Last week, Union Bank of India revised its fixed deposit interest rates, according to the bank's website - unionbankofindia.co.in. A fixed deposit (FDs) is a secure financial instrument offered by banks, 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. Recently, State Bank of India (SBI), the largest lender of the country, also revised its FD interest rates.
Last week, Union Bank of India revised its fixed deposit interest rates, according to the bank's website - unionbankofindia.co.in. A fixed deposit (FDs) is a secure financial instrument offered by banks, 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. Recently, State Bank of India (SBI), the largest lender of the country, also revised its FD interest rates.
Last week, Union Bank of India revised its fixed deposit interest rates, according to the bank's website - unionbankofindia.co.in. A fixed deposit (FDs) is a secure financial instrument offered by banks, 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. Recently, State Bank of India (SBI), the largest lender of the country, also revised its FD interest rates.
Here's a comparison of interest rates offered by Union Bank Of India, SBI, HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:
Union Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore from November 28, 2018 according to the bank's website - unionbankofindia.co.in:
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs. 1 crore, according to the bank's website - sbi.co.in:
HDFC Bank
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:
ICICI Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore, according to the bank's website - icicibank.com:
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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