Fixed deposits' investment return does not get affected by stock market volatility.State Bank of India (SBI), the largest lender of the country, has recently hiked its fixed deposit or FD interest rates across various maturities.
Other banks are also expected to follow suit.
Fixed deposits are fixed income instruments, the investment return on which does not get affected by stock market volatility.
FD interest rates are fixed over specific tenures.
For example, currently, a one-year fixed deposit in SBI fetches an FD interest rate of 6.70 per cent while HDFC Bank interest rates on fixed deposits of 1-year are fixed at 6.85 per cent.
On the same tenure, ICICI Bank fixed deposit fetches an interest rate of 6.60 per cent while IDFC Bank guarantees a return of 7 per cent per annum.Given below are latest FD interest rates (fixed deposit interest rates) offered by SBI, HDFC Bank, ICICI Bank and IDFC Bank, ahead of RBI policy review:Fixed deposit interest rates (FD interest rates) of SBI on deposits below Rs 1 croreThe following FD interest rates are applicable for general public on retail fixed deposits (below Rs 1 crore) with effect from Monday:(All figures in % per annum)TenorsExisting for Public w.e.f.
28.05.2018Revised For Public w.e.f.
30.07.20187 days to 45 days5.755.7546 days to 179 days6.256.25180 days to 210 days6.356.35211 days to less than 1 year6.46.41 year to less than 2 year6.656.72 years to less than 3 years6.656.753 years to less than 5 years6.76.85 years and up to 10 years6.756.85(: State Bank Of India Offers Auto Debit Facility For Making NPS Contributions, Details Here)The following FD interest rates are applicable for senior citizens on retail fixed deposits (below Rs 1 crore) with effect from 30.07.2018(All figures in % per annum)TenorsExisting for Senior Citizens w.e.f.
28.05.2018Revised for Senior Citizens w.e.f.
30.07.20187 days to 45 days6.256.2546 days to 179 days6.756.75180 days to 210 days6.856.85211 days to less than 1 year6.96.91 year to less than 2 year7.157.22 years to less than 3 years7.157.253 years to less than 5 years7.27.35 years and up to 10 years7.257.35(: Do You Have A Debit Card Three Types Of Charges That You May Have To Pay)Fixed Deposit interest rates of HDFC BankDomestic / NRO / NRE Fixed DepositsThe following fixed deposit interest rates are applicable from July 6, 2018:Rate of Interest (% p.a.) w.e.f July 6, 2018TenureInterest rate for general publicInterest rate for senior 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 days6.35%6.85%6 months 4 days6.35%6.85%6 months 5 days- 9 months6.40%6.90%9 months 1 day- 9 months 3 days6.40%6.90%9 months 4 days6.40%6.90%9 months 5 days - 9 months 15 days6.40%6.90%9 months 16 days6.40%6.90%9 months 17 days < 1 Year6.40%6.90%1 Year6.85%7.35%1 year 1 day - 1 year 3 days6.65%7.15%1 year 4 days6.65%7.15%1 year 5 days - 1 Year 15 Days6.65%7.15%1 Year 16 days6.65%7.15%1 year 17 days - 2 Years7.00%7.50%2 years 1day - 2 Years15 days7.00%7.50%2 Years16 days7.00%7.50%2 years17 days - 3 Years7.00%7.50%3 years 1day - 5 years7.00%7.50%5 Years 1 Day - 8 Years6.00%6.50%8 Years 1 Day - 10 Years6.00%6.50%(Source: hdfcbank.com)Fixed deposit interest rates of ICICI BankInterest rates on Domestic, NRO NRE deposits (Less than Rs 1 crore)Rate of Interest (% p.a.) w.e.f June 07, 2018TenureGeneral publicSenior Citizen7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days5.756.2561 days to 90 days66.591 days to 120 days66.5121 days to 184 days66.5185 days to 289 days6.256.75290 days to less than 1 year6.571 year to 389 days6.67.1390 days to 2 years6.757.252 years 1 day upto 5 years77.55 years 1 day upto 10 years77.55 Years Tax saver FD(Max upto Rs.
1.50 lac)77.5(Source: icicibank.com)IDFC BankFD interest rates for domestic, NRE NRO deposits of less than Rs 1 crore from idfcbank.com:PeriodRate of Interest (%p.a.) w.e.f July 3, 2018Less than INR 1 Crore7-14 days4.00%15 - 29 days5.00%30 - 45 days6.25%46 - 60 days6.50%61 - 90 days6.50%91 - 180 days6.75%181 - 270 days7.00%271 - 365 days7.00%366 days7.50%367 - 400 days7.50%401 - 540 days7.50%541 - 730 days7.50%731 days8.00%732 - 1095 days8.00%3 years 1 Day - 5 years8.25%5 Year 1 Day - 8 Years8.25%8 Year 1 Day - 10 Years8.25%Tax Saver Deposit (Only for Domestic Deposits)Rate of Interest (%p.a.) w.e.f July 3, 2018 Less than INR 1 Crore5 Years8.25%Post office fixed deposit interest rates 2018India Post offers FD interest rates between 6.6-7.4 per cent per annum across fixed deposits with tenures ranging from 1-5-years.Company fixed depositsCompany fixed deposits usually offer a higher rate of return than bank fixed deposits but the risk associated with company fixed deposits is also higher than bank fixed deposits.Meanwhile, the Reserve Bank of India (RBI) will release the outcome of its third bi-monthly monetary review on Wednesday.
Experts expect RBI to change its policy stance to hawkish.