INSUBCONTINENT EXCLUSIVE:
A fixed deposit (FDs) is a financial instrument which offers guaranteed return
Unlike stocks and mutual funds, fixed deposits offer assured returns as they are unaffected by market volatility, say experts
Financial institutions such as banks, post office, small finance banks and non-banking financial companies offer fixed deposit schemes
Customers can invest money in fixed deposits for a specific period, ranging from seven days to 10 years
Banks usually pay a higher rate of interest to senior citizens compared to general public on fixed deposit accounts.State Bank of IndiaThe
following FD interest rates are applicable on deposits below Rs
2 crore with effect from May 9, 2019, according to sbi.co.in:PeriodGeneral public (% p.a.)Senior citizens (% p.a.)7 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 year77.52 years
to less than 3 years6.757.253 years to less than 5 years6.77.25 years and up to 10 years6.67.1Punjab National BankThe following FD interest
rates are applicable on deposits up to Rs
2 crore with effect from May 1, 2019, according to pnbindia.in:PeriodGeneral public (% p.a.)Senior Citizen (% p.a.)7 to 14 days5.756.2515 to
29 days5.756.2530 to 45 days5.756.2546 to 90 days6.356.8591 to 179 days6.356.85111 days6.57180 days to 270 Days6.356.85222 days6.67.1271
days to less than 1 year6.356.85333 days6.957.451 year77.5555 days6.857.35above 1 year up to 3 years6.757.25above 3 year up to 5
years6.256.75above 5 years up to 10 years6.256.75IndusInd BankThe following FD interest rates are applicable on deposits below Rs
2 crore according to indusind.com:An additional interest rate of 0.50 per cent over and above the card rates is applicable for term deposits
of senior citizens, according to the bank's website.HDFC BankElection Results for Lok Sabha Election 2019 will be out on May 23
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