INSUBCONTINENT EXCLUSIVE:
Bank FD interest rates are higher for senior citizens as compared to those for the general public.Bank fixed deposit (FD), a fixed-income
instrument, offers higher interest rates than the deposits in savings accounts
The annual returns on bank fixed deposits do not change according to geopolitical and macroeconomic uncertainties
In a bank FD account, money is deposited for a stated period of time and a fixed interest rate is paid at the end of that period
FD interest rates of most banks are higher for senior citizens as compared to those for the general public
The interest rates, which are revised from time to time, vary according to separate maturity baskets across different lenders.Private sector
lender Axis Bank revised its fixed deposit (FD) rates with effect from February 23, 2019
The latest rates are applicable across various tenors for domestic term deposits or fixed deposits (FDs)
Country's largest lender State Bank of India (SBI) last revised its fixed deposit or FD interest rates on select maturities with effect
following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - axisbank.com:Interest rates on
deposits below Rs 1 crore (with effect from February 23, 2019)TermGeneral publicSenior citizens7 days to 14 days3.53.515 days to 29
days3.53.530 days to 45 days3.55.546 days to 60 days3.56.2561 days < 3 months3.56.253 months < 4 months3.56.254 months < 5 months3.56.255
months < 6 months3.56.256 months < 7 months3.577 months < 8 months3.578 months < 9 months3.579 months < 10 months3.57.3510 months < 11
months3.57.3511 months < 1 year3.57.351 year < 1 year 5 days3.57.951 year 5 days < 1 year 11 days3.57.951 year 11 days < 13 months3.57.9513
months < 14 months3.5814 months < 15 months3.57.9515 months < 16 months3.57.9516 months < 17 months3.57.9517 months < 18 months3.57.9518
India (SBI)The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website -
sbi.co.in:TenorsRevised For Public w.e.f
28.11.2018Revised for Senior Citizens w.e.f
28.11.20187 days to 45 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less
than 2 year6.87.32 years to less than 3 years6.87.33 years to less than 5 years6.87.35 years and up to 10 years6.857.35(Source:
29 days4.25%4.75%30 - 45 days5.75%6.25%46 - 60 days6.25%6.75%61 - 90 days6.25%6.75%91 days - 6 months6.25%6.75%6 months 1 day- 6 months 3
days6.75%7.25%6 months 4 days6.75%7.25%6 months 5 days- 9 months6.75%7.25%9 months 1 day- 9 months 3 days7.10%7.60%9 months 4
days7.10%7.60%9 months 5 days - 9 months 15 days7.10%7.60%9 months 16 days7.10%7.60%9 months 17 days < 1 Year7.10%7.60%1 Year7.30%7.80%1
year 1 day - 1 year 3 days7.30%7.80%1 year 4 days7.30%7.80%1 year 5 days - 1 Year 15 days7.30%7.80%1 Year 16 days7.30%7.80%1 year 17 days -
November 15, 2018Tenure PeriodGeneralSenior Citizen7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60
days66.561 days to 90 days6.256.7591 days to 120 days6.256.75121 days to 184 days6.256.75185 days to 289 days6.57290 days to less than 1
year6.757.251 year to 389 days6.97.4390 days to 2 years7.17.62 years 1 day up to 3 years7.583 years 1 day up to 5 years7.257.755 years 1 day
up to 10 years77.55 years Tax saver FD (max up to Rs
1.50 lakh)7.257.75(Source: icicibank.com)The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax
