INSUBCONTINENT EXCLUSIVE:
Fixed deposits (FDs) can be started for specific period, which can be as short as 7 days.Fixed deposit (FD), a secure investment instrument,
offers higher interest rates than the deposits in savings accounts
Fixed deposits can be started for specific period, which can be as short as 7 days
FD interest rates of most banks are higher for senior citizens as compared to those for the general public
However, fixed deposit interest rates vary according to separate maturity baskets across different lenders
Investors can opt for a monthly, quarterly and annual interest payout
SBI Multi-Option Deposit Scheme All You Need To Know)State Bank of India (SBI)The following FD interest rates are applicable on deposits
below Rs 1 crore, according to the 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 days5.756.2546 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:
days6.25%6.75%91 days - 6 months6.25%6.75%6 months 1 day- 6 months 3 days6.75%7.25%6 months 4 days6.75%7.25%6 months 5 days- 9
months6.75%7.25%9 months 1 day- 9 months 3 days7.10%7.60%9 months 4 days7.10%7.60%9 months 5 days - 9 months 15 days7.10%7.60%9 months 16
days7.10%7.60%9 months 17 days < 1 Year7.10%7.60%1 Year7.30%7.80%1 year 1 day - 1 year 3 days7.30%7.80%1 year 4 days7.30%7.80%1 year 5 days
1 crore, according to the bank's website - icicibank.com:Rate of Interest (% p.a.) w.e.f November 15, 2018Tenure PeriodGeneralSenior
Citizen7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days66.561 days to 90 days6.256.7591 days to 120
days6.256.75121 days to 184 days6.256.75185 days to 289 days6.57290 days to less than 1 year6.757.251 year to 389 days6.97.4390 days to 2
years7.17.62 years 1 day up to 3 years7.583 years 1 day up to 5 years7.257.755 years 1 day up to 10 years77.55 years Tax saver FD (max up to
from December 20, 2018 according to the bank's website - kotak.com:Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from
20th December 2018Maturity Periods - Premature Withdrawal AllowedRegular Less than Rs 1 CroreSenior citizen Less than Rs 1 Crore7 - 14
Days3.50%4.00%15 - 30 Days4.00%4.50%31 - 45 Days5.00%5.50%46 - 90 Days5.50%6.00%91 - 120 Days6.25%6.75%121 - 179 days6.25%6.75%180
Days7.00%7.50%181 Days to 269 Days7.00%7.50%270 Days7.00%7.50%271 Days to 363 Days7.00%7.50%364 Days7.00%7.50%365 Days to 389
Days7.30%7.80%390 Days (12 months 25 days)7.40%7.90%391 Days - Less than 23 Months7.30%7.80%23 Months7.25%7.75%23 months 1 Day- less than 2
years7.25%7.75%2 years- less than 3 years7.25%7.75%3 years and above but less than 4 years7.10%7.60%4 years and above but less than 5
years7.00%7.50%5 years and above upto and inclusive of 10 years6.50%7.00%The FD accounts which have a lock-in period of five or 10 years
also offer income tax benefit under Section 80C of the Income Tax Act
The government in Interim Budget 2019-20 has proposed to increase the limit for tax deduction at source (TDS) on interest income earned on
