INSUBCONTINENT EXCLUSIVE:
Fixed deposits offer much higher interest rates than savings accounts.Fixed deposits (FDs) are secure investment instruments offered by
banks and non-banking financial companies, which offer guaranteed returns
In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts
One can deposit a lump sum of money in fixed deposits for a specific period, ranging from 7 days to 10 years
Lenders like State Bank of India (SBI), HDFC Bank, ICICI Bank, PNB Bank, Bank of Baroda, Yes Bank, among others offer the facility of
offered by SBI, ICICI Bank, HDFC Bank and BoB on deposits below Rs 1 crore:State Bank of India (SBI)The following FD interest rates are
applicable on deposits below Rs 1 crore, according to the bank's website - sbi.co.in:TenorsRevised For Public w.e.f
30.07.2018Revised 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
following FD interest rates are for deposits below Rs 1 crore with effect from October 6, according to the bank's website -
hdfcbank.com:Periodlt; 1 CroreInterest Rate (per annum)Senior Citizen Rates (per annum)7 - 14 days3.50%4.00%15 - 29 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 months 1 day- 6 months 3 days6.75%7.25%6 months 4
days6.75%7.25%6 months 5 days- 9 months6.75%7.25%9 months 1 day- 9 months 3 days7.00%7.50%9 months 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 years 1 day - 2
Years 15 days7.10%7.60%2 Years 16 days7.10%7.60%2 years 17 days - 3 Years7.10%7.60%3 years 1 day - 5 years7.10%7.60%5 Years 1 Day - 8
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
website- bankofbaroda.com:TenorsBelow Rs 1 Cr
22.08.18)7 days to 14 days4.2515 days to 45 days4.7546 days to 90 days591 days to 180 days5.5181 days to 270 days6.25271 days above and
less than 1 year6.51 year6.65Above 1 year to 400 days6.75Above 400 days and upto 2 Years6.7Above 2 Years and upto 3 Years6.6Above 3 Years
and upto 5 Years6.7Above 5 Years and upto 10 Years6.6The fixed deposit accounts have a lock-in period of five or 10 years also offer income
tax benefit under Section 80C of the Income Tax Act.
