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Fixed Deposit Interest Rates of best banks In India

Everyone looks for something extra in their life. In those way investors always looks for more Interest rates on their funds. Bank fixed deposits (FDs) offers guaranteed high interest rates therefore Investors give this high priority in their mind. Fix Deposits offer more security because of assured rate of returns as compared to the other market –linked instruments like share and all that. Fixed Deposit is a best of saving and one can invest in it for a fixed period of time like one year, two years or more. Investor can plan their future according to the maturity of FDs because the maturity date of an FD is also pre-decided.

Bank and NBFCs offers different interest for Fixed Deposit, SBI offers 6.25 % interest rates for one year investment. In the same way ICICI offers 6.6 % interest rates, HDFC offers 6.75% interest rates and BOB (Bank of Baroda) offers 6.45 % Interest rates for one year investment.

Types of Fixed Deposits

Basically FDs are of two types:-

  1. FDs that act as tax-saving instruments and cannot be withdrawn prematurely.
  2. Regular FDs that come with a premature withdrawal facility

Regular FDs can be redeemed before their maturity, while the Tax-saving fixed deposits cannot be redeemed before five years.

According to the banks’ websites, here are the interest rates of FDs offered by SBI, ICICI Bank, HDFC Bank and BOB with premature withdrawal facility.

SBI Fixed Deposit Interest Rates:

Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees One Crore ‘have been revised. The revised interest rates are as under:

Tenors Revised For Public w.e.f. 01.11.2017 Revised for Senior Citizens w.e.f. 01.11.2017
7 days to 45 days 5.25 % 5.75 %
46 days to 179 days 6.25 % 6.75 %
180 days to 210 days 6.25 % 6.75 %
211 days to less than 1 year 6.25 % 6.75 %
1 year 6.25 % 6.75 %
Above 1 year to 455 days 6.25 % 6.75 %
456 days to less than 2 years 6.25 % 6.75 %
2 years to less than 3 years 6 % 6.5 %
3 years to less than 5 years 6 % 6.5 %
5 years and up to 10 years 6 % 6.5 %

ICICI Bank Fixed Deposit Interest Rates:

Interest rates on Domestic, NRO & NRE deposits(Less than Rs. 1 crore)

Tenure Period Rate of Interest (% p.a.) w.e.f December 11, 2017
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 5.75 % 6.25 %
61 days to 90 days 6 % 6.5 %
91 days to 120 days 6 % 6.5 %
121 days to 184 days 6 % 6.5 %
185 days to 289 days 6.25 % 6.75 %
290 days to less than 1 year 6.5 % 7 %
1 year to 389 days 6.6 % 7.1 %
390 days to 2 years 6.75 % 7.25 %
2 years 1 day up to 5 years 6.5 % 7 %
5 years 1 day up to 10 years 6.5 % 7 %
5 Years Tax saver FD(Max up to Rs. 1.50 lac) 6.5 % 7 %

HDFC Bank Fixed Deposit Interest Rates:

Domestic / NRO / NRE Term Deposits

Tenure
Interest Rate **Senior Citizen Rates
(per annum) (per annum)
7 – 14 days 3.50% 4.00%
15 – 29 days 4.25% 4.75%
30 – 45 days 5.50% 6.00%
46 – 60 days 5.75% 6.25%
61 – 90 days 5.75% 6.25%
91 days – 6 months 5.75% 6.25%
6 months 1 day- 6 months 3 days 6.00% 6.50%
6 months 4 days 6.00% 6.50%
6 months 5 days- 9 months 6.00% 6.50%
9 months 1 day- 9 months 3 days 6.00% 6.50%
9 months 4 days 6.00% 6.50%
9 months 5 days – 9 months 15 days 6.00% 6.50%
9 months 16 days 6.25% 6.75%
9 months 17 days 6.25% 6.75%
1 Year 6.75% 7.25%
1 year 1 day – 1 year 3 days 6.75% 7.25%
1 year 4 days 6.25% 6.75%
1 year 5 days – 1 Year 15 Days 6.25% 6.75%
1 Year 16 days 6.25% 6.75%
1 year 17 days – 2 Years 6.25% 6.75%
2 years 1day – 2 Years 15 days 6.00% 6.50%
2 Years 16 days 6.00% 6.50%
2 years 17 days – 3 Years 6.00% 6.50%
3 years 1day – 5 years 6.00% 6.50%
5 Years 1 Day – 8 Years 6.00% 6.50%
8 Years 1 Day – 10 Years 6.00% 6.50%

BOB Fixed Deposit Interest Rates:

For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) – Below Rs. One Crore

Tenors Below Rs. 1 Cr. (w.e.f. 01.01.18)
7 days to 14 days 4.25
15 days to 45 days 4.75
46 days to 90 days 5
91 days to 180 days 5.5
181 days to 270 days 6
271 days & above and less than 1 year 6.25
1 year 6.45
Above 1 year to 400 days 6.55
Above 400 days and up to 2 Years 6.5
Above 2 Years and up to 3 Years 6.5
Above 3 Years and up to 5 Years 6.5
Above 5 Years and up to 10 Years 6.25

Fixed Deposit schemes run high in the mind of wise investors. It’s a great way of investing money in a right way. Both kinds of FDs comes with the locking period of 5 years and one can select best FD scheme offered by different bank.

The post Fixed Deposit Interest Rates of best banks In India appeared first on Banknomics Blog.

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Fixed Deposit Interest Rates of best banks In India

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