INSUBCONTINENT EXCLUSIVE:
FD interest rates vary according to the tenure of the fixed deposit and across banks and companies.If you are looking to invest your money
in safe savings instruments, fixed deposits are always the best choice, say experts
Fixed deposits or FDs are secure fixed income instruments, which offer guaranteed returns
FD interest rates vary according to the tenure of the fixed deposit and across banks and companies
Corporate fixed deposits offer higher FD interest rates than banks' but then, the risk with corporate fixed deposits is also higher than
those on bank fixed deposits.Fixed Deposits MeaningIn a fixed deposit account, money is deposited for a specific period, say 45 days, one
year, five years or even ten years
Some fixed deposits come with a premature withdrawal facility while others require a compulsory lock-in period
The fixed deposit accounts which have a lock-in period of five or 10 years offer income tax benefit under Section 80 C of the Income Tax
Act.Fixed deposit interest rates: Which bank is best for fixed depositFD interest rates vary according to tenors and banks
For example, on a one-year fixed deposit in SBI (State Bank of India) interest rate is fixed at 6.65 per cent on a fixed deposit below Rs 1
However, on the same tenure and amount, a fixed deposit with YES Bank fetches an interest rate of 7.1 per cent
It is tough to say which bank is the best for fixed deposit because fixed deposit rates vary.Given below are fixed deposit interest rates of
SBI, HDFC Bank, ICICI Bank and other top banks:The following are the latest FD interest rates of 10 key banks on fixed deposits less than Rs
Bank7.2576.5YES Bank7.17.17.1Bank of Baroda6.66.66.7Allahabad Bank6.66.56.5IDBI Bank6.756.76.75(The above FD interest rates are from the
respective banks' websites.)In fact small finance banks like Equitas Small Finance Bank, Fincare Small finance Bank, Suyoday Bank, among
others, offer higher FD interest rates than larger peers.Post offices also offer fixed deposits, interest rates on which range from 6.6-7.4
