Latest Fixed Deposit Rates Offered By Union Bank Of India, What Others Pay
Last week, Union Bank of India revised its fixed deposit interest rates, 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, State Bank of India (SBI), the largest lender of the country, also revised its FD interest rates.
Here's a comparison of interest rates offered by Union Bank Of India, SBI, HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:
Union Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore from November 28, 2018 according to the bank's website - unionbankofindia.co.in:
Tenure | < Rs. 1 Cr |
---|---|
7 day – 14 day | 5 |
15 day – 30 day | 5 |
31 day – 45 day | 5 |
46 day – 90 day | 5.5 |
91 day- 120 day | 6.25 |
121 day to - 179 days | 6.25 |
180 days | 6.5 |
181 day to <10 Month | 6.5 |
10 Month to 14 Month | 6.75 |
>14 Month to 3 Year | 6.7 |
>3 year - 5 Year | 6.85 |
>5 year - 10 Year | 6.85 |
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. 28.11.2018 | Revised for Senior Citizens w.e.f. 28.11.2018 |
---|---|---|
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 | 6.8 | 7.3 |
2 years to less than 3 years | 6.8 | 7.3 |
3 years to less than 5 years | 6.8 | 7.3 |
5 years and up to 10 years | 6.85 | 7.35 |
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 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 | 7.10% | 7.60% |
9 months 4 days | 7.10% | 7.60% |
9 months 5 days - 9 months 15 days | 7.10% | 7.60% |
9 months 16 days | 7.10% | 7.60% |
9 months 17 days < 1 Year | 7.10% | 7.60% |
1 Year | 7.30% | 7.80% |
1 year 1 day - 1 year 3 days | 7.30% | 7.80% |
1 year 4 days | 7.30% | 7.80% |
1 year 5 days - 1 Year 15 Days | 7.30% | 7.80% |
1 Year 16 days | 7.30% | 7.80% |
1 year 17 days - 2 Years | 7.30% | 7.80% |
2 years 1 day - 2 Years 15 days | 7.40% | 7.90% |
2 Years 16 days | 7.40% | 7.90% |
2 years 17 days - 3 Years | 7.40% | 7.90% |
3 years 1 day - 5 years | 7.25% | 7.75% |
5 Years 1 Day - 8 Years | 6.50% | 7.00% |
8 Years 1 Day - 10 Years | 6.50% | 7.00% |
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 November 15, 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 | 6 | 6.5 |
61 days to 90 days | 6.25 | 6.75 |
91 days to 120 days | 6.25 | 6.75 |
121 days to 184 days | 6.25 | 6.75 |
185 days to 289 days | 6.5 | 7 |
290 days to less than 1 year | 6.75 | 7.25 |
1 year to 389 days | 6.9 | 7.4 |
390 days to 2 years | 7.1 | 7.6 |
2 years 1 day upto 3 years | 7.5 | 8 |
3 years 1 day upto 5 years | 7.25 | 7.75 |
5 years 1 day upto 10 years | 7 | 7.5 |
5 Years Tax saver FD (Max upto 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.