INSUBCONTINENT EXCLUSIVE:
Banks keep on revising their fixed deposit interest rates from time-to-time.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
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
rates and tenors vary according to different lenders.Banks keep on revising their fixed deposit interest rates from time-to-time
Currently, on a three-year fixed deposit below Rs 1 crore, SBI pays an interest rate of 6.8 per cent
As compared to this, HDFC Bank offers 7.10 per cent and ICICI Bank pays 7.25 per cent on fixed deposits of the same tenor and amount.Given
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
following FD interest rates are for deposits below Rs 1 crore with effect from October 6, according to 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 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 days7.00%7.50%9 months 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 1 day - 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 Day - 8
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
larger peers like State Bank of India (SBI), HDFC Bank and ICICI Bank.
