Customers can avail fixed deposits from a minimum of seven days to 10 years.Fixed Deposits (FD), also known as term deposit (TD), is an interest-bearing account that has a specified date of maturity. The funds in these accounts are held for a fixed term, and guarantee a return of principal.

Customers can avail fixed deposits from a minimum of seven days to 10 years.

Interest payout frequencies that a customer can choose with fixed deposits are monthly, quarterly or at maturity.

Most leading banks today, from public sector State Bank of India (SBI) to private sector peers HDFC Bank and ICICI Bank, offer an interest rate ranging from 3.50 per cent to 7.90 per cent for deposits up to Rs 2 crore for different tenure, according to the information displayed on their respective websites.State Bank of India (SBI)The following FD interest rates are applicable on deposits up to Rs 2 crore, according to sbi.co.in:TenorsRevised For Public w.e.f.

22.02.2019Revised for Senior Citizens w.e.f.

22.02.20197 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)HDFC BankThe following FD interest rates are applicable on deposits up to Rs 2 crore, with effect from April 11, 2019, according to hdfcbank.com:PeriodInterest RateSenior Citizen Rates   (per annum)(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 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%ICICI BankThe following FD interest rates are applicable on deposits up to Rs 2 crore, according to bank's website- icicibank.com:Rate of Interest applicable from March 7, 2019Tenure PeriodGeneralSenior Citizen7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days66.561 days to 90 days6.256.7591 days to 120 days6.256.75121 days to 184 days6.256.75185 days to 289 days6.57290 days to less than 1 year6.757.251 year to 389 days6.97.4390 days to 2 years7.17.62 years 1 day up to 3 years7.583 years 1 day up to 5 years7.257.755 years 1 day up to 10 years77.55 Years Tax saver FD(Max upto Rs.

1.50 lac)7.257.75Kotak Mahindra BankThe following FD interest rates are applicable on deposits up to Rs 2 crore, with effect from April 11, 2019, according to bank's website- kotak.com:Maturity Periods - Premature Withdrawal AllowedLess than Rs 2 Crore (General citizens)Less than Rs 2 Crore (Senior citizens)7 - 14 Days3.50%4.00%15 - 30 Days4.00%4.50%31 - 45 Days5.00%5.50%46 - 90 Days5.50%6.00%91 - 120 Days6.25%6.75%121 - 179 days6.25%6.75%180 Days6.40%6.90%181 Days to 269 Days6.50%7.00%270 Days6.50%7.00%271 Days to 363 Days6.75%7.25%364 Days7.00%7.50%365 Days to 389 Days7.00%7.50%390 Days (12 months 25 days)7.20%7.70%391 Days - Less than 23 Months7.20%7.70%23 Months7.20%7.70%23 months 1 Day- less than 2 years7.20%7.70%2 years- less than 3 years7.10%7.60%3 years and above but less than 4 years7.00%7.50%4 years and above but less than 5 years7.00%7.50%5 years and above up to and inclusive of 10 years6.50%7.00%Small finance banks, on the other hand, pay higher interest rates on fixed deposits compared to commercial banks.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.

Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.