Fixed deposit interest rates are also higher than those offered by savings accounts.Fixed deposits or FDs are secure financial instruments, which offer guaranteed returns.
FD interest rates vary according to the tenure of the fixed deposit and across banks.
In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years.
Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period.
Fixed deposit interest rates are also higher than those offered by savings accounts.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.State Bank of India (SBI)The 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 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.406.901 year to less than 2 year6.807.302 years to less than 3 years6.807.303 years to less than 5 years6.807.305 years and up to 10 years6.857.35HDFC 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 days3.504.0015 - 29 days4.254.7530 - 45 days5.756.2546 - 60 days6.256.7561 - 90 days6.256.7591 days - 6 months6.256.756 months 1 day- 6 months 3 days6.757.256 months 4 days6.757.256 months 5 days - 9 months6.757.259 months 1 day- 9 months 3 days7.107.609 months 4 days7.107.609 months 5 days - 9 months 15 days7.107.609 months 16 days7.107.609 months 17 days < 1 Year7.107.601 Year7.307.801 year 1 day - 1 year 3 days7.307.801 year 4 days7.307.801 year 5 days - 1 Year 15 Days7.307.801 Year 16 days7.307.801 year 17 days - 2 Years7.307.802 years 1 day - 2 Years 15 days7.407.902 Years 16 days7.407.902 years 17 days - 3 Years7.407.903 years 1 day - 5 years7.257.755 Years 1 Day - 8 Years6.507.008 Years 1 Day - 10 Years6.507.00ICICI 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)7.257.75Punjab National Bank (PNB)The following FD interest rates are applicable on deposits below Rs 2 crore from March 1, 2019, according to pnbindia.in: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 years6.256.75Fixed deposits are also offered by small finance banks, non-banking finance companies and post offices.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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