A fixed deposit (FD) is a financial instrument which offers guaranteed returns. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Fixed deposit interest rates are also higher than those offered by savings accounts. Some fixed deposit accounts come with the facility of premature withdrawal while some have a compulsory lock-in period. Recently, State Bank of India, the largest lender of the country, revised its fixed deposit interest rates, across various maturities, amounts and for both general and senior citizens.
A fixed deposit (FD) is a financial instrument which offers guaranteed returns. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Fixed deposit interest rates are also higher than those offered by savings accounts. Some fixed deposit accounts come with the facility of premature withdrawal while some have a compulsory lock-in period. Recently, State Bank of India, the largest lender of the country, revised its fixed deposit interest rates, across various maturities, amounts and for both general and senior citizens.
A fixed deposit (FD) is a financial instrument which offers guaranteed returns. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Fixed deposit interest rates are also higher than those offered by savings accounts. Some fixed deposit accounts come with the facility of premature withdrawal while some have a compulsory lock-in period. Recently, State Bank of India, the largest lender of the country, revised its fixed deposit interest rates, across various maturities, amounts and for both general and senior citizens.
Here is a comparison of fixed deposit (FD) rates offered by State Bank of India (SBI), Yes Bank, ICICI Bank and HDFC Bank:
Fixed deposit (FD) rates offered by State Bank of India (Below Rs. 1 crore):
Revised For Public from July 30, 2018:
Fixed deposit (FD) rates offered by Yes Bank:
Fixed deposit (FD) rates offered by HDFC Bank (Less than Rs. 1 crore):
Fixed deposit (FD) rates offered by ICICI Bank:
Interest rates on Domestic, NRO & NRE deposits (Less than Rs 1 crore)
The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act.
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