Here Are Fixed Deposit Rates Offered By Banks On Deposits Below 1 Crore Rupees
Fixed deposits (FDs) are secure investment instruments offered by banks, non-banking financial companies, post office, which offer guaranteed returns. In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts. One can deposit a lump sum of money in fixed deposits for a specific period, ranging from 7 days to 10 years. Lenders also pay slightly higher interest rates on fixed deposits to senior citizens, compared to those applicable to the general public. Banks keep on revising their FD interest rates from time to time.
Given below is a comparison of FD interest rates offered by SBI, UCO Bank, HDFC Bank and ICICI Bank on deposits below Rs. 1 crore:
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:
| Tenors | Revised For Public w.e.f. 30.07.2018 | Revised for Senior Citizens w.e.f. 30.07.2018 |
|---|---|---|
| 7 days to 45 days | 5.75 | 6.25 |
| 46 days to 179 days | 6.25 | 6.75 |
| 180 days to 210 days | 6.35 | 6.85 |
| 211 days to less than 1 year | 6.4 | 6.9 |
| 1 year to less than 2 year | 6.7 | 7.2 |
| 2 years to less than 3 years | 6.75 | 7.25 |
| 3 years to less than 5 years | 6.8 | 7.3 |
| 5 years and up to 10 years | 6.85 | 7.35 |
UCO Bank
The following FD interest rates are for deposits below Rs 1 crore with effect from September 10, according to the bank's website - ucobank.com:
| Time Period | Revised Rate w.e.f 10.09.2018 |
|---|---|
| 7 - 14 Days | 4.50% |
| 15 - 29 Days | 4.50% |
| 30 - 45 Days | 5.00% |
| 46 - 60 Days | 5.50% |
| 61 - 90 Days | 5.50% |
| 91 - 120 Days | 6.00% |
| 121 - 150 Days | 6.00% |
| 151-180 Days | 6.00% |
| 181 to 364 days | 6.35% |
| 1 year | 6.70% |
| More than 1 year upto 2 Years | 6.75% |
| Above 2 Years upto 3 Years | 6.75% |
| Above 3 Years and less than 5 Years | 6.75% |
| 5 years and above | 6.75% |
HDFC Bank
The following FD interest rates are for deposits below Rs 1 crore with effect from October 6, according to the bank's website - hdfcbank.com:
| 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 months 1 day- 6 months 3 days | 6.75% | 7.25% |
| 6 months 4 days | 6.75% | 7.25% |
| 6 months 5 days- 9 months | 6.75% | 7.25% |
| 9 months 1 day- 9 months 3 days | 7.00% | 7.50% |
| 9 months 4 days | 7.00% | 7.50% |
| 9 months 5 days - 9 months 15 days | 7.00% | 7.50% |
| 9 months 16 days | 7.00% | 7.50% |
| 9 months 17 days < 1 Year | 7.00% | 7.50% |
| 1 Year | 7.25% | 7.75% |
| 1 year 1 day - 1 year 3 days | 7.25% | 7.75% |
| 1 year 4 days | 7.25% | 7.75% |
| 1 year 5 days - 1 Year 15 Days | 7.25% | 7.75% |
| 1 Year 16 days | 7.25% | 7.75% |
| 1 year 17 days - 2 Years | 7.25% | 7.75% |
| 2 years 1 day - 2 Years 15 days | 7.10% | 7.60% |
| 2 Years 16 days | 7.10% | 7.60% |
| 2 years 17 days - 3 Years | 7.10% | 7.60% |
| 3 years 1 day - 5 years | 7.10% | 7.60% |
| 5 Years 1 Day - 8 Years | 6.00% | 6.50% |
| 8 Years 1 Day - 10 Years | 6.00% | 6.50% |
ICICI Bank
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - icicibank.com:
| Tenure Period | Rate of Interest (% p.a.) w.e.f August 14, 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 | 6.5 | 7 |
| 290 days to less than 1 year | 6.75 | 7.25 |
| 1 year to 389 days | 6.75 | 7.25 |
| 390 days to 2 years | 7 | 7.5 |
| 2 years 1 day up to 5 years | 7.25 | 7.75 |
| 5 years 1 day up to 10 years | 7 | 7.5 |
| 5 Years Tax saver FD (Max up to Rs. 1.50 lac) | 7.25 | 7.75 |
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.