Fixed Deposit (FD) Interest Rates: Returns Offered By Commercial Banks, Small Finance Banks
Fixed deposit (FDs), also known as term deposits, are secure investment instruments offered by private and public sector banks, small finance banks (SFBs), non-banking financial companies (NBFCs) and post offices. The funds in these accounts are held for a fixed term, has a specified date of maturity and offer assured returns. From a fixed deposit, the money can be withdrawn only after the term has ended or by giving a predetermined number of days' notice. The interest rates on FDs vary according to the tenor of a fixed deposit.Â
Small finance banks (SFBs) offer higher interest rates on FDs as compared to the mainstream peers. For instance, on deposits below Rs 1 crore, the largest lender of the country, State Bank of India (SBI), offers 6.8 per cent interest for a tenure of one year to less than two years. Ujjivan Small Finance Bank pays 7.5 per cent on a tenor of 180 days to 364 days, Jana Small Finance Bank offers 8.5 per cent for 181-365 days and Equitas Small Finance Bank pays 7.50 per cent for a period of 271 - 364 days
Given below are interest rates offered by large commercial banks and small finance banks on fixed deposits of 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 as mentioned on bank's website-sbi.co.in:
| Tenors | Revised For Public w.e.f. 28.11.2018 | Revised for Senior Citizens w.e.f. 28.11.2018 |
|---|---|---|
| 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 | 6.8% | 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 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:
| 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 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 1 day - 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 1 day - 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% |
Ujjivan Small Finance Bank
These are the FD interest rates paid by the bank on fixed deposits below Rs 1 crore, according to its website-ujjivansfb.in:
| Tenure | Interest Rate (pa) (Under Rs. 1 Crore) |
|---|---|
| 7 Days to 29 Days | 5.50% |
| 30 Days to 89 Days | 6.25% |
| 90 Days to 179 Days | 6.75% |
| 180 Days to 364 Days | 7.50% |
| 1 Year to 2 Years | 8.30% |
| 2 Years and 1 Day to 734 Days | 7.50% |
| 735 Days | 8.25% |
| 736 Days to 798 Days | 7.50% |
| 799 Days | 8.60% |
| 800 Days to 3 Years | 7.50% |
| 3 Years and 1 Day to 5 Years | 7.00% |
| 5 Years and 1 Day to 10 Years | 6.50% |
| Additional Interest Rate for Senior Citizens | 0.50% |
Jana Small Finance Bank
These are the FD interest rates paid by the bank on fixed deposits below Rs 1 crore, according to its website - janabank.com:
| Period | Interest Rate (p.a) | Interest Rate (p.a) | Interest Rate (p.a) |
|---|---|---|---|
| Fixed Deposit Plus with No Premature Withdrawal | Regular Fixed Deposit | Senior Citizen Fixed Deposit | |
| Applicable on deposit of >15 lakhs | Applicable on deposit < 1 crore | Applicable on deposit of < 1 crore | |
| 7-45 days | 6.00% | 6.00% | 6.60% |
| 46-60 days | 6.50% | 6.50% | 7.10% |
| 61-180 days | 7.25% | 7.00% | 7.60% |
| 181-365 days | 8.75% | 8.50% | 9.10% |
| More than 1 year and up to 2 years | 9.00% | 8.50% | 9.10% |
| More than 2 years to less than 3 years | 9.00% | 8.50% | 9.10% |
| 3 years | 9.25% | 9.00% | 9.60% |
| More than 3 years and up to 5 years | 8.50% | 8.50% | 9.10% |
| More than 5 years and up to 10 years | 7.00% | 7.00% | 7.60% |
Equitas Small Finance Bank
These are the FD interest rates paid by the bank on fixed deposits below Rs 1 crore, according to its website- equitasbank.com:
| Maturity period (term) | Interest rate with effect from November 1, 2018 |
|---|---|
| 7 - 14 days | 5.00% |
| 15 - 29 days | 5.50% |
| 30 - 45 days | 6.00% |
| 46 - 62 days | 6.25% |
| 63 - 90 days | 6.25% |
| 91 - 120 days | 6.50% |
| 121 - 180 days | 6.50% |
| 181 - 210 days | 6.75% |
| 211 - 270 days | 6.75% |
| 271 - 364 days | 7.50% |
| 1 year to 18 months | 8.50% |
| 18 months 1 day to 2 years | 8.75% |
| 2 years 1 day to 3 years | 8.80% |
| 3 years 1 day to 4 years | 7.00% |
| 4 years 1 day to 5 years | 7.00% |
| 5 years 1 day to 10 years | 7.00% |
| (Source: equitasbank.com) |
Suryoday Bank
These are the FD interest rates paid by the bank on fixed deposits below Rs 1 crore, according to its website- suryodaybank.com
| Maturity period (term) | Interest rate with effect from September 29, 2018 | |
|---|---|---|
| Â | General | Senior citizen |
| 7 days to 14 days | 4.00% | 4.50% |
| 15 days to 45 days | 4.00% | 4.50% |
| 46 days to 90 days | 5.00% | 5.50% |
| 91 days to 180 days | 5.50% | 6.00% |
| 181 days to 240 days | 7.50% | 8.00% |
| 241 days to less than 1 Year | 7.75% | 8.25% |
| 1 Year to 2 Years | 8.50% | 9.00% |
| Above 2 Years to 3 Years | 8.75% | 9.25% |
| 950 Days* | 9.00% | 9.50% |
| Above 3 Years to less than 5 Years | 8.00% | 8.50% |
| 5 Years | 8.25% | 8.75% |
| Above 5 Years to 10 Years | 7.25% | 7.75% |
| Source: suryodaybank.com) | ||
Post offices, meanwhile, offer FD interest rates between 6.9-7.8 per cent.
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