INSUBCONTINENT EXCLUSIVE:
Fixed Deposit Interest Rate: Banks provide slightly better returns to senior citizen customers.Top banks pay interest rates to the tune of
3.50-6.85 per cent on fixed deposits - also known as term deposits - up to Rs 2 crore
State Bank of India, HDFC Bank and ICICI Bank provide a range of maturity options to retail customers for setting up fixed deposits,
starting from seven days to as long as 10 years
All three banks provide slightly better returns to senior citizen customers
For example, the country's largest lender, SBI, pays interest at the rates of 5.00-6.75 to senior citizens and 4.50-6.25 to others on
2 crore with effect from November 10, according to the lender's website - sbi.co.in:TermInterest RateGeneral PublicSenior CitizensSeven to
45 days4.50%5%46 to 179 days5.50%6%180 to 210 days5.80%6.30%211 days to less than one year5.80%6.30%One year to less than two
years6.25%6.75%Two years to less than three years6.25%6.75%Three years to less than five years6.25%6.75%Five years and up to 10
years6.25%6.75%(Source: sbi.co.in)HDFC Bank Fixed Deposit Rates With Effect From October 30HDFC Bank offers the following FD interest rates
CitizensSeven to 14 days3.50%4.00%15 to 29 days4.00%4.50%30 to 45 days4.90%5.40%46 to 60 days5.40%5.90%61 to 90 days5.40%5.90%91 days to six
months5.40%5.90%Six months and one days to nine months6.00%6.50%Nine months and one day to less than one year6.25%6.75%One year6.45%6.95%One
year and one day to two years6.45%6.95%Two years and one day to three years6.85%7.35%Three years and one day to five years6.75%7.25%Five
years and one day to 10 years6.75%7.25%(Source: hdfcbank.com)ICICI Bank Fixed Deposit Rates With Effect From October 23ICICI Bank offers the
icicibank.com:TermInterest RateGeneral PublicSenior CitizensSeven to 14 days4%4.50%15 to 29 days4.25%4.75%30 to 45 days5%5.50%46 to 60
days5.50%6%61 to 90 days5.50%6%91 to 120 days5.50%6%121 to 184 days5.50%6%185 to 289 days6%6.50%290 days to less than one year6.25%6.75%One
year to 389 days6.45%6.95%390 days to less than 18 months6.45%6.95%18 months to two years6.85%7.35%Two years and one day to three
years6.75%7.25%Three years and one day to five years6.75%7.25%Five years and one day to 10 years6.75%7.25%5 years tax saver (maximum Rs 1.50
lakh)6.75%7.25%(Source: icicibank.com)Fixed deposit accounts with a lock-in period of five or 10 years offer income tax benefits under
rate at which it lends short-term funds to commercial banks such as SBI, PNB, ICICI Bank and HDFC Bank - by 135 basis points (1.35
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