INSUBCONTINENT EXCLUSIVE:
Fixed deposit is an interest-bearing bank deposit account that has a specified date of maturity.Fixed deposits (FDs), also known as term
deposits, are secure investment instruments offered by private and public sector banks, small finance banks, non-banking financial companies
FD is an interest-bearing bank deposit account that has a specified date of maturity
The funds in these accounts are held for a fixed term and offer assured returns
When a term deposit is purchased, the client understands that the money can only be withdrawn after the term has ended or by giving a
FDs of small finance banks such as Equitas Small Finance Bank and AU Small Finance Bank offer higher interest rates than larger peers like
crore as mentioned on bank's website- sbi.co.in:Maturity period (term)Interest rate with effect from July 30, 2018General publicSenior
citizen7 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 year6.7%7.2%2 years to less than 3 years6.75%7.25%3 years to less than 5 years6.8%7.3%5 years and up to 10
public)7 - 14 days5.00%15 - 29 days5.50%30 - 45 days6.00%46 - 62 days6.25%63 - 90 days6.25%91 - 120 days6.50%121 - 180 days6.50%181 - 210
days6.75%211 - 270 days6.75%271 - 364 days7.50%1 year to 18 months8.50%18 months 1 day to 2 years8.75%2 years 1 day to 3 years8.80%3 years 1
day to 4 years7.00%4 years 1 day to 5 years7.00%5 years 1 day to 10 years7.00%Senior citizens get 0.75 per cent extra on the above mentioned
days4.00%4.50%15 days to 45 days4.00%4.50%46 days to 90 days5.00%5.50%91 days to 180 days5.50%6.00%181 days to 240 days7.50%8.00%241 days to
less than 1 Year7.75%8.25%1 Year to 2 Years8.50%9.00%Above 2 Years to 3 Years8.75%9.25%950 Days*9.00%9.50%Above 3 Years to less than 5
Years8.00%8.50%5 Years8.25%8.75%Above 5 Years to 10 Years7.25%7.75%Source: suryodaybank.comIn a fixed deposit account, money can be invested
for a higher rate of interest than savings accounts.
