Fixed deposits (FDs) are secure financial instruments, which offer guaranteed returns. FD interest rates vary according to the tenure of the fixed deposit and across banks. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period. Recently, State Bank of India, country's largest lender, revised its fixed deposit interest rates. 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. Here is a comparison of fixed deposit (FD) rates offered by State Bank of India (SBI), Kotak Mahindra Bank, HDFC Bank and ICICI Bank : Fixed deposit (FD) rates offered by State Bank of India (Below Rs. 1 crore): Revised from July 30, 2018:
Fixed deposit (FD) rates offered by Kotak Mahindra Bank (Below Rs. 1 crore):
Revised interest rates for domestic / NRO / NRE fixed deposits from July 26, 2018:
Fixed deposit (FD) rates offered by HDFC Bank (Less than Rs. 1 crore):
Fixed deposit (FD) rates offered by ICICI Bank:
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