Bank fixed deposits (FDs) are fixed income instruments which offer fixed returns for a pre-determined specific period of time.

Bank FDs are meant for people who are looking for guaranteed returns, unaffected by market uncertainties.

Offered by banks and post offices, FDs require customers to deposit a lump sum amount for a rate of interest that is higher than savings accounts.

The tenure of an FD ranges from seven days to 10 years.

FDs with lock-in periods of five or 10 years offer income tax benefits under Section 80 C of Income Tax Act, 1961.Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of Baroda (BoB) offer the option of opening a fixed deposit.Given below are FD interest rates of SBI, HDFC Bank, ICICI Bank and Bank of Baroda:State Bank of India (SBI) FD interest rates:The following FD interest rates are applicable on deposits below Rs.

1 crore:(: SBI Fixed Deposit (FD) Account: Types, Interest Rates, Tenure, Other Details)Maturity period (term)Interest rate with effect from July 30, 2018General publicSenior citizen7 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 year6.7%7.2%2 years to less than 3 years6.75%7.25%3 years to less than 5 years6.8%7.3%5 years and up to 10 years6.85%7.35%(Source: sbi.co.in) (: Kotak Mahindra Bank Revises Fixed Deposit Interest Rates) ICICI BankThe following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - icicibank.com:Maturity PeriodInterest rates (per annum)Term deposits of less than Rs 1 croreNew rates (with effect from  November 15)Increase in basis points (bps)7 days to 14 days4.00%-15 days to 29 days4.25%-30 days to 45 days5.50%-46 days to 60 days6.00%25 bps61 days to 90 days6.25%25 bps91 days to 120 days6.25%25 bps121 days to 184 days6.25%25 bps185 days to 289 days6.50%-290 days to less than 1 year6.75%-1 year to 389 days6.90%15 bps390 days upto  2 years7.10%10 bps2 years 1 day upto 3 years7.50%25 bps3 years 1 day upto 5 years7.25%-5 years 1 day upto 10 years7.00%-5 years (80C FD)7.25%- (: SBI Reinvestment Fixed Deposit Scheme: How It Works, Interest Rates, Tax Benefits, Other Details)HDFC BankThe following FD interest rates are applicable on deposits below Rs.

1 crore from November 6, 2018, according to the bank's website - hdfcbank.com: