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, small finance banks, non-banking financial companies 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.Here's a comparison of fixed deposit (FD) interest rates paid by SBI, Canara Bank, HDFC Bank and ICICI Bank:State Bank of IndiaThe following FD interest rates are applicable on deposits below Rs.
2 crore with effect from February 22, 2019, according to sbi.co.in:PeriodGeneral public (% p.a.)Senior citizens (% p.a.)7 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 year6.40%6.90%1 year to less than 2 year6.80%7.30%2 years to less than 3 years6.80%7.30%3 years to less than 5 years6.80%7.30%5 years and up to 10 years6.85%7.35%Canara BankThe following FD interest rates are applicable on deposits below Rs.
2 crore with effect from April 5, 2019, according to canarabank.com:PeriodGeneral public (% p.a.)Senior citizens (% p.a.)7 days to 14 days5.756.2515 days to 30 days5.756.2531 days to 45 days5.756.2546 days to 60 days66.561 days to 90 days66.591 days to 120 days66.5121 days to 179 days66.5180 days to 269 days66.5270 days to less than 1 year6.26.71 year only6.757.25Above 1 year to less than 2 years6.67.12 years above to less than 3 years6.67.13 years above to less than 5 years66.55 years above to less than 8 years66.58 years above to 10 years66.5444 Days (Canara Shikhar Deposit)6.657.15555 Days (Canara Shikhar Deposit)6.77.2HDFC BankThe following FD interest rates are applicable on deposits below Rs.
2 crore from April 11, 2019 according to hdfcbank.com:PeriodGeneral public (% p.a.)Senior citizen (% p.a.)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 1 day - 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 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%ICICI BankThe following FD interest rates are applicable on deposits below Rs.
2 crore from March 7, 2019 according to icicibank.com:PeriodGeneral public (% p.a.)Senior citizens (% p.a.)7 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 up to Rs.
1.50 lac)7.257.75However, small finance banks pay higher returns on fixed deposits compared to private and public sector banks.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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