Fixed deposits help people save money and also earn an attractive interest rate on the same. In a fixed deposit, customers can keep a certain amount of money with the bank for a specific tenure. In return for the fixed deposit, banks pay interest. Interest income is subject to the liable income tax. HDFC Bank, the largest private lender of the country, revised interest rates on fixed deposit (FD) accounts of various tenures with effect from July 6, 2018, according to its website hdfcbank.com.
Fixed deposits help people save money and also earn an attractive interest rate on the same. In a fixed deposit, customers can keep a certain amount of money with the bank for a specific tenure. In return for the fixed deposit, banks pay interest. Interest income is subject to the liable income tax. HDFC Bank, the largest private lender of the country, revised interest rates on fixed deposit (FD) accounts of various tenures with effect from July 6, 2018, according to its website hdfcbank.com.
Here NDTV analyses what HDFC Bank, State Bank of India (SBI), ICICI Bank and Allahabad Bank pay on your fixed deposits:
Fixed Deposit interest rates of HDFC Bank
Domestic / NRO / NRE Fixed Deposits
Applicable from July 6, 2018
Fixed deposit interest rates of State Bank of India (SBI) (Below Rs 1 crore) from sbi.co.in
Fixed deposit interest rates of ICICI Bank
Interest rates on Domestic, NRO & NRE deposits(Less than Rs 1 crore) from icicibank.com
Fixed Deposit interest rates of Allahabad Bank from allahabadbank.in
Interest rates on fixed deposits, (i.e. term deposits of less than Rs 1 crore) in certain time buckets are as detailed below:
Small finance banks like Suryoday Small Finance Bank and ESAF Small Finance Bank, among others, offer higher interest rates than larger peers. Interest rates on post office fixed deposits range between 6.6 per cent and 7.4 per cent.
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