Fixed Deposits (FDs) are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. The annual returns on fixed deposit investments are fixed even if there are market fluctuations or geopolitical uncertainties, say financial experts. 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 Deposits (FDs) are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. The annual returns on fixed deposit investments are fixed even if there are market fluctuations or geopolitical uncertainties, say financial experts. 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 Deposits (FDs) are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. The annual returns on fixed deposit investments are fixed even if there are market fluctuations or geopolitical uncertainties, say financial experts. 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.
FD interest rates vary from one bank to another, depending on factors such as the term of the fixed deposit and amount invested.
Here's a comparison of interest rates offered by State Bank of India (SBI), HDFC Bank, ICICI Bank and IndusInd Bank on fixed deposits up to Rs 2 crore:
State Bank of India (SBI)
The following FD interest rates are applicable on deposits up to Rs 2 crore, according to sbi.co.in:
HDFC Bank
The following FD interest rates are applicable on deposits up to Rs 2 crore from March 7, 2019, according to bank's website- hdfcbank.com:
ICICI Bank
The following FD interest rates are applicable on deposits up to Rs 2 crore, according to bank's website- icicibank.com:
IndusInd Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore:
An additional interest rate of 0.50 per cent over and above the card rates is applicable for term deposits of senior citizens, according to bank's website, indusind.com.
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