Fixed deposits (FDs) are secure financial instruments offered by commercial banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns. In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts. One can deposit a lump sum of money in fixed deposits for a specific period, ranging from seven days to 10 years. 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.
Fixed deposits (FDs) are secure financial instruments offered by commercial banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns. In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts. One can deposit a lump sum of money in fixed deposits for a specific period, ranging from seven days to 10 years. 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.
Fixed deposits (FDs) are secure financial instruments offered by commercial banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns. In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts. One can deposit a lump sum of money in fixed deposits for a specific period, ranging from seven days to 10 years. 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.
Here's a comparison of the latest interest rates paid by SBI, Kotak Mahindra Bank, HDFC Bank and ICICI Bank on FDs up to Rs. 1 crore:
State Bank of India (SBI):
Given below are the latest SBI FD interest rates on deposits below Rs 1 crore:
Kotak Mahindra Bank:
The following FD interest rates are applicable on deposits below Rs. 1 crore according to bank's website kotak.com:
HDFC Bank:
The following FD interest rates are applicable on deposits below Rs 1 crore from November 6, 2018:
ICICI Bank:
The following FD interest rates are applicable on deposits below Rs 1 crore:
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