What SBI, HDFC Bank, ICICI Bank, IDBI Bank Pay On Fixed Deposits

Fixed deposits (FDs), which offer guaranteed returns on investments, are meant for investors looking for assured interests.

What SBI, HDFC Bank, ICICI Bank, IDBI Bank Pay On Fixed Deposits

Annual returns on fixed deposits are fixed even amid market fluctuations and geopolitical uncertainties.

Fixed deposits (FDs), which offer guaranteed returns on investments, are meant for investors looking for assured interests. FDs are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. The annual returns on fixed deposit investments are fixed even amid market fluctuations and geopolitical uncertainties. Fixed deposits are of two types: with premature withdrawal facility and without premature without facility. The fixed deposits which offer premature withdrawal facility do not offer income tax benefits. However, FDs without a premature withdrawal facility require a lock-in period of five or 10 years and offer income tax benefits.

Major banks offer the facility of opening a fixed deposit account.

Given below are FD interest rates offered by State Bank of India (SBI), HDFC Bank, ICICI Bank and IDBI Bank:

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:
 

Maturity period (term)Interest rate with effect from July 30, 2018
General publicSenior citizen
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
(Source: sbi.co.in)

 

(Also Read: 10 Things You Should Follow While Making An Online Transaction)

HDFC Bank:

The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:

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 mnths 1 day- 6 mnths 3 days6.75%7.25%
6 mnths 4 days6.75%7.25%
6 mnths 5 days- 9 mnths6.75%7.25%
9 mnths 1 day- 9 mnths 3 days7.10%7.60%
9 mnths 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 1day - 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 1day - 5 years7.25%7.75%
5 Years 1 Day - 8 Years6.50%7.00%
8 Years 1 Day - 10 Years6.50%7.00%

 

(Also Read: PNB Revises Fixed Deposit Interest Rates)

ICICI Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore:

Maturity period (term)Interest rate with effect from August 14, 2018
General publicSenior citizen
7 days to 14 days44.5
15 days to 29 days4.254.75
30 days to 45 days5.56
46 days to 60 days5.756.25
61 days to 90 days66.5
91 days to 120 days66.5
121 days to 184 days66.5
185 days to 289 days6.57
290 days to less than 1 year6.757.25
1 year to 389 days6.757.25
390 days to 2 years77.5
2 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 lac)7.257.75
(Source: icicibank.com)

 

(Also Read: Fixed Deposit Interest Rates Offered By Corporates)

IDBI Bank

The following FD interest rates on deposits below Rs 1 crore are with effect from October 15, 2018:

Maturity SlabInterest Rate (% p.a.)
Regular citizensSenior citizens
15-30days5.756.25
31-45 days5.756.25
46-60 days6.256.75
61-90 days6.256.75
91-6 months6.256.75
6 months 1 day to 270 days6.57
271 days to < 1year6.57
1 year77.5
>1yrs to  2yrs7.057.55
>2 yrs to < 3 yrs7.057.55
3 yrs to < 5 yrs6.857.35
5 years6.857.35
> 5yrs - 7yrs6.256.75
>7 yrs - 10 yrs6.256.75
>10 yrs - 20 yrs*66.5
Source: idbi.com

 

India Post fixed deposits offer annual rates of return between 6.9-7.8 per cent.

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