Fixed deposit interest rates are subject to change from time to time.A fixed deposit (FDs) is a secure financial instrument offered by banks, 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.
Private sector lenders HDFC Bank, ICICI Bank revised their fixed deposit interest rates with effect from March 7, 2019.Here's a comparison of fixed deposit (FD) interest rates paid by SBI, PNB, IndusInd Bank, HDFC Bank and ICICI Bank:State Bank of IndiaGiven below are the latest SBI FD interest rates on deposits below Rs.
2 crore: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)Punjab National BankThe following FD interest rates are applicable on deposits below Rs.
2 crore with effect from March 1, 2019:PeriodGeneral public (% p.a.)Senior citizen(% p.a.)7 to 14 days5.756.2515 to 29 days5.756.2530 to 45 days5.756.2546 to 90 days6.356.8591 to 179 days6.356.85111 days6.57180 days to 270 Days6.356.85222 days6.67.1271 days to less than 1 year6.356.85333 days7.17.61 year6.757.25555 days6.857.35above 1 year up to 3 years6.757.25above 3 year up to 5 years6.256.75above 5 years up to 10 years6.256.75IndusInd BankThe following FD interest rates are applicable on deposits below Rs.
2 crore:Maturity PeriodDomestic (resident) deposits/ NRO deposits <2 crore rates p.a.(%)7 days to 14 days3.7515 days to 30 days4.2531 days to 45 days5.7546 days to 60 days661 days to 90 days6.2591 days to 120 days6.5121 days to 180 days6.75181 days to 210 days7.25211 days to 269 days7.25270 days or below 1 years7.51 Years to 1 Years 2 Months8Above 1 Years 2 Months to below 2 Years82 years to below 2 years 6 Months7.52 years 6 Months to below 2 years 9 Months7.52 years 9 Months to below 3 years7.53 years to below 61 month7.561 month and above7.25Indus Tax Saver Scheme (5 years)7.5An additional interest rate of 0.50 per cent over and above the card rates is applicable for term deposits of senior citizens, according to bank's website, indusind.com.HDFC BankThe following FD interest rates are applicable on deposits below Rs.
2 crore from Macrh 7, 2019:PeriodInterest 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 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 1day - 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 1day - 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 below Rs.
2 crore:Rate of Interest (% p.a.) w.e.f 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)7.257.75The 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.