INSUBCONTINENT EXCLUSIVE:
Most banks offer fixed deposits starting from seven days up to a tenor of 10 years.A fixed deposit (FD) account, also called as term deposit
account, is an interest-bearing account that has a specified date of maturity
The funds in these accounts are held for a fixed term, and guarantee a return of principal
This means, the interest rate remains unchanged for the nominated term
The interest rates on fixed deposits (FDs), which are revised from time to time, vary according to the tenor of a fixed deposit
general public, SBI currently pays an interest rate of 6.8 per cent
While HDFC Bank offers 7.25 per cent, ICICI Bank pays 7.25 per cent and Kotak Mahindra Bank offers 7.00% interest for the same tenor and
amount.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 days5.75%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 - 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 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 Year 15 days7.30%7.80%1 Year 16
Years7.40%7.90%3 years 1 day - 5 years7.25%7.75%5 Years 1 day - 8 Years6.50%7.00%8 Years 1 day - 10 Years6.50%7.00%(Source:
icicibank.com:Rate of Interest (% p.a.) w.e.f November 15, 2018Tenure PeriodGeneralSenior 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 up to 3 years7.5%8%3 years 1 day up to 5 years7.25%7.75%5 years 1 day up to 10 years7%7.5%5 years Tax saver FD (max up to Rs
1.50 lakh)7.25%7.75%(Source: icicibank.com)Kotak Mahindra BankThe following FD interest rates are applicable on deposits below Rs 1 crore,
according to the bank's website - kotak.com:Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from February 21,
Days5.00%5.50%46 - 90 Days5.50%6.00%91 - 120 Days6.25%6.75%121 - 179 days6.25%6.75%180 Days6.75%7.25%181 Days to 269 Days6.75%7.25%270
Days6.75%7.25%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 up to and inclusive of 10
years6.50%7.00%Indian bankThe following FD interest rates are applicable on deposits below Rs 1 crore with effect from February 17, 2019,
according to the bank's website - indianbank.in:Maturity PeriodLess Than Rs 1 Crore, rates p.a.(%)7 days to 14 days4.5%15 days to 29
days4.5%30 days to 45 days4.5%46 days to 90 days5%91 days to 120 days6.25%121 days to 180 days6.5%181 days to less than 9 months6.5%9 months
to less than 1 year6.5%1 year6.75%Above 1 Year to less than 2 Years6.6%2 years to less than 3 years6.5%3 years to less than 5 years6%5
year6%Above 5 years6%An additional interest rate of 0.50 per cent over and above the card rates is applicable for term deposits of senior
citizens for value below Rs
1 crore, said Indian Bank.
