Fixed deposit interest rates vary according to the tenor of a fixed deposit.Fixed deposits (FDs) are secure investment instruments offered by commercial banks, small finance banks, non-banking financial companies (NBFCs) and post offices.
The funds in FD accounts are held for a fixed term and offer choice of interest payout and assured returns.
FDs have a specified date of maturity.
Fixed deposit interest rates vary according to the tenor of a fixed deposit.
Recently, ICICI Bank hiked FD interest rates on select maturities.
Earlier this month, private sector bank HDFC Bank also revised their interest rates on fixed deposit .Private sector lender Federal Bank revised its fixed deposit (FD) rates with effect from November 17, 2018.
State Bank of India(SBI), country's largest lender, last revised its FD interest rates with effect from July 30, 2018.State Bank of India (SBI)The following FD interest rates are applicable on deposits below Rs1 crore, according to the bank's website - sbi.co.in:Maturity period (term)Interest rate with effect from July 30, 2018General publicSenior citizen7 days to 45 days5.75%6.25%46 days to 179 days6.25%6.75%180 days to 210 days6.35%6.85%211 days to less than 1 year6.4%6.9%1 year to less than 2 year6.7%7.2%2 years to less than 3 years6.75%7.25%3 years to less than 5 years6.8%7.3%5 years and up to 10 years6.85%7.35%(Source: sbi.co.in)HDFC BankThe following FD interest rates are applicable on deposits below Rs 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:ICICI BankThe following FD interest rates are applicable on deposits below Rs.
1 crore, according to the bank's website - icicibank.com:Tenure PeriodRate of Interest (% p.a.) w.e.f November 15, 2018GeneralSenior Citizen7 days to 14 days4%4.5%15 days to 29 days4.25%4.75%30 days to 45 days5.5%6%46 days to 60 days6%6.5%61 days to 90 days6.25%6.75%91 days to 120 days6.25%6.75%121 days to 184 days6.25%6.75%185 days to 289 days6.5%7%290 days to less than 1 year6.75%7.25%1 year to 389 days6.9%7.4%390 days to 2 years7.1%7.6%2 years 1 day upto 3 years7.5%8%3 years 1 day upto 5 years7.25%7.75%5 years 1 day upto 10 years7%7.5%5 Years Tax saver FD(Max upto Rs.
1.50 lac)7.25%7.75%Federal BankThe following FD interest rates are applicable on deposits below Rs1 crore, according to the bank's website - federalbank.co.in:PeriodLess than Rs 1 crore (General Public)7 days to 14 days3.50%15 days to 29 days4.50%30 days to 60 days5.00%61 days to 90 days5.70%91 days to 119 days6.00%120 days to less than 1 year6.50%1 year to 549 days7.00%550 days7.50%551 Days to 2 years7.00%Above 2 years7.25%Additional interest rate of 0.50 per cent is available for deposits of senior citizens for all tenors, noted Federal Bank on it's website.