INSUBCONTINENT EXCLUSIVE:
On a fixed deposit of one-year tenure, SBI offers an interest of 6.7%.Bank fixed deposits or FDs are safe instruments of fixed income
When you invest money in a fixed deposit, banks guarantee the rate of annual return on your investment
This is why fixed deposits are considered a secure form of investment
Fixed deposit returns are not linked to market volatility
So, even if markets fluctuate, returns on fixed deposits stay unchanged
Banks, however, change fixed deposit or FD interest rates from time to time.HDFC Bank released its latest fixed deposit or FD interest rates
However, state-run lender State Bank of India (SBI) and private sector peer ICICI Bank last revised their FD interest rates in July and
Bank of Maharashtra last revised its FD interest rates in August.On a fixed deposit of one-year tenure, SBI offers an interest of 6.7 per
cent, HDFC Bank of 7.25 per cent, ICICI Bank of 6.75 per cent and Bank of Maharashtra of 6.5 per cent.Given below is a comparison of fixed
deposit interest rates of SBI, HDFC Bank, ICICI Bank and Bank of Maharashtra:State Bank of IndiaThe following FD interest rates are
applicable on deposits below Rs 1 crore as stated on sbi.co.in:TermInterest rate for general public (with effect from July 30, 2018)Interest
rate for senior citizens (with effect from July 30, 2018)7 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 year6.77.22 years to less than 3 years6.757.253 years to less than 5 years6.87.35 years
days6.25%6.75%61 - 90 days6.25%6.75%91 days - 6 months6.25%6.75%6 mnths 1 day- 6 mnths 3 days6.75%7.25%6 mnths 4 days6.75%7.25%6 mnths 5
days- 9 mnths6.75%7.25%9 mnths 1 day- 9 mnths 3 days7.00%7.50%9 mnths 4 days7.00%7.50%9 months 5 days - 9 months 15 days7.00%7.50%9 months
16 days7.00%7.50%9 months 17 days < 1 Year7.00%7.50%1 Year7.25%7.75%1 year 1 day - 1 year 3 days7.25%7.75%1 year 4 days7.25%7.75%1 year 5
rate (with effect from August 14, 2018)GeneralSenior Citizen7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to
60 days5.756.2561 days to 90 days66.591 days to 120 days66.5121 days to 184 days66.5185 days to 289 days6.57290 days to less than 1
year6.757.251 year to 389 days6.757.25390 days to 2 years77.52 years 1 day upto 5 years7.257.755 years 1 day upto 10 years77.55 Years Tax
13.08.2018)7-45 days4.2546-90 days5.2591-364 days6365 Days/ 1 year6.5Over 1 year to 2 years6.5Over 2 years to 3 years6.6Above 3
days and above for deposits up to Rs 1 crore.Fixed deposits which have a lock-in period of five or 10 years offer income tax benefits under
Section 80 C of the Income-Tax Act, 1961.
