INSUBCONTINENT EXCLUSIVE:
Fixed deposit interest rates vary across banks according to the tenor of a fixed deposit.Fixed deposits or FDs are fixed-income instruments
which guarantee a fixed rate of return on investments
The funds in these accounts have a specified date of maturity
Under this scheme, investor deposits his or her funds for a specified period of time and cannot withdraw the funds until the end of the time
period, or at least not without facing an early withdrawal penalty
Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, Yes Bank, among others offer the facility of opening a fixed
Most banks offer fixed deposits starting from seven days up to a tenor of 10 years
Fixed deposit interest rates are subject to change from time to time
The interest income earned on bank fixed deposits is fully taxable
If the interest amount exceeds Rs 10,000, the bank would deduct tax at source (TDS) at the rate of 10 per cent per annum
However, fixed deposits with a maturity period of five years or 10 years offer income tax benefits under Section 80 C of the Income Tax Act,
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
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%Yes BankThe following FD interest rates are applicable on deposits below Rs 1 crore with effect from October 17, 2018,
according to the bank's website- yesbank.in:RESIDENT FIXED DEPOSIT INTEREST RATES (% p.a)**PeriodRates for < 1 Crore w.e.f 17th October
2018RegularSenior Citizen***Interest RatesInterest Rates7 to 45 days5.00%5.50%46 to 90 days7.00%7.50%3 months to < 6 months6.90%7.40%6
months to < 9 months7.10%7.60%9 months to < 1 Year7.00%7.50%1 Years to
