Bank fixed deposits (FD) are among the best bets of investors because of their fixed interest rates.
Bank fixed deposits (FD) are still among the best bets of investors because of their fixed interest rates.
Because of guaranteed returns, FDs are popular among risk-averse investors, who do not want their earnings to be swayed by market movements.
FDs, however, are of two types: regular and tax-saving.
Partial withdrawal from regular FDs is allowed but tax-saving FDs require customers to lock in their savings for a minimum of five years.
Leading banks like State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank and ICICI Bank offer the option of opening fixed deposit accounts.(: Recurring Deposit (RD) Interest Rates - SBI Vs ICICI Bank Vs HDFC Bank Vs Post Offices)Given below is a comparison of fixed deposit interest rates of PNB, HDFC Bank, ICICI Bank and SBI:Fixed deposit interest rates of PNB Interest rates on single domestic term or fixed deposits (pnbindia.in)PeriodROI (% p.a.)For Senior Citizen ROI (% p.a.)7 to 14 days5.76.215 to 29days5.76.230 to 45 days5.76.246 to 90 days6.356.8591 to 179 days6.356.85180 days to 270 Days6.356.85271 days to less than 1 year6.356.851 year6.67.1above 1 year upto 3 years6.757.25above 3 year upto 5 years6.256.75Fixed deposit interest rates of HDFC Bank Domestic / NRO / NRE term deposits (hdfcbank.com)Periodlt; 1 CroreInterest Rate**Senior Citizen Rates(per annum)(per annum)7 - 14 days3.50%4.00%15 - 29 days4.25%4.75%30 - 45 days5.50%6.00%46 - 60 days5.75%6.25%61 - 90 days5.75%6.25%91 days - 6 months5.75%6.25%6 mnths 1 day- 6 mnths 3 days6.00%6.50%6 mnths 4 days6.00%6.50%6 mnths 5 days- 9 mnths6.00%6.50%9 mnths 1 day- 9 mnths 3 days6.00%6.50%9 mnths 4 days6.00%6.50%9 months 5 days - 9 months 15 days6.00%6.50%9 months 16 days6.25%6.75%9 months 17 days < 1 Year6.25%6.75%1 Year6.85%7.35%1 year 1 day - 1 year 3 days6.50%7.00%1 year 4 days6.25%6.75%1 year 5 days - 1 Year 15 Days6.25%6.75%1 Year 16 days6.25%6.75%1 year 17 days - 2 Years7.00%7.50%2 years 1day - 2 Years15 days7.00%7.50%2 Years16 days7.00%7.50%2 years17 days - 3 Years7.00%7.50%3 years 1day - 5 years7.00%7.50%5 Years 1 Day - 8 Years6.00%6.50%8 Years 1 Day - 10 Years6.00%6.50%Fixed deposit interest rates of ICICI BankInterest rates on domestic, NRO NRE deposits (Less than Rs 1 crore), according to icicibank.comTenure PeriodRate of Interest (% p.a.) w.e.f December 11, 2017GeneralSenior Citizen*7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days5.756.2561 days to 90 days66.591 days to 120 days66.5121 days to 184 days66.5185 days to 289 days6.256.75290 days to less than 1 year6.571 year to 389 days6.67.1390 days to 2 years6.757.252 years 1 day up to 5 years6.575 years 1 day upto 10 years6.575 Years Tax saver FD(Max upto Rs.
1.50 lac)6.57State Bank of India (SBI) fixed deposit interest rates on deposits less than Rs 1 crore (according to sbi.co.in)(: SBI Bank Fixed Deposit (FD) Reinvestment Option - Rate Of Interest, Tenure And Other Details)(All figures in % per annum)TenorsExisting for Public w.e.f.
28.02.2018Revised For Public w.e.f.
28.03.2018Existing for Senior Citizens w.e.f.
28.02.2018Revised for Senior Citizens w.e.f.
28.03.20187 days to 45 days5.755.756.256.2546 days to 179 days6.256.256.756.75180 days to 210 days6.356.356.856.85211 days to less than 1 year6.46.46.96.91 year to less than 2 year6.46.46.96.92 years to less than 3 years6.56.677.13 years to less than 5 years6.56.777.25 years and up to 10 years6.56.7577.25Bank fixed deposits offer a higher interest rate than savings accounts.