INSUBCONTINENT EXCLUSIVE:
It may be noted that banks offer a slightly higher interest rate on FDs to senior citizens.Public sector lender Canara Bank has revised its
fixed deposit (FD) rates with effect from November 1, 2018
Fixed deposits (FDs), also known as term deposits, are secure financial instruments, which offer guaranteed returns
Canara Bank has increased fixed deposit interest rate to 7 per cent (for general public) and 7.50 per cent (for senior citizens) for
deposits less than Rs 1 crore for a tenure of 1 year, as mentioned on it's official website- canarabank.com
The lender has also introduced special fixed deposit schemes (Canara Shikhar Deposit) for 444 and 555 days.For the same tenure, other banks
by Canara Bank, State Bank of India (SBI), HDFC Bank and ICICI Bank on fixed deposits up to Rs
1 crore:Canara BankThe following FD interest rates are applicable on deposits below Rs 1 crore, according to Canara Bank's website -
01.11.2018Term Deposits (All Maturities)General PublicSenior CitizenRate of Interest (% p.a)Rate of Interest (% p.a)7 days to 14
days6.256.75121 days to 179 days6.256.75180 days to 269 days6.356.85270 days to less than 1 year6.46.91 year only7.07.5Above 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 above to less than 8 years6.26.78
years above to 10 years6.26.7444 Days (Canara Shikhar Deposit)7.057.55555 Days (Canara Shikhar Deposit)7.107.60State Bank of India (SBI)The
following FD interest rates are applicable on deposits below Rs 1 crore, according to State Bank of India'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 up
to 5 years7.257.755 years 1 day up to 10 years77.55 Years Tax saver FD (Max up to Rs
1.50 lac)7.257.75However, small finance banks offer higher interest rates on fixed deposits as compared to other larger lenders.
