INSUBCONTINENT EXCLUSIVE:
Fixed deposit (FD) accounts offer higher interest rates than savings accounts.A fixed deposit (FD) account, also called as term deposit
account, is an interest-bearing account that has a specified date of maturity
The funds in these accounts are held for a fixed term, and guarantee a return of principal
This means, the interest rate remains unchanged for the nominated term
So the account holders exactly know the worth of his/her investment
The fixed deposits (FDs) usually offer higher interest rates to senior citizens as compared to those for the general public.Fixed deposit
(FD) accounts offer higher interest rates than savings accounts
Banks keep on revising their fixed deposit interest rates from time-to-time
On a four-year fixed deposit below Rs
1 crore for general public, SBI currently pays an interest rate of 6.8 per cent
While HDFC Bank offers 7.10 per cent, ICICI Bank pays 7.25 per cent and Kotak Mahindra Bank offers 7.10% interest for the same tenor and
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 than 2 year6.77.22
rate in per cent effective from August 6, 2018Maturity periodGeneral publicSenior citizens7 - 14 days3.504.0015 - 29 days4.254.7530 - 45
days5.756.2546 - 60 days6.256.7561 - 90 days6.256.7591 days - 6 months6.256.756 mnths 1 day- 6 mnths 3 days6.757.256 mnths 4 days6.757.256
mnths 5 days- 9 mnths6.757.259 mnths 1 day- 9 mnths 3 days7.007.509 mnths 4 days7.007.509 months 5 days - 9 months 15 days7.007.509 months
16 days7.007.509 months 17 days < 1 Year7.007.501 Year7.257.751 year 1 day - 1 year 3 days7.257.751 year 4 days7.257.751 year 5 days - 1
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
- 14 Days3.50%4.00%15 - 30 Days4.00%4.50%31 - 45 Days5.00%5.50%46 - 90 Days5.50%6.00%91 - 120 Days6.00%6.50%121 - 179 days6.25%6.75%180
Days6.50%7.00%181 Days to 269 Days6.75%7.25%270 Days6.75%7.25%271 Days to 363 Days7.00%7.50%364 Days7.00%7.50%365 Days to 389
Days7.25%7.75%390 Days (12 months 25 days)7.25%7.75%391 Days - Less than 23 Months7.25%7.75%23 Months7.30%7.80%23 months 1 Day- less than 2
years7.30%7.80%2 years- less than 3 years7.10%7.60%3 years and above but less than 4 years7.10%7.60%4 years and above but less than 5
years7.00%7.50%5 years and above up to and inclusive of 10 years6.50%7.00%Meanwhile, small finance banks offer much higher interest rates on
fixed deposit or FD accounts than larger peers like State Bank of India (SBI), HDFC Bank and ICICI Bank.
