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Fixed Deposit Interest Rates Of Public, Private Banks Compared Here

Fixed Deposit (FD) interest rate: Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax.

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Fixed Deposit Interest Rates Of Public, Private Banks Compared Here

Fixed Deposit (FD) interest rate: Fixed deposit interest rates are subject to change from time to time.


State-run Bank of Baroda revised its fixed deposit interest rates with effect from Monday. Fixed deposits or FDs are secure financial instruments offered by public, private sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns. In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts. Fixed deposit interest rates are subject to change from time to time. One can deposit a money in fixed deposits for a specific period, ranging from seven days to 10 years. 

Here's a comparison of interest rates offered by Bank Of Baroda, SBI, HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:

Bank of Baroda

Given below are the latest SBI FD interest rates on deposits below Rs. 1 crore:

TenorsBelow Rs 1 crore (w.e.f. 14.01.19)
7 days to 14 days4.5
15 days to 45 days4.75
46 days to 90 days5
91 days to 180 days5.75
181 days to 270 days6.5
271 days & above and less than 1 year6.5
1 year6.7
Above 1 year to 400 days6.85
Above 400 days and up to 2 Years6.8
Above 2 Years and up to 3 Years6.7
Above 3 Years and up to 5 Years6.7
Above 5 Years and up to 10 Years6.7
444 days (Only for Baroda Samriddhi Deposit Scheme)7

Branches may continue to pay an additional interest of 0.50 per cent on domestic term deposits of less than Rs. 1.00 crore for senior citizens for all tenors in terms of extant guidelines, said the bank on its website - bankofbaroda.com.

 

State Bank of India

Given below are the latest SBI FD interest rates on deposits below Rs. 1 crore:

TenorsRevised For Public w.e.f. 28.11.2018Revised for Senior Citizens w.e.f. 28.11.2018
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 year6.87.3
2 years to less than 3 years6.87.3
3 years to less than 5 years6.87.3
5 years and up to 10 years6.857.35
(Source: sbi.co.in)

 

HDFC Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018:

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:

Rate of Interest (% p.a.) w.e.f November 15, 2018
Tenure PeriodGeneralSenior Citizen
7 days to 14 days44.5
15 days to 29 days4.254.75
30 days to 45 days5.56
46 days to 60 days66.5
61 days to 90 days6.256.75
91 days to 120 days6.256.75
121 days to 184 days6.256.75
185 days to 289 days6.57
290 days to less than 1 year6.757.25
1 year to 389 days6.97.4
390 days to 2 years7.17.6
2 years 1 day up to 3 years7.58
3 years 1 day up to 5 years7.257.75
5 years 1 day up to 10 years77.5
5 years Tax saver FD (max up to Rs. 1.50 lakh)7.257.75
(Source: icicibank.com)

Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.



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