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Fixed Deposit Interest Rates: SBI Vs Yes Bank Vs PNB Vs HDFC Bank

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.

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Fixed Deposit Interest Rates: SBI Vs Yes Bank Vs PNB Vs HDFC Bank

Fixed deposits offer much higher interest rates than savings accounts.


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 can vary from 7 days to ten years. Fixed deposits offer much higher interest rates than savings accounts. 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), HDFC Bank, Punjab National Bank (PNB), and Yes Bank:
 

Fixed deposit (FD) rates offered by State Bank of India (Below Rs. 1 crore):

Revised from July 30, 2018:

TermInterest rate for general public w.e.f. 30.07.2018Interest rate for senior citizens w.e.f. 30.07.2018
7 days to 45 days5.756.25
46 days to 179 days6.256.75
180 days to 210 days6.356.85
211 days to less than 1 year6.46.9
1 year to less than 2 year6.77.2
2 years to less than 3 years6.757.25
3 years to less than 5 years6.87.3
5 years and up to 10 years6.857.35

.

FD interest rates offered by Yes Bank:

RESIDENT FIXED DEPOSIT INTEREST RATES (% p.a)
PeriodRates for < 1 Crore w.e.f 5th June 2018
Regular Interest RatesSenior Citizen Interest Rates
7 to 45 days5.00%5.50%
46 to 90 days7.00%7.50%
3 months to < 6 months6.90%7.40%
6 months to < 9 months6.70%7.20%
9 months to < 1 Year6.70%7.20%
1 Years to <= 10 years*7.10%7.60%
Special Rates
12 Months 10 Days to 12 Months 20 Days7.40%7.90%
18 Months 8 Days to 18 Months 18 Days7.50%8.00%
36 Months 10 Days to 36 Months 20 Days7.25%7.75%

 

Fixed deposit (FD) rates offered by Punjab National Bank (Below Rs. 1 crore):

Domestic TD Less Than Rs.1 Cr. W.e.f August 1, 2018

Sl. NoPeriodROI (% p.a.)For Senior Citizen ROI (% p.a.)
17 to 14 days5.76.2
215 to 29 days5.76.2
330 to 45 days5.76.2
446 to 90 days6.356.85
591 to 179 days6.356.85
6180 days to 270 Days6.356.85
7271 days to less than 1 year6.356.85
81 year6.757.25
9above 1 year & upto 3 years6.757.25
10above 3 year & upto 5 years6.256.75
11above 5 years & upto 10 years6.256.75

FD interest rates offered by HDFC Bank applicable from August 6, 2018 for deposits below Rs 1 crore:

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 days7.00%7.50%
9 months 4 days7.00%7.50%
9 months 5 days - 9 months 15 days7.00%7.50%
9 months 16 days7.00%7.50%
9 months 17 days < 1 Year7.00%7.50%
1 Year7.25%7.75%
1 year 1 day - 1 year 3 days7.25%7.75%
1 year 4 days7.25%7.75%
1 year 5 days - 1 Year 15 Days7.25%7.75%
1 Year 16 days7.25%7.75%
1 year 17 days - 2 Years7.25%7.75%
2 years 1 day - 2 Years 15 days7.10%7.60%
2 Years 16 days7.10%7.60%
2 years 17 days - 3 Years7.10%7.60%
3 years 1 day - 5 years7.10%7.60%
5 Years 1 Day - 8 Years6.00%6.50%
8 Years 1 Day - 10 Years6.00%6.50%

 

Fixed deposit interest is tax-free until a certain threshold, after which it is chargeable. After the interest earned exceeds Rs. 10,000, tax is deducted at source.



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