Here Are The Fixed Deposit (FD) Interest Rates Of Five Banks
A fixed deposit (FD) is a financial instrument that offers a fixed income on deposit of money. This cash deposit is for a specific maturity period - ranging from few days to few years - also known as term of the fixed deposit. Fixed deposit interest rates are 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. On a fixed deposit under Rs 2 crore for a period of one-year, SBI offers an interest of 6.8 per cent, HDFC Bank of 7.3 per cent and ICICI Bank of 6.9 per cent to general public.
Given below are the latest interest rates offered by State Bank of India (SBI), ICICI Bank, HDFC Bank, Canara Bank and Yes Bank on fixed deposits (FDs) below Rs 2 crore:
State Bank of India
Given below are the latest SBI FD interest rates on deposits below Rs 2 crore:
| Tenors | Revised For Public w.e.f. 22.02.2019 | Revised for Senior Citizens w.e.f. 22.02.2019 |
|---|---|---|
| 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 | 6.8% | 7.3% |
| 2 years to less than 3 years | 6.8% | 7.3% |
| 3 years to less than 5 years | 6.8% | 7.3% |
| 5 years and up to 10 years | 6.85% | 7.35% |
| (Source: sbi.co.in) | ||
HDFC Bank
The following FD interest rates are applicable on deposits below Rs 2 crore from March 7, 2019 according to hdfcbank.com:
| Period | 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 months 1 day- 6 months 3 days | 6.75% | 7.25% |
| 6 months 4 days | 6.75% | 7.25% |
| 6 months 5 days- 9 months | 6.75% | 7.25% |
| 9 months 1 day- 9 months 3 days | 7.10% | 7.60% |
| 9 months 4 days | 7.10% | 7.60% |
| 9 months 5 days - 9 months 15 days | 7.10% | 7.60% |
| 9 months 16 days | 7.10% | 7.60% |
| 9 months 17 days < 1 Year | 7.10% | 7.60% |
| 1 Year | 7.30% | 7.80% |
| 1 year 1 day - 1 year 3 days | 7.30% | 7.80% |
| 1 year 4 days | 7.30% | 7.80% |
| 1 year 5 days - 1 Year 15 Days | 7.30% | 7.80% |
| 1 Year 16 days | 7.30% | 7.80% |
| 1 year 17 days - 2 Years | 7.30% | 7.80% |
| 2 years 1day - 2 Years 15 days | 7.40% | 7.90% |
| 2 Years 16 days | 7.40% | 7.90% |
| 2 years 17 days - 3 Years | 7.40% | 7.90% |
| 3 years 1day - 5 years | 7.25% | 7.75% |
| 5 Years 1 Day - 8 Years | 6.50% | 7.00% |
| 8 Years 1 Day - 10 Years | 6.50% | 7.00% |
ICICI Bank
The following FD interest rates are applicable on deposits below Rs 2 crore according to icicibank.com:
| Rate of Interest applicable from March 7, 2019 | ||
|---|---|---|
| Tenure Period | 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 | 6 | 6.5 |
| 61 days to 90 days | 6.25 | 6.75 |
| 91 days to 120 days | 6.25 | 6.75 |
| 121 days to 184 days | 6.25 | 6.75 |
| 185 days to 289 days | 6.5 | 7 |
| 290 days to less than 1 year | 6.75 | 7.25 |
| 1 year to 389 days | 6.9 | 7.4 |
| 390 days to 2 years | 7.1 | 7.6 |
| 2 years 1 day up to 3 years | 7.5 | 8 |
| 3 years 1 day up to 5 years | 7.25 | 7.75 |
| 5 years 1 day up to 10 years | 7 | 7.5 |
| 5 Years Tax saver FD(Max upto Rs. 1.50 lac) | 7.25 | 7.75 |
Canara Bank
Given below are the latest FD interest rates according to canarabank.com:
| Domestic | Rate of Interest (%) p.a. For deposits less than Rs 2 crore from March 12, 2019 | |||
|---|---|---|---|---|
| Term Deposits (All Maturities) | General Public Rate of Interest (% p.a) | Senior Citizen Rate of Interest (% p.a) | ||
| 7 days to 14 days | 5.75 | 6.25 | ||
| 15 days to 30 days | 5.75 | 6.25 | ||
| 31 days to 45 days | 5.75 | 6.25 | ||
| 46 days to 60 days | 6.25 | 6.75 | ||
| 61 days to 90 days | 6.25 | 6.75 | ||
| 91 days to 120 days | 6.25 | 6.75 | ||
| 121 days to 179 days | 6.25 | 6.75 | ||
| 180 days to 269 days | 6.35 | 6.85 | ||
| 270 days to less than 1 year | 6.4 | 6.9 | ||
| 1 year only | 7 | 7.5 | ||
| Above 1 year to less than 2 years | 7 | 7.5 | ||
| 2 years & above to less than 3 years | 6.7 | 7.2 | ||
| 3 years & above to less than 5 years | 6.2 | 6.7 | ||
| 5 years & above to less than 8 years | 6.2 | 6.7 | ||
| 8 years & above to 10 years | 6.2 | 6.7 | ||
| 444 Days (Canara Shikhar Deposit) | 7.05 | 7.55 | ||
| 555 Days (Canara Shikhar Deposit) | 7.1 | 7.6 | ||
Yes BankÂ
Given below are the latest Yes Bank FD interest rates according to yesbank.in:
| Period | Rates for < 2 Crore w.e.f March 5, 2019 | |||
|---|---|---|---|---|
| Regular | Senior Citizen | |||
| Interest Rates | Interest Rates | |||
| 7 to 45 days | 5.00% | 5.50% | ||
| 46 to 90 days | 6.25% | 6.75% | ||
| 3 months to < 6 months | 6.50% | 7.00% | ||
| 6 months to < 9 months | 6.85% | 7.35% | ||
| 9 months to < 1 Year | 7.15% | 7.65% | ||
| 1 Years to <= 10 years* | 7.25% | 7.75% | ||
| 12 Months 10 Days to 12 Months 20 Days | 7.50% | 8.00% | ||
| 18 Months 8 Days to 18 Months 18 Days | 7.85% | 8.35% | ||
| 36 Months 10 Days to 36 Months 20 Days | 7.50% | 8.00% | ||
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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