Interest You Can Earn On Fixed Deposit From Top Banks

Interest You Can Earn On Fixed Deposit From Top Banks

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By NDTV Profit Team NDTV Profit

Bank fixed deposits or FDs are fixed-income instruments which guarantee a fixed rate of return on investments. Leading lenders like State Bank of India (SBI), HDFC Bank, ICICI Bank, and Kotak Mahindra Bank offer the facility of opening a fixed deposit. Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period. The interest rates on fixed deposits (FDs), which are revised from time to time, vary according to the tenor of a fixed deposit. Most banks offer fixed deposits starting from seven days up to a tenor of 10 years.

Given below are the latest fixed deposit interest rates offered by SBI, HDFC Bank, ICICI Bank and Kotak Mahindra Bank:


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:

Tenors    Revised For Public w.e.f. 28.11.2018    Revised for Senior Citizens w.e.f. 28.11.2018
7 days to 45 days    5.75    6.25
46 days to 179 days    6.25    6.75
180 days to 210 days    6.35    6.85
211 days to less than 1 year    6.4    6.9
1 year to less than 2 year    6.8    7.3
2 years to less than 3 years    6.8    7.3
3 years to less than 5 years    6.8    7.3
5 years and up to 10 years    6.85    7.35
(Source: sbi.co.in)


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HDFC Bank

The following FD interest rates are for deposits below Rs. 1 crore with effect from November 6, 2018 according to the bank's website - hdfcbank.com:
Period    Interest rate on FD less than Rs. 1 Crore
 General public    Senior citizen
7 - 14 days    3.50%    4.00%
15 - 29 days    4.25%    4.75%
30 - 45 days    5.75%    6.25%
46 - 60 days    6.25%    6.75%
61 - 90 days    6.25%    6.75%
91 days - 6 months    6.25%    6.75%
6 months 1 day- 6 months 3 days    6.75%    7.25%
6 months 4 days    6.75%    7.25%
6 months 5 days- 9 months    6.75%    7.25%
9 months 1 day- 9 months 3 days    7.10%    7.60%
9 months 4 days    7.10%    7.60%
9 months 5 days - 9 months 15 days    7.10%    7.60%
9 months 16 days    7.10%    7.60%
9 months 17 days < 1 Year    7.10%    7.60%
1 Year    7.30%    7.80%
1 year 1 day - 1 year 3 days    7.30%    7.80%
1 year 4 days    7.30%    7.80%
1 year 5 days - 1 Year 15 days    7.30%    7.80%
1 Year 16 days    7.30%    7.80%
1 year 17 days - 2 Years    7.30%    7.80%
2 years 1 day - 2 Years 15 days    7.40%    7.90%
2 Years 16 days    7.40%    7.90%
2 years 17 days - 3 Years    7.40%    7.90%
3 years 1 day - 5 years    7.25%    7.75%
5 Years 1 day - 8 Years    6.50%    7.00%
8 Years 1 day - 10 Years    6.50%    7.00%
(Source: hdfcbank.com)

ICICI Bank

The following FD interest rates are for deposits below Rs 1 crore, according to the bank's website - icicibank.com:
Rate of Interest (% p.a.) w.e.f November 15, 2018
Tenure Period    General    Senior Citizen
7 days to 14 days    4    4.5
15 days to 29 days    4.25    4.75
30 days to 45 days    5.5    6
46 days to 60 days    6    6.5
61 days to 90 days    6.25    6.75
91 days to 120 days    6.25    6.75
121 days to 184 days    6.25    6.75
185 days to 289 days    6.5    7
290 days to less than 1 year    6.75    7.25
1 year to 389 days    6.9    7.4
390 days to 2 years    7.1    7.6
2 years 1 day up to 3 years    7.5    8
3 years 1 day up to 5 years    7.25    7.75
5 years 1 day up to 10 years    7    7.5
5 years Tax saver FD (max up to Rs. 1.50 lakh)    7.25    7.75
(Source: icicibank.com)

Kotak Mahindra Bank

The following FD interest rates are for deposits below Rs 1 crore with effect from December 20, 2018 according to the bank's website - kotak.com:
Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from 20th December 2018
Maturity Periods - Premature Withdrawal Allowed    Regular Less than Rs 1 Crore    Senior citizen Less than Rs 1 Crore
7 - 14 Days    3.50%    4.00%
15 - 30 Days    4.00%    4.50%
31 - 45 Days    5.00%    5.50%
46 - 90 Days    5.50%    6.00%
91 - 120 Days    6.25%    6.75%
121 - 179 days    6.25%    6.75%
180 Days    7.00%    7.50%
181 Days to 269 Days    7.00%    7.50%
270 Days    7.00%    7.50%
271 Days to 363 Days    7.00%    7.50%
364 Days    7.00%    7.50%
365 Days to 389 Days    7.30%    7.80%
390 Days (12 months 25 days)    7.40%    7.90%
391 Days - Less than 23 Months    7.30%    7.80%
23 Months    7.25%    7.75%
23 months 1 Day- less than 2 years    7.25%    7.75%
2 years- less than 3 years    7.25%    7.75%
3 years and above but less than 4 years    7.10%    7.60%
4 years and above but less than 5 years    7.00%    7.50%
5 years and above upto and inclusive of 10 years    6.50%    7.00%

Post offices also offer the option of opening a fixed deposit (FD) account. The government recently revised interest rates on post office fixed deposit scheme for the quarter ending March 31, 2019.

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