INSUBCONTINENT EXCLUSIVE:
Bank fixed deposits are suitable for people with low-risk appetite.Fixed deposits are investment instruments offered by banks and companies,
where you can deposit money for a higher interest rate than savings accounts
You can deposit a lump sum of money in fixed deposits for a specific period, ranging from seven days to 10 years
Once you deposit the money in a fixed deposit, you start earning an interest on your investment
Money can be deposited in a fixed deposit account only once
If you want to add more money, you need to create another fixed deposit account.Advantages of bank fixed depositsBank fixed deposits assure
returns on your investment
Bank FD interest rates do not change according to market volatilities
However, FD interest rates vary according to different tenures
However, corporate fixed deposits are riskier because their returns depend on the profits of the company.So bank fixed deposits are suitable
for people with low-risk appetite.Key banks like SBI or State Bank of India, HDFC Bank, ICICI Bank and UCO Bank offer the facility of
opening fixed deposit accounts
On a three-year fixed deposit, SBI pays interest of 6.8 per cent, HDFC Bank 7.10 per cent, ICICI Bank 7.25 per cent and UCO Bank 6.60 per
cent.Given below is a comparison of fixed deposit or FD interest rates of SBI, HDFC Bank, ICICI Bank and UCO Bank: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 up to 5 years7.257.755 years 1 day up to 10 years77.55 Years Tax saver FD(Max upto Rs
