INSUBCONTINENT EXCLUSIVE:
Unlike stocks and bonds, bank fixed deposits guarantee a stable return on investments.Bank fixed deposits (FDs) are fixed-income instruments
which assure of specific interest rates for a pre-determined period
The annual returns on bank fixed deposits do not change according to geopolitical and macroeconomic uncertainties
Thus, unlike stocks and bonds, bank fixed deposits guarantee a stable return on investments even in times of market volatilities
Bank fixed deposits are meant for investors whose risk-appetite is low and hence are looking for fixed returns
Some fixed deposits also offer the benefit of income tax deduction.Bank fixed deposits which come with a premature withdrawal facility do
not offer income tax deduction benefits
Private sector peers HDFC Bank, ICICI Bank and Axis Bank pay 7.50 per cent, 7.95 per cent and 7.5 per cent respectively, on the same amount
and maturity.ICICI Bank last revised its FD interest rates with effect from November 15, HDFC Bank from November 6.Axis Bank fixed deposit
axisbank.com:TermInterest rates (with effect from December 1, 2018)General publicSenior citizens7 days to 14 days3.53.515 days to 29
days3.53.530 days to 45 days5.55.546 days to 60 days6.256.2561 days < 3 months6.256.253 months < 4 months6.256.254 months < 5
months6.256.255 months < 6 months6.256.256 months < 7 months6.7577 months < 8 months6.7578 months < 9 months6.7579 months < 10
months7.17.3510 months < 11 months7.17.3511 months < 1 year7.17.351 year < 1 year 5 days7.37.951 year 5 days < 1 year 11 days7.558.201 year
11 days < 13 months7.37.9513 months < 14 months7.35814 months < 15 months7.37.9515 months < 16 months7.37.9516 months < 17 months7.37.9517
months < 18 months7.608.2518 Months < 2 years7.307.952 years < 30 months7.508.1530 months < 3 years7.508.003 years < 5 years7.257.755 years
bank's website-sbi.co.in:TenorsRevised For Public w.e.f
28.11.2018Revised for Senior Citizens w.e.f
28.11.20187 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
than 2 year6.87.32 years to less than 3 years6.87.33 years to less than 5 years6.87.35 years and up to 10 years6.857.35Source:
deposits below Rs 1 crore, according to the bank's website - icicibank.com:Tenure PeriodRate of Interest (% p.a.) w.e.f November 15,
days6.256.7591 days to 120 days6.256.75121 days to 184 days6.256.75185 days to 289 days6.57290 days to less than 1 year6.757.251 year to 389
days6.97.4390 days to 2 years7.17.62 years 1 day upto 3 years7.583 years 1 day upto 5 years7.257.755 years 1 day upto 10 years77.55 Years
