Fixed deposit interest rates are higher than those offered by savings accounts.A fixed deposit (FD) is a financial instrument that offers a fixed income on deposit of money.
This cash deposit is for a specific maturity period - ranging from few days to few years - also known as term of the fixed deposit.Fixed deposit interest rates arehigher than those offered by savings accounts.
Some fixed deposit accounts come with the facility of premature withdrawal while some have a compulsory lock-in period.On a fixed deposit under Rs 2 crore for a period of one-year, SBI offers an interest of 6.8per cent, HDFC Bank of 7.3per cent andICICI Bank of 6.9 per cent to general public.State Bank of IndiaGiven below are the latest SBI FD interest rates on deposits below Rs2 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)HDFC BankThe following FD interest rates are applicable on deposits below Rs2 crore from March 7, 2019 according to hdfcbank.com: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 Rs2 crore according to icicibank.com:Rate of Interest applicable from 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)7.257.75Canara BankGiven below are the latest FD interest rates according tocanarabank.com:DomesticRate of Interest (%) p.a.
For deposits less than Rs 2 crore from March 12, 2019Term Deposits (All Maturities)General Public Rate of Interest (% p.a)Senior Citizen 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 only77.5Above 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)7.17.6Yes BankGiven below are the latest Yes Bank FD interest rates according to yesbank.in:PeriodRates for < 2 Crore w.e.f March 5, 2019RegularSenior CitizenInterest RatesInterest Rates7 to 45 days5.00%5.50%46 to 90 days6.25%6.75%3 months to < 6 months6.50%7.00%6 months to < 9 months6.85%7.35%9 months to < 1 Year7.15%7.65%1 Years to <= 10 years*7.25%7.75%12 Months 10 Days to 12 Months 20 Days7.50%8.00%18 Months 8 Days to 18 Months 18 Days7.85%8.35%36 Months 10 Days to 36 Months 20 Days7.50%8.00%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.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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