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 (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. Fixed deposit accounts which do not offer a premature withdrawal facility offer this benefit but have a lock-in period.
Private sector lender Axis Bank revised its fixed deposit (FD) rates with effect from December 1, 2018. The latest rates are applicable across various tenors for domestic term deposits or fixed deposits (FDs). Country's largest lender State Bank of India (SBI) revised its fixed deposit or FD interest rates on select maturities with effect from November 28.
On deposits of Rs 1 crore for one year, SBI pays an FD interest rate of 6.70 per cent. 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.
Given below are the latest fixed deposit interest rates offered by Axis Bank, SBI, HDFC Bank and ICICI Bank:
Axis Bank fixed deposit rates 2018
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - axisbank.com:
SBI fixed deposit rates 2018
Given below are the latest SBI FD interest rates on deposits below Rs 1 crore as mentioned on bank's website-sbi.co.in:
HDFC fixed deposit rates 2018
The following FD interest rates are applicable on deposits below Rs 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:
ICICI Bank fixed deposit rates 2018
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - icicibank.com:
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