Fixed deposits (FDs), also known as term deposits (TDs), are financial instruments provided by banks, post offices and non-banking financial companies (NBFCs). Bank FDs provide investors with a higher rate of interest than a regular savings account. In a fixed deposit account, money is deposited for a specific time. Most banks today offer a maturity period ranging from seven days to 10 years for fixed deposits. Top lenders such as State Bank of India (SBI), HDFC Bank and ICICI Bank, among others, offer fixed deposits.
Fixed deposits (FDs), also known as term deposits (TDs), are financial instruments provided by banks, post offices and non-banking financial companies (NBFCs). Bank FDs provide investors with a higher rate of interest than a regular savings account. In a fixed deposit account, money is deposited for a specific time. Most banks today offer a maturity period ranging from seven days to 10 years for fixed deposits. Top lenders such as State Bank of India (SBI), HDFC Bank and ICICI Bank, among others, offer fixed deposits.
Given below is a comparison of fixed deposit (FD) interest rates paid by SBI, HDFC Bank, ICICI Bank, Axis Bank and Yes Bank:
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from February 22, 2019, according to sbi.co.in:
HDFC Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from April 11, 2019, according to hdfcbank.com:
ICICI Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from March 7, 2019 according to icicibank.com:
Axis Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from April 22, 2019 according to axisbank.com:
Yes Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from March 5, 2019 according to yesbank.in:
Small finance banks, on the other hand, pay higher returns on fixed deposits compared to private and public sector banks.
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