INSUBCONTINENT EXCLUSIVE:
Fixed deposit or FD interest rates and tenors vary according to different lenders.A fixed deposits or FD is a fixed income financial
instrument which provides a higher interest rate than savings account and offers fixed rate of return
Fixed deposits can be started for specific period, which can be as short as 45 days
However, fixed deposit or FD interest rates and tenors vary according to different lenders
Banks also keep revising their FD interest rates from time-to-time
On a three-year fixed deposit below Rs 1 crore, BoI pays an interest rate of 6.5 per cent
As compared to this, SBI pays 6.8 per cent, HDFC Bank offers 7.10 per cent and ICICI Bank pays 7.25 per cent on fixed deposits of the same
tenor and amount.Fixed deposit or FD interest rates of most banks are higher for senior citizens as compared to those for the general
public.Given below is a comparison of fixed deposit or FD interest rates of BoI, SBI, HDFC Bank, and ICICI Bank:Fixed deposit or FD interest
rates of BoIThe following FD interest rates are from bankofindia.co.in:Maturity BucketsDeposits less than Rs.1 Crw.e.f
07.09.187 days to 14 days5.25*15 days to 30 days5.2531 days to 45 days5.2546 days to 90 days5.7591 days to 120 days6121 days to 179 days6180
days to 269 days6.25270 days to less than 1 year6.251 Year above to less than 2 Yrs6.652 years above to less than 3 years6.73 years above
interest rates with effect from July 30, 2018, according to its website - sbi.co.in: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
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
the following interest rates with effect from August 14, 2018, according to its website - icicibank.com:Tenure PeriodRate of Interest (%
p.a.) w.e.f August 14, 2018GeneralSenior Citizen*7 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 upto 10 years77.55 Years Tax
