Fixed deposit interest rates are subject to change from time to time.Fixed deposits (FDs) are secure financial instruments offered by commercial banks, small finance banks, non-banking financial companies (NBFCs) and post offices, 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.
Fixed deposit interest rates are subject to change from time to time.
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, 1961.Here's a comparison of the latest interest rates paid by SBI, Canara Bank, HDFC Bank and ICICI Bank on FDs up to Rs.
1 crore:State Bank of India (SBI):Given below are the latest SBI FD interest rates on deposits below Rs1 crore:TenorsRevised For Public w.e.f.
28.11.2018Revised for Senior Citizens w.e.f.
28.11.20187 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 year6.87.32 years to less than 3 years6.87.33 years to less than 5 years6.87.35 years and up to 10 years6.857.35Source: sbi.co.inCanara BankThe following FD interest rates are applicable on deposits below Rs 1 crore, according to Canara bank's website - canarabank.com:DomesticRate of Interest (%) p.a.For Deposits less than Rs.1 Crore w.e.f.
01.11.2018Term Deposits (All Maturities)General PublicSenior CitizenRate of Interest (% p.a)Rate of Interest (% p.a)7 days to 14 days5.756.2515 days to 30 days5.756.2531 days to 45 days5.756.2546 days to 60 days6.256.7561 days to 90 days6.256.7591 days to 120 days6.256.75121 days to 179 days6.256.75180 days to 269 days6.356.85270 days to less than 1 year6.46.91 year only7.07.5Above 1 year to less than 2 years77.52 years above to less than 3 years6.77.23 years above to less than 5 years6.26.75 years above to less than 8 years6.26.78 years above to 10 years6.26.7444 Days (Canara Shikhar Deposit)7.057.55555 Days (Canara Shikhar Deposit)7.107.60HDFC Bank:The following FD interest rates are applicable on deposits below Rs 1 crore from November 6, 2018:ICICI Bank:The following FD interest rates are applicable on deposits below Rs 1 crore:Tenure PeriodRate of Interest (% p.a.) w.e.f November 15, 2018GeneralSenior 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 upto 3 years7.583 years 1 day upto 5 years7.257.755 years 1 day upto 10 years77.55 Years Tax saver FD(Max upto Rs.
1.50 lac)7.257.75Source: icicibank.com