Your Money

Fixed deposits of small finance banks offer higher interest rates than larger peers like State Bank of India (SBI), HDFC Bank and ICICI Bank, all of which recently hiked their FD interest rates.

The interest rates on post office fixed deposits, recurring deposits and monthly income scheme or MIS range from 6.6 per cent to 7.4 per cent.

Fixed deposits or FDs offer assured rates of return. FD interest rates are fixed over a specific period of time. Thus, even in times of market volatility, FD investors can be sure of getting guaranteed returns on their investment.

With SBI's Flexi Deposit Scheme, customers get a host of facilities such as loan facility as applicable to term deposits and nomination facility.

SBI's loan against FD account: Under SBI's loan against fixed deposit (FD), customer can avail loan up to 90 per cent of his/her FD value.

SBI's Zero Balance account: Average Monthly Balance is the minimum average of deposits required by the bank customers in their savings bank accounts.

SBI offers a wide range of fixed deposit schemes that gives different interest rate and flexible tenure options.

FD interest rates: Private sector lender ICICI Bank is the latest bank to hike fixed deposit or FD interest rates. Before ICICI Bank, HDFC Bank, Punjab National Bank (PNB), Canara Bank and the largest lender of the country, State Bank of India or SBI had hiked FD interest rates.

SBI Zero Balance Account: Insta Savings Account and Digital Savings Account are two kinds of savings bank accounts, which you can open via YONO app.

State Bank of India (SBI) in association with Thomas Cook, offers 'Holidays Savings account' for holiday goers. Under this scheme, customer can save monthly amounts in the form of a recurring deposit (RD) with SBI and avail a vacation package listed under 'Holiday Savings Account' packages on Thomas Cook website, said country's largest lender on it's corporate website- sbi.co.in. The tenor for this product is fixed at 12 months and the amount is decided by Thomas Cook based on the package chosen by the customer, SBI said.

Pension scheme APY (Atal Pension Yojana) is a pension scheme administered by pension fund regulator PFRDA that accepts applications from investors between 18 and 40 years of age. The Atal pension scheme offers a fixed pension ranging from Rs 1,000 per month to Rs 5,000 per month after the investor attains the age of 60 years. Subscribing to the Atal pension scheme at an early age minimises the contribution required to reach the desired minimum monthly pension, say experts.

Private sector lender ICICI Bank revised its fixed deposit or FD interest rates across various maturities and amounts with effect from today.

The maximum tenure for SBI's multi option FD deposit account, unlike regular fixed deposit (FD) account, is 5 years.

NPS provides both online and app facilities for checking account balance and transaction statement. NPS services are available on the UMANG platform.

State Bank of India (SBI) has a plenty of schemes to choose from when it comes to picking a fixed deposit (FD).