Fixed Deposit Interest Rates For Regular, Senior Citizens On Deposits Below 1 Crore Rupees

Just letting your savings stay idle in a bank account cannot grow your money. Investing your money in the right savings schemes boosts your savings, say financial planners. Bank fixed deposits (FDs) are one of the most popular fixed income instruments. Investing in a fixed deposit is secure because the returns on FD are fixed across predetermined, specific periods of time. Bank fixed deposits are for people who are averse to taking risks on their investments. For example, if you invest your money in stock or debt market, the returns may fluctuate. But since fixed deposit returns are immune to market volatility, investors are assured of returns on their investments.

Just letting your savings stay idle in a bank account cannot grow your money. Investing your money in the right savings schemes boosts your savings, say financial planners. Bank fixed deposits (FDs) are one of the most popular fixed income instruments. Investing in a fixed deposit is secure because the returns on FD are fixed across predetermined, specific periods of time. Bank fixed deposits are for people who are averse to taking risks on their investments. For example, if you invest your money in stock or debt market, the returns may fluctuate. But since fixed deposit returns are immune to market volatility, investors are assured of returns on their investments.

How to create a fixed deposit
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.

Major banks like State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of India (BoI) offer the option of opening a fixed deposit account.

Given below is a comparison of fixed deposit or FD interest rates offered by SBI, HDFC Bank, ICICI Bank, and BoI:

SBI fixed deposit rates

The following FD interest rates are applicable on deposits below Rs. 1 crore:

(Also Read: 5-Year Tax-Saving Fixed Deposit: Here Are Interest Rates Paid By Top Banks)

HDFC Bank fixed deposit interest rates

The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:

(Also Read: Here Are Top 10 Services Offered By State Bank Of India)

Bank of India fixed deposit interest rates

The following FD interest rates are from bankofindia.co.in

Post office fixed deposits offer annual returns between 6.9 per cent and 7.8 per cent.