INSUBCONTINENT EXCLUSIVE:
Revised FD interest rates: Before ICICI Bank, HDFC Bank, PNB, Canara Bank and SBI hiked FD rates.Private sector lender ICICI Bank is the
latest bank to hike fixed deposit or FD interest rates
Before ICICI Bank, HDFC Bank, Punjab National Bank (PNB), Canara Bank and the largest lender of the country, State Bank of India or SBI had
Fixed deposits offer much higher interest rates than savings accounts
The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax
Most revisions in FD interest rates by key lenders came around the time the Reserve Bank of India hiked its repo rate to 6.5 per cent for
the second time in a row in its August policy review.Given below are FD interest rates offered by ICICI Bank, HDFC Bank, PNB, Canara Bank
and SBI:FD interest rates offered by ICICI BankICICI Bank fixed deposit or FD Interest rates on domestic, NRO NRE deposits (less than Rs 1
29 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 days6.57290 days to less than 1 year6.757.251 year to 389 days6.757.25390 days to 2 years77.52 years 1 day upto 5 years7.257.755
years 1 day upto 10 years77.55 Years Tax saver FD(Max upto Rs
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 mnths 1 day- 6 mnths 3
days6.75%7.25%6 mnths 4 days6.75%7.25%6 mnths 5 days- 9 mnths6.75%7.25%9 mnths 1 day- 9 mnths 3 days7.00%7.50%9 mnths 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 - 1 Year 15 Days7.25%7.75%1 Year 16 days7.25%7.75%1 year 17 days - 2 Years7.25%7.75%2
deposits or term deposits and NRE fixed deposits less than Rs.1 crore:Domestic TD Less Than Rs.1 Cr
01.08.2018PeriodROI (% p.a.)A.Y.**7 to 14 days5.75.715 to 29days5.75.730 to 45 days5.75.746 to 90 days6.356.3591 to 179 days6.356.35180 days
to 270 Days6.356.4271 days to less than 1 year6.356.451 year6.756.92above 1 year upto 3 years6.756.92above 3 year upto 5 years6.256.82PNB
04.08.2018Interest rate (%) for senior citizen w.e.f
04.08.20187 days to 14 days *5.756.2515 days to 30 days5.756.2531 days to 45 days5.756.2546 days to 60 days6.256.7561 days to 90
days6.256.7591 days to 120 days6.256.75121 days to 179 days6.256.75180 days to 269 days6.356.85270 days to less than 1 year6.46.91 year
only6.77.2Above 1 year to less than 2 years77.52 years above to less than 3 years6.77.23 years above to less than 5 years6.26.75 years
SBISBI revised its interest rates on retail fixed deposits with effect from August 30, stated sbi.co.in
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
banks like Jana Small Finance Bank, Fincare Small Finance Bank, and ESAF Small Finance Bank offer FD interest rates up to 9.5 per cent for
senior citizens and 9 per cent for general public.Among other small savings schemes, you can consider investing in recurring deposits,
sukanya samriddhi yojana, and senior citizen savings scheme.
