Bank fixed deposits are suitable for people with low-risk appetite.Fixed deposits are investment instruments offered by banks and companies, where you can deposit money for a higher interest rate than savings accounts.
You can deposit a lump sum of money in fixed deposits for a specific period, ranging from seven days to 10 years.
Once you deposit the money in a fixed deposit, you start earning an interest on your investment.
Money can be deposited in a fixed deposit account only once.
If you want to add more money, you need to create another fixed deposit account.Advantages of bank fixed depositsBank fixed deposits assure returns on your investment.
Bank FD interest rates do not change according to market volatilities.
However, FD interest rates vary according to different tenures.
However, corporate fixed deposits are riskier because their returns depend on the profits of the company.So bank fixed deposits are suitable for people with low-risk appetite.Key banks like SBI or State Bank of India, HDFC Bank, ICICI Bank and UCO Bank offer the facility of opening fixed deposit accounts.
On a three-year fixed deposit, SBI pays interest of 6.8 per cent, HDFC Bank 7.10 per cent, ICICI Bank 7.25 per cent and UCO Bank 6.60 per cent.Given below is a comparison of fixed deposit or FD interest rates of SBI, HDFC Bank, ICICI Bank and UCO Bank:SBI fixed deposit interest rates 2018SBI revised its interest rates on retail fixed deposits with effect from August 30, stated sbi.co.in.
The following FD interest rates are for deposits below Rs 1 crore:(All figures in % per annum)TermInterest rate for general public w.e.f.
30.07.2018Interest rate for senior citizens w.e.f.
30.07.20187 days to 45 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less than 2 year6.77.22 years to less than 3 years6.757.253 years to less than 5 years6.87.35 years and up to 10 years6.857.35HDFC fixed deposit rates 2018The following HDFC Bank FD interest rates are applicable from August 6, 2018 for deposits below Rs 1 crore, according to hdfcbank.com:Period< 1 CroreInterest 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 mnths 1 day- 6 mnths 3 days6.75%7.25%6 mnths 4 days6.75%7.25%6 mnths 5 days- 9 mnths6.75%7.25%9 mnths 1 day- 9 mnths 3 days7.00%7.50%9 mnths 4 days7.00%7.50%9 months 5 days - 9 months 15 days7.00%7.50%9 months 16 days7.00%7.50%9 months 17 days < 1 Year7.00%7.50%1 Year7.25%7.75%1 year 1 day - 1 year 3 days7.25%7.75%1 year 4 days7.25%7.75%1 year 5 days - 1 Year 15 Days7.25%7.75%1 Year 16 days7.25%7.75%1 year 17 days - 2 Years7.25%7.75%2 years 1day - 2 Years15 days7.10%7.60%2 Years16 days7.10%7.60%2 years17 days - 3 Years7.10%7.60%3 years 1day - 5 years7.10%7.60%5 Years 1 Day - 8 Years6.00%6.50%8 Years 1 Day - 10 Years6.00%6.50%ICICI Bank fixed deposit interest rates 2018 ICICI Bank fixed deposit or FD Interest rates on domestic, NRO NRE deposits (less than Rs 1 crore) from icicibank.com:Tenure PeriodRate of Interest (% p.a.) w.e.f August 14, 2018GeneralSenior Citizen*7 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 days6.57290 days to less than 1 year6.757.251 year to 389 days6.757.25390 days to 2 years77.52 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)7.257.75UCO Bank fixed deposit interest rates 2018Domestic fixed deposit interest rates for amounts less than Rs.
1 crore from ucobank.comBanks' fixed deposit interest rates re subject to change from time to time.