ADVERTISEMENT

Fixed Deposit Interest Rates Offered By Banks, Corporates

The risks involved in corporate fixed deposits are much higher than in bank FDs, financial analysts say
The risks involved in corporate fixed deposits are much higher than in bank FDs, financial analysts say

Fixed deposits or FDs are secure financial instruments offered by banks and non-banking financial companies (NBFCs), which fetch guaranteed returns. The interest rates offered on company fixed deposits are higher than those on bank fixed deposits. However, the risks involved in corporate fixed deposits are much higher than in bank FDs, financial analysts say. While returns on bank FDs are assured, the interest rates on corporate fixed deposits depend on the profits posted by the companies. Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank and non-banking finance companies such as Bajaj Finserv and Mahindra Finance, among others offer the facility of opening a fixed deposit (FD). 

Given below are the latest interest rates offered by key banks and non-banking finance companies on fixed deposits:

State Bank of India (SBI)

The following FD interest rates are applicable on deposits below Rs 2 crore, according to the bank's website - sbi.co.in:

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 1 crore with effect from November 6, 2018 according to the bank's website - hdfcbank.com:

Period Interest rate on FD less than Rs. 1 Crore
 General public Senior citizen
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%
(Source: 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:

Rate of Interest (% p.a.) w.e.f November 15, 2018
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 up to Rs. 1.50 lakh) 7.25% 7.75%
(Source: icicibank.com)

Bajaj Finserv

The FD interest rates according to Bajaj Finserv's website - bajajfinserv.in:

Tenor in Months Minimum deposit (in Rs.) Cumulative Non-Cumulative
Monthly Quarterly Half-yearly Yearly
12 – 23 25,000 8.00% 7.72% 7.77% 7.85% 8.00%
24 – 35 8.15% 7.88% 7.93% 8.00% 8.15%
36 – 60 8.75% 8.42% 8.48% 8.57% 8.75%
Special tenors scheme
15 Months 1,00,000 8.05% 7.77% 7.82% 7.89% 8.05%

Mahindra Finance

The following FD interest rates are applicable for online investors, according to Mahindra Finance's website - mahindrafinance.com

Dhanvruddhi Non-Cumulative Scheme*
Period(Months) Interest p.a.(Yearly) Interest p.a.(Monthly)
15 8.30% 7.75%
20 8.35% 8.00%
27 8.60% 8.10%
33 9.00% 8.50%
40 9.00% 8.50%
Minimum Amount 50,000 plus 50000 plus

Dhanvruddhi Cumulative Scheme*
Minimum Amount (Rs). Tenure Amount Payable(Rs.) Interestp.a** EffectiveYield p.a*
Rs.5,000†15 5527 8.30% 8.43%
20 5720 8.35% 8.63%
27 6024 8.60% 9.10%
33 6342 9.00% 9.76%
40 6669 9.00% 10.01%

Fixed deposits or FDs are also offered by post offices. Post office time deposit (TD) or Fixed Deposit (FD) account offers interest rates across four maturities: one year, two years, three years, and five years, according to India Post's official website- indiapost.gov.in.