Fixed Deposit Interest Rates: Here's What Key Banks Offer

INSUBCONTINENT EXCLUSIVE:
FD interest rates: Fixed deposits offer much higher interest rates than savings accounts.Fixed deposits (FDs) are secure financial
instruments, which offer guaranteed returns
In a fixed deposit account, money is deposited for a specific time, which varies from seven days to 10 years
Regular savings accounts offer modest returns between 3-4 per cent usually
Fixed deposits, however, offer much higher interest rates than savings accounts
The fixed deposit 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.Here is a comparison of interest rates offered by State Bank of India (SBI), Canara Bank, HDFC Bank and ICICI Bank on fixed deposits up
to Rs
1 crore: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
30.07.2018Revised for Senior Citizens w.e.f
30.07.20187 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
Saving Schemes - Fixed Deposit Account Compared With Recurring Deposit Account)Canara BankCanara Bank pays the following interest rates on
fixed deposits up to Rs
04.08.2018Interest rate (%) for senior citizen w.e.f
04.08.20187 days to 14 days5.756.2515 days to 30 days5.756.2531 days to 45 days5.756.2546 days to 60 days6.256.7561 days to 90
days6.256.7591 days to 120 days6.256.75121 days to 179 days6.256.75180 days to 269 days6.356.85270 days to less than 1 year6.46.91 year
only6.77.2Above 1 year to less than 2 years77.52 years above to less than 3 years6.77.23 years above to less than 5 years6.26.75 years
the bank's website - hdfcbank.com:Period< 1 CroreInterest Rate (per annum)Senior Citizen Rates (per annum)7 - 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 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 days - 1 Year 15 Days7.25%7.75%1 Year 16 days7.25%7.75%1 year 17 days - 2 Years7.25%7.75%2
years 1day - 2 Years 15 days7.10%7.60%2 Years 16 days7.10%7.60%2 years 17 days - 3 Years7.10%7.60%3 years 1 day - 5 years7.10%7.60%5 Years 1
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 saver FD(Max upto Rs
rates up to 9.5 per cent on FDs.