The interest rates on FDs vary according to the tenor of a fixed deposit.Fixed deposit (FDs), also known as term deposits, are secure investment instruments offered by private and public sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices.
The funds in these accounts are held for a fixed term, has a specified date of maturity and offer assured returns.
From a fixed deposit, the money can only be withdrawn only after the term has ended or by giving a predetermined number of days notice.
The interest rates on FDs vary according to the tenor of a fixed deposit.Country's largest lender State Bank of India (SBI) increased interest rates on fixed deposits with effect from November 28.
Private sector peers HDFC Bank and ICICI Bank last revised their FD interest rates on November 6 and November 15 respectively.
Public sector bank Canara Bank revised their FD interest rates on select maturities with effect from November 1.State Bank of India (SBI):Given below are the latest SBI FD interest rates on deposits below Rs1 crore as mentioned on bank's website-sbi.co.in:TenorsRevised For Public w.e.f.
28.11.2018Revised for Senior Citizens w.e.f.
28.11.20187 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.inHDFC BankThe following FD interest rates are applicable on deposits below Rs 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:ICICI BankThe following FD interest rates are applicable on deposits below Rs.
1 crore, according to the bank's website - icicibank.com:Tenure PeriodRate of Interest (% p.a.) w.e.f November 15, 2018GeneralSenior Citizen7 days to 14 days4%4.5%15 days to 29 days4.25%4.75%30 days to 45 days5.5%6%46 days to 60 days6%6.5%61 days to 90 days6.25%6.75%91 days to 120 days6.25%6.75%121 days to 184 days6.25%6.75%185 days to 289 days6.5%7%290 days to less than 1 year6.75%7.25%1 year to 389 days6.9%7.4%390 days to 2 years7.1%7.6%2 years 1 day upto 3 years7.5%8%3 years 1 day upto 5 years7.25%7.75%5 years 1 day upto 10 years7%7.5%5 Years Tax saver FD(Max upto Rs.
1.50 lac)7.25%7.75%Canara BankThe following FD interest rates are applicable on deposits below Rs 1 crore, according to Canara Bank's website - canarabank.com:DomesticRate of Interest (%) p.a.For Deposits less than Rs.1 Crore w.e.f.
01.11.2018Term Deposits (All Maturities)General PublicSenior CitizenRate of Interest (% p.a)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 only7.07.5Above 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)7.107.60Indian Overseas Bank:Given below are the Indian Overseas Bank FD interest rates on deposits below Rs1 crore as mentioned on bank's website-iob.in:Period of DepositNew Rate (%) effective from 05-04-2018Up to less than Rs 1 Cr (General public)7-14 days*4.50%15-29 days4.50%30-45 Days4.50%46 -60 Days4.60%61-90 days4.60%91-120 days5.25%121-179 days5.50%180 -269 days5.75%270 days - < 1 year6.25%1 yr - <2 yrs6.60%2 yrs to < 3yrs6.75%3 Yrs and above6.80%Additional interest rate of 0.50 per cent is available for deposits of senior citizens for all tenors, noted Indian Overseas Bank on it's website.For the latest News Live Updates on Election Results from each assembly constituency in Madhya Pradesh, Rajasthan, Mizoram, Chhattisgarh, Telangana, like us on Facebook or follow us on Twitter for updates.