65% | 7.15% |
| 1 year 4 days | 6.65% | 7.15% |
| 1 year 5 days - 1 Year 15 Days | 6.65% | 7.15% |
| 1 Year 16 days | 6.65% | 7.15% |
| 1 year 17 days - 2 Years | 7.00% | 7.50% |
| 2 years 1day - 2 Years 15 days | 7.00% | 7.50% |
| 2 Years 16 days | 7.00% | 7.50% |
| 2 years 17 days - 3 Years | 7.00% | 7.50% |
| 3 years 1day - 5 years | 7.00% | 7.50% |
| 5 Years 1 Day - 8 Years | 6.00% | 6.50% |
| 8 Years 1 Day - 10 Years | 6.00% | 6.50% |
| PERIOD | INTEREST RATES (% P.A.) DEPOSITS BELOW RS. 1 CRORE |
|---|---|
| 7 days to 14 days | 3.50 |
| 15 days to 29 days | 3.50 |
| 30 days to 45 days | 5.50 |
| 46 days to 60 days | 6.00 |
| 61 days < 3 months | 6.00 |
| 3 months < 4 months | 6.00 |
| 4 months < 5 months | 6.00 |
| 5 months < 6 months | 6.00 |
| 6 months < 7 months | 6.25 |
| 7 months < 8 months | 6.25 |
| 8 months < 9 months | 6.25 |
| 9 months < 10 months | 6.50 |
| 10 months < 11 months | 6.50 |
| 11 months < 1 year | 6.50 |
| 1 year < 13 months | 7.10 |
| 13 months < 14 months | 7.10 |
| 14 months < 15 months | 7.00 |
| 15 months < 16 months | 7.00 |
| 16 months < 17 months | 7.00 |
| 17 months < 18 months | 7.00 |
| 18 Months < 2 years | 7.00 |
| 2 years < 30 months | 7.00 |
| 30 months < 3 years | 7.00 |
| 3 years < 5 years | 7.00 |
| 5 years to 10 years | 7.00 |
| PERIOD | INTEREST RATES (% P.A.) DEPOSITS BELOW RS. 1 CRORE |
|---|---|
| 7 days to 14 days | 3.50 |
| 15 days to 29 days | 3.50 |
| 30 days to 45 days | 5.50 |
| 46 days to 60 days | 6.00 |
| 61 days < 3 months | 6.00 |
| 3 months < 4 months | 6.00 |
| 4 months < 5 months | 6.00 |
| 5 months < 6 months | 6.00 |
| 6 months < 7 months | 6.50 |
| 7 months < 8 months | 6.50 |
| 8 months < 9 months | 6.50 |
| 9 months < 10 months | 6.75 |
| 10 months < 11 months | 6.75 |
| 11 months < 1 year | 6.75 |
| 1 year < 13 months | 7.75 |
| 13 months < 14 months | 7.75 |
| 14 months < 15 months | 7.65 |
| 15 months < 16 months | 7.65 |
| 16 months < 17 months | 7.65 |
| 17 months < 18 months | 7.65 |
| 18 Months < 2 years | 7.65 |
| 2 years < 30 months | 7.65 |
| 30 months < 3 years | 7.50 |
| 3 years < 5 years | 7.50 |
| 5 years to 10 years | 7.50 |
| RESIDENT FIXED DEPOSIT INTEREST RATES (% p.a)** | ||||
|---|---|---|---|---|
| Period | Rates for < 1 Crore w.e.f 5th June 2018 | |||
| Regular | Senior Citizen*** | |||
| Interest Rates | Annualised Yield^ | Interest Rates | Annualised Yield^ | |
| 7 to 45 days | 5.00% | 5.00% | 5.50% | 5.50% |
| 46 to 90 days | 7.00% | 7.00% | 7.50% | 7.50% |
| 3 months to < 6 months | 6.90% | 6.90% | 7.40% | 7.40% |
| 6 months to < 9 months | 6.70% | 6.76% | 7.20% | 7.26% |
| 9 months to < 1 Year | 6.70% | 6.81% | 7.20% | 7.33% |
| 1 Years to <= 10 years* | 7.10% | 7.29% | 7.60% | 7.82% |
| *Special Rates | ||||
| 12 Months 10 Days to 12 Months 20 Days | 7.40% | 7.61% | 7.90% | 8.14% |
| 18 Months 8 Days to18 Months 18 Days | 7.50% | 7.71% | 8.00% | 8.24% |
| 36 Months 10 Days to36 Months 20 Days | 7.25% | 7.45% | 7.75% | 7.98% |
