After State Bank of India (SBI) revised its fixed deposit interest rates, private peers like ICICI Bank, HDFC Bank, Axis Bank and YES Bank have also followed suit. Bank fixed deposits are term deposits where the investor makes a lump sum investment and earns a higher rate of return in comparison to a savings account, for a specified period of time. At present, the interest rate on one-year bank FDs - generally ranges from 7.75 per cent to 8.75% per annum.
The interest earned on FDs is taxed as per one's income tax slab on accrual basis. If the interest amount exceeds Rs 10,000, the bank would deduct tax at source (TDS) at the rate of 10 per cent per annum. Investment in fixed deposits gives you an assured return. The returns are generally over and above than what is offered by a savings bank account. However, returns vary as per the tenure of investments.
Given below are interest rates on fixed deposits (FDs) offered by State Bank of India (SBI), ICICI Bank, HDFC Bank, Axis Bank and YES Bank:
Fixed deposit (FD) interest rates offered by State Bank of India (SBI)
Interest rates for retail domestic fixed deposits 'Below Rupees One Crore'
(All figures in % per annum)
After State Bank of India (SBI) revised its fixed deposit interest rates, private peers like ICICI Bank, HDFC Bank, Axis Bank and YES Bank have also followed suit. Bank fixed deposits are term deposits where the investor makes a lump sum investment and earns a higher rate of return in comparison to a savings account, for a specified period of time. At present, the interest rate on one-year bank FDs - generally ranges from 7.75 per cent to 8.75% per annum.
The interest earned on FDs is taxed as per one's income tax slab on accrual basis. If the interest amount exceeds Rs 10,000, the bank would deduct tax at source (TDS) at the rate of 10 per cent per annum. Investment in fixed deposits gives you an assured return. The returns are generally over and above than what is offered by a savings bank account. However, returns vary as per the tenure of investments.
Given below are interest rates on fixed deposits (FDs) offered by State Bank of India (SBI), ICICI Bank, HDFC Bank, Axis Bank and YES Bank:
Fixed deposit (FD) interest rates offered by State Bank of India (SBI)
Interest rates for retail domestic fixed deposits 'Below Rupees One Crore'
(All figures in % per annum)
After State Bank of India (SBI) revised its fixed deposit interest rates, private peers like ICICI Bank, HDFC Bank, Axis Bank and YES Bank have also followed suit. Bank fixed deposits are term deposits where the investor makes a lump sum investment and earns a higher rate of return in comparison to a savings account, for a specified period of time. At present, the interest rate on one-year bank FDs - generally ranges from 7.75 per cent to 8.75% per annum.
The interest earned on FDs is taxed as per one's income tax slab on accrual basis. If the interest amount exceeds Rs 10,000, the bank would deduct tax at source (TDS) at the rate of 10 per cent per annum. Investment in fixed deposits gives you an assured return. The returns are generally over and above than what is offered by a savings bank account. However, returns vary as per the tenure of investments.
Given below are interest rates on fixed deposits (FDs) offered by State Bank of India (SBI), ICICI Bank, HDFC Bank, Axis Bank and YES Bank:
Fixed deposit (FD) interest rates offered by State Bank of India (SBI)
Interest rates for retail domestic fixed deposits 'Below Rupees One Crore'
(All figures in % per annum)
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