Fixed Deposit (FD) Interest Rates: SBI Vs Kotak Mahindra Bank Vs HDFC Bank Vs ICICI Bank

Fixed deposits (FDs) are secure financial instruments, which offer guaranteed returns. FD interest rates vary according to the tenure of the fixed deposit and across banks. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period. Recently, State Bank of India, country's largest lender, revised its fixed deposit interest rates. 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. Here is a comparison of fixed deposit (FD) rates offered by State Bank of India (SBI), Kotak Mahindra Bank, HDFC Bank and ICICI Bank : Fixed deposit (FD) rates offered by State Bank of India (Below Rs. 1 crore): Revised from July 30, 2018:

Fixed deposit (FD) rates offered by Kotak Mahindra Bank (Below Rs. 1 crore):

Revised interest rates for domestic / NRO / NRE fixed deposits from July 26, 2018:

Fixed deposit (FD) rates offered by HDFC Bank (Less than Rs. 1 crore):

Fixed deposit (FD) rates offered by ICICI Bank: