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Fixed Deposit Interest Rates: Here's What Key Banks Offer
Fixed deposits or FDs are secure financial instruments offered by public, private sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns. In a fixed depositaccount, money can be invested for a higher rate of interest than savings accounts. Fixed deposit interest rates are subject to change from time to time. The interest rates vary according to the tenor of a fixed deposit. Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.
Here's a comparison of interest rates offered by SBI, PNB, Bandhan Bank, HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:
State Bank of India
Given below are the latest SBI FD interest rates on deposits below Rs. 1 crore:
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)
Punjab National Bank
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The following FD interest rates are applicable on deposits below Rs. 1 crore from December 10, 2018:
Maturity period (term) Interest rate applicable to domestic/NRO fixed deposits up to Rs 1 crore (with effect from 01.01.2019)
For general public For senior citizens
7 to 14 days 5.75% 6.25%
15 to 29 days 5.75% 6.25%
30 to 45 days 5.75% 6.25%
46 to 90 days 6.35% 6.85%
91 to 179 days 6.35% 6.85%
180 days to 270 days 6.35% 6.85%
271 days to less than 1 year 6.35% 6.85%
1 year 6.75% 7.25%
555 days (effective for a period of 01.11.2018 to 31.03.2019) 6.85% 7.35%
above 1 year up to 3 years 6.75% 7.25%
above 3 year up to 5 years 6.25% 6.75%
above 5 years up to 10 years 6.25% 6.75%
(Source: pnbindia.in)
Bandhan Bank
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The following FD interest rates are applicable on deposits below Rs. 1 crore from December 10, 2018:
Tenor Rate
7 days to 14 days 3.50%
15 days to 30 days 4.00%
31 days to Less than 2 months 4.00%
2 months to less than 3 months 4.00%
3 months to less than 6 months 4.50%
6 months to less than 1 year 6.80%
1 year to 18 months 7.35%
Above 18 months to less than 2 years 7.65%
2 years to less than 5 years 7.40%
5 years to less than 7 years 6.40%
7 years to up to 10 years 6.40%
Senior citizens will get additional 0.75 per cent over and above the given slab rates, said the bank on its official webiste - bandhanbank.com.
HDFC Bank
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The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018:
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:
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
Fixed deposits or FDs are secure financial instruments offered by public, private sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns. In a fixed depositaccount, money can be invested for a higher rate of interest than savings accounts. Fixed deposit interest rates are subject to change from time to time. The interest rates vary according to the tenor of a fixed deposit. Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.
Here's a comparison of interest rates offered by SBI, PNB, Bandhan Bank, HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:
State Bank of India
Given below are the latest SBI FD interest rates on deposits below Rs. 1 crore:
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)
Punjab National Bank
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The following FD interest rates are applicable on deposits below Rs. 1 crore from December 10, 2018:
Maturity period (term) Interest rate applicable to domestic/NRO fixed deposits up to Rs 1 crore (with effect from 01.01.2019)
For general public For senior citizens
7 to 14 days 5.75% 6.25%
15 to 29 days 5.75% 6.25%
30 to 45 days 5.75% 6.25%
46 to 90 days 6.35% 6.85%
91 to 179 days 6.35% 6.85%
180 days to 270 days 6.35% 6.85%
271 days to less than 1 year 6.35% 6.85%
1 year 6.75% 7.25%
555 days (effective for a period of 01.11.2018 to 31.03.2019) 6.85% 7.35%
above 1 year up to 3 years 6.75% 7.25%
above 3 year up to 5 years 6.25% 6.75%
above 5 years up to 10 years 6.25% 6.75%
(Source: pnbindia.in)
Bandhan Bank
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The following FD interest rates are applicable on deposits below Rs. 1 crore from December 10, 2018:
Tenor Rate
7 days to 14 days 3.50%
15 days to 30 days 4.00%
31 days to Less than 2 months 4.00%
2 months to less than 3 months 4.00%
3 months to less than 6 months 4.50%
6 months to less than 1 year 6.80%
1 year to 18 months 7.35%
Above 18 months to less than 2 years 7.65%
2 years to less than 5 years 7.40%
5 years to less than 7 years 6.40%
7 years to up to 10 years 6.40%
Senior citizens will get additional 0.75 per cent over and above the given slab rates, said the bank on its official webiste - bandhanbank.com.
HDFC Bank
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The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018:
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:
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
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