The interest rates on FDs vary according to separate maturity baskets across different banks.Fixed deposit (FD) is a financial instrument provided by banks, non-banking financial companies (NBFCs) and post offices.In case of a bank fixed deposit, the annual returns on FDs do not change according to geopolitical and macroeconomic uncertainties.
However, the interest rates on FDs vary according to separate maturity baskets across different banks.
Consider this- on deposits of Rs 1 crore for one year, SBI pays an FD interest rate of 6.8 per cent.
Private sector peers HDFC Bank andICICI Bank pay 7.3per cent and 6.9 per centrespectively, on the same amount and maturity.(Investment In Five-Year Tax-Saving Fixed Deposit Can Fetch These Returns)State Bank of India (SBI)The following FD interest rates are applicable on deposits below Rs1 crore, according to the bank's website - sbi.co.in:TenorsRevised For Public w.e.f.
28.11.2018Revised for Senior Citizens w.e.f.
28.11.20187 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 below Rs.
1 crore with effect from November 6, 2018 according to the bank's website - hdfcbank.com:PeriodInterest rate onFD less thanRs.1 CroreGeneral publicSenior citizen7 - 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 Years15 days7.40%7.90%2 Years16 days7.40%7.90%2 years17 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%(Source: hdfcbank.com)ICICI BankThe following FD interest rates are applicable ondeposits below Rs.
1 crore, according to the bank's website - icicibank.com:Rate of Interest (% p.a.) w.e.f November 15, 2018Tenure PeriodGeneralSenior Citizen7 days to 14 days4%4.5%15 days to 29 days4.25%4.75%30 days to 45 days5.5%6%46 days to 60 days6%6.5%61 days to 90 days6.25%6.75%91 days to 120 days6.25%6.75%121 days to 184 days6.25%6.75%185 days to 289 days6.5%7%290 days to less than 1 year6.75%7.25%1 year to 389 days6.9%7.4%390 days to 2 years7.1%7.6%2 years 1 day up to 3 years7.5%8%3 years 1 day up to 5 years7.25%7.75%5 years 1 day up to 10 years7%7.5%5 years Tax saver FD (max up to Rs.
1.50 lakh)7.25%7.75%(Source: icicibank.com)Indian Overseas Bank:Given below are the Indian Overseas Bank FD interest rates on deposits below Rs1 crore as mentioned on bank's website-iob.in:Period of DepositNew Rate (%) effective from 05-04-2018Up to less than Rs 1 Cr (General public)7-14 days*4.50%15-29 days4.50%30-45 Days4.50%46 -60 Days4.60%61-90 days4.60%91-120 days5.25%121-179 days5.50%180 -269 days5.75%270 days - < 1 year6.25%1 yr - <2 yrs6.60%2 yrs to < 3yrs6.75%3 Yrs and above6.80%Additional interest rate of 0.50 per cent is available for deposits of senior citizens for all tenors, noted Indian Overseas Bank on it's website.