You can earn high interest rates on fixed deposits (FD) by opting for cumulative interest.Banks are the biggest issuers of fixed deposits in India.
Fixed deposits (FD) of leading banks not only help you save money but also grow your wealth.
Money in fixed deposit accounts offer attractive interest rates until fixed tenures.
The interest payout options offer the customer of fixed deposits to either choose regular cash flows or earn high interest rates by opting for cumulative interest where the interest is compounded quarterly, providing even better returns.
If you have a lump sum surplus available for investment with a requirement of these funds at a specified date, you may choose to put it into a fixed deposit.Given below are fixed deposit (FD) interest rates of State Bank of India (SBI), HDFC Bank, ICICI Bank, Bank of Baroda (BoB) and Federal Bank:Fixed deposit interest rates of State Bank of India (SBI) (Below Rs 1 crore)TenorsRevised For Public w.e.f.
28.05.2018Revised for Senior Citizens w.e.f.
28.05.20187 days to 45 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less than 2 year6.657.152 years to less than 3 years6.657.153 years to less than 5 years6.77.25 years and up to 10 years6.757.25Fixed deposit interest rates of HDFC BankDomestic / NRO / NRE Fixed DepositsPeriod< 1 CroreInterest 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 days6.35%6.85%6 mnths 4 days6.35%6.85%6 mnths 5 days- 9 mnths6.40%6.90%9 mnths 1 day- 9 mnths 3 days6.40%6.90%9 mnths 4 days6.40%6.90%9 months 5 days - 9 months 15 days6.40%6.90%9 months 16 days6.40%6.90%9 months 17 days < 1 Year6.40%6.90%1 Year6.85%7.35%1 year 1 day - 1 year 3 days6.65%7.15%1 year 4 days6.65%7.15%1 year 5 days - 1 Year 15 Days6.65%7.15%1 Year 16 days6.65%7.15%1 year 17 days - 2 Years7.00%7.50%2 years 1day - 2 Years15 days7.00%7.50%2 Years16 days7.00%7.50%2 years17 days - 3 Years7.00%7.50%3 years 1day - 5 years7.00%7.50%5 Years 1 Day - 8 Years6.00%6.50%8 Years 1 Day - 10 Years6.00%6.50%Fixed deposit interest rates of ICICI BankInterest rates on Domestic, NRO NRE deposits(Less than Rs 1 crore)Tenure PeriodRate of Interest (% p.a.) w.e.fJune07, 2018GeneralSenior Citizen*7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days5.756.2561 days to 90 days66.591 days to 120 days66.5121 days to 184 days66.5185 days to 289 days6.256.75290 days to less than 1 year6.571 year to 389 days6.67.1390 days to 2 years6.757.252 years 1 day upto 5 years77.55 years 1 day upto 10 years77.55 Years Tax saver FD(Max upto Rs.
1.50 lac)77.5Fixed deposit interest rates of Bank of Baroda (BoB)For Domestic NRO fixed deposits [Per Annum] [Fresh Renewal] [Callable] (ROI in %)- Below Rs.
One CroreTenorsBelow Rs 1 Cr.
(w.e.f.
14.06.18)7 days to 14 days4.2515 days to 45 days4.7546 days to 90 days591 days to 180 days5.5181 days to 270 days6.25271 days above and less than 1 year6.351 year6.6Above 1 year to 400 days6.7Above 400 days and upto 2 Years6.7Above 2 Years and upto 3 Years6.6Above 3 Years and upto 5 Years6.7Above 5 Years and upto 10 Years6.6Fixed deposit interest rates of Federal BankInterest rates for Resident Fixed Deposits effective from 14-6-2018PeriodLess than Rs.100 Lakhs7 days to 14 days3.50%15 days to 29 days4.50%30 days to 60 days5.00%61 days to 90 days5.70%91 days to 119 days6.00%120 days to less than 1 year6.50%1 year6.85%Above 1 year to 15 Months7.30%Above 15 months7.00%Post offices also offer fixed deposits.Recurring deposit and savings bank accounts are also offered by all banks.Small finance banks, in fact, offer higher interest rates on fixed deposits, recurring deposits and savings bank accounts.