Here's Everything You Want To Know About Bank Fixed Deposits (FDs)

Bank fixed deposits or FDs are fixed-income instruments which guarantee a fixed rate of return on investments. Bank fixed deposits should not be confused with corporate fixed deposits, the returns on which depend on a company's performance. Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, and Yes Bank offer the facility of opening a fixed deposit. These days bank fixed deposits can be created online. Thus, it is convenient for customers to create fixed deposits..How are FD interest rates determined? Fixed deposit interest rates vary across banks according to the tenor of a fixed deposit. Most banks offer fixed deposits starting from seven days up to a tenor of 10 years..Fixed deposit interest rates are subject to change from time to time..How to get an interest payout on fixed deposit investments? You can opt for a monthly, quarterly and annual interest payout. You can also keep the entire amount as well as the interest income fixed to receive the proceeds on your FD investment at the time of maturity..How to calculate FD interest? Before creating an FD, you can always check the amount of interest that will accrue on your FD investment. Most banks offer this facility on their websites..FD interest rates offered by SBI, HDFC Bank, ICICI Bank, Yes Bank:.State Bank of India.The following FD interest rates are applicable on deposits below Rs. 1 crore, according to the bank's website - sbi.co.in:.table.shdl_table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; } table.shdl_table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.shdl_table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.shdl_table, table.shdl_table thead, table.shdl_table tbody, table.shdl_table th, table.shdl_table td, table.shdl_table tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { table.shdl_table, table.shdl_table thead, table.shdl_table tbody, table.shdl_table th, table.shdl_table td, table.shdl_table tr { font-size: 14px; } table.shdl_table th { padding: 4px; } table.shdl_table td { padding: 4px; } table.shdl_table th:nth-child(1), table.shdl_table td:nth-child(1), table.shdl_table th:nth-child(6), table.shdl_table td:nth-child(6) { displayx: none; } } /*Media Query END*/ . Tenors Revised For Public w.e.f. 30.07.2018 Revised for Senior Citizens w.e.f. 30.07.2018 7 days to 45 days 5.75 6.25 46 days to 179 days 6.25 6.75 180 days to 210 days 6.35 6.85 211 days to less than 1 year 6.4 6.9 1 year to less than 2 year 6.7 7.2 2 years to less than 3 years 6.75 7.25 3 years to less than 5 years 6.8 7.3 5 years and up to 10 years 6.85 7.35 .HDFC Bank .The following FD interest rates are for deposits below Rs 1 crore with effect from October 6, according to the bank's website - hdfcbank.com:.table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 16px; } table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } table td:last-child, table th:last-child { border-right: none; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table, thead, tbody, th, td, tr { font-size: 14px; } table th { padding: 4px; } table td { padding: 4px; } table th:nth-child(), table td:nth-child() { display: none; } } /* iPads (portrait and landscape) ----------- */ @media only screen and (min-device-width: 768px) and (max-device-width: 1024px) { body { width: 495px; } } /*Media Query END*/ . Period < 1 Crore Interest Rate (per annum) Senior Citizen Rates (per annum) 7 - 14 days 3.50% 4.00% 15 - 29 days 4.25% 4.75% 30 - 45 days 5.75% 6.25% 46 - 60 days 6.25% 6.75% 61 - 90 days 6.25% 6.75% 91 days - 6 months 6.25% 6.75% 6 mnths 1 day- 6 mnths 3 days 6.75% 7.25% 6 mnths 4 days 6.75% 7.25% 6 mnths 5 days- 9 mnths 6.75% 7.25% 9 mnths 1 day- 9 mnths 3 days 7.00% 7.50% 9 mnths 4 days 7.00% 7.50% 9 months 5 days - 9 months 15 days 7.00% 7.50% 9 months 16 days 7.00% 7.50% 9 months 17 days < 1 Year 7.00% 7.50% 1 Year 7.25% 7.75% 1 year 1 day - 1 year 3 days 7.25% 7.75% 1 year 4 days 7.25% 7.75% 1 year 5 days - 1 Year 15 Days 7.25% 7.75% 1 Year 16 days 7.25% 7.75% 1 year 17 days - 2 Years 7.25% 7.75% 2 years 1day - 2 Years 15 days 7.10% 7.60% 2 Years 16 days 7.10% 7.60% 2 years 17 days - 3 Years 7.10% 7.60% 3 years 1 day - 5 years 7.10% 7.60% 5 Years 1 Day - 8 Years 6.00% 6.50% 8 Years 1 Day - 10 Years 6.00% 6.50% .ICICI Bank.The following FD interest rates are for deposits below Rs 1 crore, according to the bank's website - icicibank.com:. table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 16px; } table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height:20px; } table td:last-child, table th:last-child { border-right: none; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table, thead, tbody, th, td, tr { font-size:14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table, thead, tbody, th, td, tr { font-size:14px; } table th {padding:4px;} table td {padding:4px;} } /* iPads (portrait and landscape) ----------- */ @media only screen and (min-device-width: 768px) and (max-device-width: 1024px) { body { width: 495px; } } /*Media Query END*/ . Tenure Period Rate of Interest (% p.a.) w.e.f August 14, 2018 General Senior Citizen* 7 days to 14 days 4 4.5 15 days to 29 days 4.25 4.75 30 days to 45 days 5.5 6 46 days to 60 days 5.75 6.25 61 days to 90 days 6 6.5 91 days to 120 days 6 6.5 121 days to 184 days 6 6.5 185 days to 289 days 6.5 7 290 days to less than 1 year 6.75 7.25 1 year to 389 days 6.75 7.25 390 days to 2 years 7 7.5 2 years 1 day upto 5 years 7.25 7.75 5 years 1 day upto 10 years 7 7.5 5 Years Tax saver FD(Max upto Rs. 1.50 lac) 7.25 7.75 .Yes Bank.The following FD interest rates are applicable on deposits below Rs 1 crore with effect from June 5, 2018, according to yesbank.in:.table.tbl_style { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.tbl_style th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.tbl_style td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.tbl_style th:nth-child(1), table.tbl_style td:nth-child(1) { width: 40%; text-align: left; } table.tbl_style th:last-child, table.tbl_style td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.tbl_style { display: table; min-width: 280px; max-width: 100%; } table.tbl_style th, table.tbl_style td, table.tbl_style th:nth-child(n+1), table.tbl_style td:nth-child(n+1) { display: table-cell; line-height: normal; } . RESIDENT FIXED DEPOSIT INTEREST RATES (% p.a)** Period Rates for < 1 Crore w.e.f 5th June 2018 Regular Senior Citizen*** Interest Rates Interest Rates 7 to 45 days 5.00% 5.50% 46 to 90 days 7.00% 7.50% 3 months to < 6 months 6.90% 7.40% 6 months to < 9 months 6.70% 7.20% 9 months to < 1 Year 6.70% 7.20% 1 Years to <= 10 years* 7.10% 7.60% *Special Rates 12 Months 10 Days to 12 Months 20 Days 7.40% 7.90% 18 Months 8 Days to 18 Months 18 Days 7.50% 8.00% 36 Months 10 Days to 36 Months 20 Days 7.25% 7.75% .Is FD interest taxable? The interest income earned on bank fixed deposits is fully taxable. 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..However, fixed deposits with a maturity period of five years or 10 years offer income tax benefits under Section 80 C of the Income Tax Act, 1961.

Here's Everything You Want To Know About Bank Fixed Deposits (FDs)

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