INSUBCONTINENT EXCLUSIVE:
Some fixed deposits also offer the benefit of income tax deduction.Bank fixed deposits (FDs) are fixed-income instruments with a guaranteed
rate of return on investments
Investing in a fixed deposit is secure because the returns are fixed across predetermined, specific periods of time
Some fixed deposits also offer the benefit of income tax deduction
However, bank fixed deposits which come with a premature withdrawal facility do not offer income tax deduction benefits
Fixed deposit accounts which do not offer a premature withdrawal facility offer this benefit but have a lock-in period.Top lenders like
State Bank of India (SBI), ICICI Bank and HDFC Bank offer the option of creating a fixed deposit account
28.11.2018Revised for Senior Citizens w.e.f
28.11.20187 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 year6.87.32 years to less than 3 years6.87.33 years to less than 5 years6.87.35 years and up to 10 years6.857.35(Source:
15)Increase in basis points (bps)7 days to 14 days4.00%-15 days to 29 days4.25%-30 days to 45 days5.50%-46 days to 60 days6.00%25 bps61 days
to 90 days6.25%25 bps91 days to 120 days6.25%25 bps121 days to 184 days6.25%25 bps185 days to 289 days6.50%-290 days to less than 1
1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:
