INSUBCONTINENT EXCLUSIVE:
Bank fixed deposit: HDFC Bank recently revised its interest rates on fixed deposits on select maturitiesBanks make adjustments in the
interest rates for retail customers from time to time
Lenders adjust these interest rates based on factors such as cost of borrowing from the Reserve Bank of India (RBI)
The central bank earlier this month announced a 25-basis-point hike in repo rate to 6.5 per cent
That made short-term borrowing of funds from the central bank more expensive for commercial banks
Public sector banking major State Bank of India (SBI) and private sector peer HDFC Bank recently revised their FD interest rates across
select maturities.Here's a comparison of FD interest rates paid by top banks today on amounts up to Rs 1 crore:HDFC Bank FD interest
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 days7.00%7.50%9 months 4 days7.00%7.50%9 months 5 days - 9 months 15 days7.00%7.50%9 months 16
days7.00%7.50%9 months 17 days < 1 Year7.00%7.50%1 Year7.25%7.75%1 year 1 day - 1 year 3 days7.25%7.75%1 year 4 days7.25%7.75%1 year 5 days
The following FD interest rates are for deposits below Rs 1 crore:(All figures in % per annum)TermInterest rate for general public w.e.f
30.07.2018Interest rate for senior citizens w.e.f
30.07.20187 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
Interest RatesFixed deposit (FD) rates offered by ICICI Bank:Interest rates on Domestic, NRO NRE deposits (Less than Rs 1 crore), as per
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 upto 5 years77.55 years 1
day upto 10 years77.55 Years Tax saver FD(Max upto Rs
returns without market risks
That is why investors with a low appetite for risk prefer investment in FD over a mutual fund, say financial planners.
