INSUBCONTINENT EXCLUSIVE:
Fixed deposits or FDs offer assured rates of return
FD interest rates are fixed over a specific period of time
Thus, even in times of market volatility, FD investors can be sure of earning fixed returns on their investment
FDs are also popular among customers because of the ease with which they can be created
Most banks these days allow the option of setting up a fixed deposit account online
FDs which come with a lock-in period of five or 10 years also offer benefits under the Income Tax Act.However, fixed deposits with a
facility of premature withdrawal do not offer income tax benefits.Recently, banks such as SBI or State Bank of India, HDFC Bank and ICICI
Bank raised their FD interest rates across select maturities
India Post, however, last revised its FD interest rates on January 1.Given below is a comparison of latest FD interest rates paid by SBI,
HDFC Bank, ICICI Bank and India Post:SBI fixed deposit interest rates 2018SBI 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
rates 2018The following HDFC Bank FD interest rates are applicable from August 6, 2018 for deposits below Rs 1 crore, according to
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
days to 14 days44.515 days to 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
yr.A/c6.70%3 yr.A/c6.90%5 yr.A/c7.40%The above FD interest rates are effective from January 2018.
