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Fixed Deposit Interest Rates Paid By Key Lenders Compared

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 Paid By Key Lenders Compared

One can deposit money in fixed deposits for a specific period, ranging from seven days to 10 years.


Union Bank of India revised its fixed deposit interest rates with effect from February 27, 2019 according to the bank's website - unionbankofindia.co.in. A fixed deposit (FDs) is a secure financial instrument offered by banks, which fetch 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 seven days to 10 years. Recently, PNB (Punjab National Bank) also revised its FD interest rates.

Union Bank

The following FD interest rates are applicable on deposits below Rs. 2 crore from February 27, 2019 according to the bank's website - unionbankofindia.co.in:

Tenure< Rs. 2 Cr
7 days – 14 days5%
15 days – 30 days5%
31 days – 45 days5%
46 days – 90 days5.50%
91 days - 120 days6.25%
121 days to - 179 days6.25%
180 days6.50%
181 days to <10 Months6.50%
10 Months to 14 Months6.75%
>14 Months to 3 Years6.60%
>3 years - 5 Years6.70%
>5 years - 10 Years6.70%

 

State Bank of India

Given below are the latest SBI FD interest rates on deposits below Rs. 2 crore:

TenorsRevised For Public w.e.f. 22.02.2019Revised for Senior Citizens w.e.f. 22.02.2019
7 days to 45 days5.75%6.25%
46 days to 179 days6.25%6.75%
180 days to 210 days6.35%6.85%
211 days to less than 1 year6.4%6.9%
1 year to less than 2 year6.8%7.3%
2 years to less than 3 years6.8%7.3%
3 years to less than 5 years6.8%7.3%
5 years and up to 10 years6.85%7.35%
(Source: sbi.co.in)

 

Punjab National Bank

The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from March 1, 2019:

PeriodGeneral public (% p.a.)Senior citizen (% p.a.)
7 to 14 days5.756.25
15 to 29 days5.756.25
30 to 45 days5.756.25
46 to 90 days6.356.85
91 to 179 days6.356.85
111 days6.57
180 days to 270 Days6.356.85
222 days6.67.1
271 days to less than 1 year6.356.85
333 days7.17.6
1 year6.757.25
555 days6.857.35
above 1 year & up to 3 years6.757.25
above 3 year & up to 5 years6.256.75
above 5 years & up to 10 years6.256.75

 

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 days4%4.5%
15 days to 29 days4.25%4.75%
30 days to 45 days5.5%6%
46 days to 60 days6%6.5%
61 days to 90 days6.25%6.75%
91 days to 120 days6.25%6.75%
121 days to 184 days6.25%6.75%
185 days to 289 days6.5%7%
290 days to less than 1 year6.75%7.25%
1 year to 389 days6.9%7.4%
390 days to 2 years7.1%7.6%
2 years 1 day up to 3 years7.5%8%
3 years 1 day up to 5 years7.25%7.75%
5 years 1 day up to 10 years7%7.5%
5 years Tax saver FD (max up to Rs. 1.50 lakh)7.25%7.75%
(Source: icicibank.com)

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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