Fixed Deposits (FDs) are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. FDs are of two types: with premature withdrawal facility and without premature without facility. The fixed deposits which offer premature withdrawal facility do not offer income tax benefits. On the other hand, FDs without a premature withdrawal facility offer income tax benefits but require a lock-in period of five or ten years. Fixed deposit accounts can be created by visiting a bank branch or even online. These days, most banks offer the facility of opening fixed deposits online.
Fixed Deposits (FDs) are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. FDs are of two types: with premature withdrawal facility and without premature without facility. The fixed deposits which offer premature withdrawal facility do not offer income tax benefits. On the other hand, FDs without a premature withdrawal facility offer income tax benefits but require a lock-in period of five or ten years. Fixed deposit accounts can be created by visiting a bank branch or even online. These days, most banks offer the facility of opening fixed deposits online.
Fixed Deposits (FDs) are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. FDs are of two types: with premature withdrawal facility and without premature without facility. The fixed deposits which offer premature withdrawal facility do not offer income tax benefits. On the other hand, FDs without a premature withdrawal facility offer income tax benefits but require a lock-in period of five or ten years. Fixed deposit accounts can be created by visiting a bank branch or even online. These days, most banks offer the facility of opening fixed deposits online.
Given below is a comparison of fixed deposit or FD interest rates offered by SBI, HDFC Bank, ICICI Bank, and Post office:
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from May 9, 2019, according to bank's website:
(As mentioned on SBI's website)
HDFC Bank
HDFC Bank pays the following interest rates on fixed deposits up to Rs 2 crore, with effect from June 12, 2019, according to the bank's website:
ICICI Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from March 7, 2019, according to icicibank.com:
India Post
Post office FD account offers interest rates across four maturities: one year, two years, three years, and five years. Given below are the FD interest rates offered by post office:
(As mentioned on India Post's website)
In case of India Post, the interest is payable annually but is calculated quarterly.
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