FD Interest Rates: SBI Vs HDFC Bank Vs ICICI Bank Vs Axis Bank And More

If you are looking to invest your money in safe savings instruments, fixed deposits are always the best choice, say experts. Fixed deposits or FDs are secure fixed income instruments, which offer guaranteed returns. FD interest rates vary according to the tenure of the fixed deposit and across banks and companies. Corporate fixed deposits offer higher FD interest rates than banks' but then, the risk with corporate fixed deposits is also higher than those on bank fixed deposits..Fixed Deposits Meaning In a fixed deposit account, money is deposited for a specific period, say 45 days, one year, five years or even ten years. Some fixed deposits come with a premature withdrawal facility while others require a compulsory lock-in period. The fixed deposit accounts which have a lock-in period of five or 10 years offer income tax benefit under Section 80 C of the Income Tax Act..Fixed deposit interest rates: Which bank is best for fixed deposit? FD interest rates vary according to tenors and banks. For example, on a one-year fixed deposit in SBI (State Bank of India) interest rate is fixed at 6.65 per cent on a fixed deposit below Rs 1 crore. However, on the same tenure and amount, a fixed deposit with YES Bank fetches an interest rate of 7.1 per cent. It is tough to say which bank is the best for fixed deposit because fixed deposit rates vary..Given below are fixed deposit interest rates of SBI, HDFC Bank, ICICI Bank and other top banks:.The following are the latest FD interest rates of 10 key banks on fixed deposits less than Rs 1 crore: table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 16px; } table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } table td:last-child, table th:last-child { border-right: none; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table, thead, tbody, th, td, tr { font-size: 14px; } table th { padding: 4px; } table td { padding: 4px; } table th:nth-child(1), table td:nth-child(1), } } /* iPads (portrait and landscape) ----------- */ @media only screen and (min-device-width: 768px) and (max-device-width: 1024px) { body { width: 495px; } } /*Media Query END*/ . Banks Up to 1 year Up to 3 year Up to 5 year SBI 6.65 6.7 6.7 HDFC Bank 6.85 7 7 ICICI Bank 6.6 7 7 PNB 6.6 6.75 6.25 Axis Bank 7.1 7 Kotak Mahindra Bank 7.25 7 6.5 YES Bank 7.1 7.1 7.1 Bank of Baroda 6.6 6.6 6.7 Allahabad Bank 6.6 6.5 6.5 IDBI Bank 6.75 6.7 6.75 .(The above FD interest rates are from the respective banks' websites.).In fact small finance banks like Equitas Small Finance Bank, Fincare Small finance Bank, Suyoday Bank, among others, offer higher FD interest rates than larger peers..Post offices also offer fixed deposits, interest rates on which range from 6.6-7.4 per cent.

FD Interest Rates: SBI Vs HDFC Bank Vs ICICI Bank Vs Axis Bank And More

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