Fixed deposits (FD) provide interest rates that are usually higher than savings accounts. FDs offer good rates of return as their interest rates are fixed until a specific maturity date. Compared to other market-linked instruments like bonds and stocks, FDs offer security because their interest rates are not determined by volatile events. FDs are apt investors who are looking for a fixed income and want to stay away from market-linked risks. Largest lender State Bank of India (SBI), and the two biggest private sector lenders - ICICI Bank and HDFC Bank - offer attractive interest rates. On a one-year fixed deposit of less than Rs 1 crore, SBI offers interest rate of 6.4 per cent, ICICI Bank 6.6 per cent, and HDFC Bank 6.75 per cent. However, small finance bank Utkarsh Small Finance Bank offers 8.25 per cent interest rate on a fixed deposit of less than Rs 1 crore for one year - higher than all the three key lenders.
(Also Read: Fixed Deposit Interest Rates Of These Banks Are As High As 8.75%)
Here are the interest rates on fixed deposits offered by Utkarsh Small Finance Bank, SBI, ICICI Bank, HDFC Bank:
Fixed deposit interest rates of Utkarsh Small Finance Bank
For fixed deposits less than Rs 1 crore interest rates, according to the bank's official website, utkarsh.bank, are as follows:
| Sr.No. | TENURES | INTEREST RATES (% P.A.) - W.E.F March 14, 2018 | |
| General Customers | Senior Citizens | ||
| 1 | 7 Days to 15 days | 3.50% | 4.00% |
| 2 | 16 Days to 28 Days | 3.50% | 4.00% |
| 3 | 29 Days to 45 Days | 4.00% | 4.50% |
| 4 | 46 Days to 90 Days | 4.50% | 5.00% |
| 5 | 91 Days to 120 Days | 5.00% | 5.50% |
| 6 | 121 Days to 179 Days | 5.50% | 6.00% |
| 7 | 180 Days to 210 Days | 6.00% | 6.50% |
| 8 | 211 Days to 270 Days | 7.00% | 7.50% |
| 9 | 271 Days to less than 1 Year | 7.50% | 8.00% |
| 10 | 1 Year to 455 Days | 8.25% | 8.75% |
| 11 | 456 Days to less than 2 years | 8.50% | 9.00% |
| 12 | 2 Years to less than 3 Years | 7.85% | 8.35% |
| 13 | 3 Years to less than 5 Years | 7.00% | 7.50% |
| 14 | 5 Years | 8.00% | 8.50% |
| 15 | More than 5 Years to 10 Years | 7.00% | 7.50% |
| Tenors | Existing for Public w.e.f. 28.02.2018 | Revised For Public w.e.f. 28.03.2018 | Existing for Senior Citizens w.e.f. 28.02.2018 | Revised for Senior Citizens w.e.f. 28.03.2018 |
| 7 days to 45 days | 5.75 | 5.75 | 6.25 | 6.25 |
| 46 days to 179 days | 6.25 | 6.25 | 6.75 | 6.75 |
| 180 days to 210 days | 6.35 | 6.35 | 6.85 | 6.85 |
| 211 days to less than 1 year | 6.4 | 6.4 | 6.9 | 6.9 |
| 1 year to less than 2 year | 6.4 | 6.4 | 6.9 | 6.9 |
| 2 years to less than 3 years | 6.5 | 6.6 | 7 | 7.1 |
| 3 years to less than 5 years | 6.5 | 6.7 | 7 | 7.2 |
| 5 years and up to 10 years | 6.5 | 6.75 | 7 | 7.25 |
Tenure Period | Rate of Interest (% p.a.) w.e.f December 11, 2017 | |
| 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 | 6.25 | 6.75 |
| 290 days to less than 1 year | 6.5 | 7 |
| 1 year to 389 days | 6.6 | 7.1 |
| 390 days to 2 years | 6.75 | 7.25 |
| 2 years 1 day upto 5 years | 6.5 | 7 |
| 5 years 1 day upto 10 years | 6.5 | 7 |
| 5 Years Tax saver FD(Max upto Rs. 1.50 lac) | 6.5 | 7 |
| Period | < 1 Crore | |
| Interest Rate | **Senior Citizen Rates | |
| (per annum) | (per annum) | |
| 7 - 14 days | 3.50% | 4.00% |
| 15 - 29 days | 4.25% | 4.75% |
| 30 - 45 days | 5.50% | 6.00% |
| 46 - 60 days | 5.75% | 6.25% |
| 61 - 90 days | 5.75% | 6.25% |
| 91 days - 6 months | 5.75% | 6.25% |
| 6 mnths 1 day- 6 mnths 3 days | 6.00% | 6.50% |
| 6 mnths 4 days | 6.00% | 6.50% |
| 6 mnths 5 days- 9 mnths | 6.00% | 6.50% |
| 9 mnths 1 day- 9 mnths 3 days | 6.00% | 6.50% |
| 9 mnths 4 days | 6.00% | 6.50% |
| 9 months 5 days - 9 months 15 days | 6.00% | 6.50% |
| 9 months 16 days | 6.25% | 6.75% |
| 9 months 17 days < 1 Year | 6.25% | 6.75% |
| 1 Year | 6.75% | 7.25% |
| 1 year 1 day - 1 year 3 days | 6.75% | 7.25% |
| 1 year 4 days | 6.25% | 6.75% |
| 1 year 5 days - 1 Year 15 Days | 6.25% | 6.75% |
| 1 Year 16 days | 6.25% | 6.75% |
| 1 year 17 days - 2 Years | 6.25% | 6.75% |
| 2 years 1day - 2 Years 15 days | 6.00% | 6.50% |
| 2 Years 16 days | 6.00% | 6.50% |
| 2 years 17 days - 3 Years | 6.00% | 6.50% |
| 3 years 1day - 5 years | 6.00% | 6.50% |
| 5 Years 1 Day - 8 Years | 6.00% | 6.50% |
| 8 Years 1 Day - 10 Years | 6.00% | 6.50% |
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