News Now

Explore the World News

State Bank Of India SBI Vs Yes Bank Vs HDFC Bank Vs ICICI Bank


FD interest rates vary according to the tenure of the fixed deposit and across banks.

Fixed deposits (FDs) are secure financial instruments, which offer guaranteed returns. FD interest rates vary according to the tenure of the fixed deposit and across banks. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period. Recently, top private lenders banks such as HDFC Bank and Axis Bank have revised their fixed deposit rates.

Here is a comparison of fixed deposit (FD) interest rates offered by State Bank of India (SBI), Yes Bank, HDFC Bank, ICICI Bank:

State Bank of India

The following FD interest rates are applicable on deposits below Rs. 1 crore as stated on sbi.co.in:

Tenors Revised For Public w.e.f. 30.07.2018 Revised for Senior Citizens w.e.f. 30.07.2018
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 6.7 7.2
2 years to less than 3 years 6.75 7.25
3 years to less than 5 years 6.8 7.3
5 years and up to 10 years 6.85 7.35

 

Yes Bank

The following FD interest rates are for deposits below Rs 1 crore with effect from June 5, 2018, as stated on yesbank.in:

RESIDENT FIXED DEPOSIT INTEREST RATES (% p.a)
Period Rates for < 1 Crore w.e.f 5th June 2018
Regular Interest Rates Senior Citizen Interest Rates
7 to 45 days 5.00% 5.50%
46 to 90 days 7.00% 7.50%
3 months to < 6 months 6.90% 7.40%
6 months to < 9 months 6.70% 7.20%
9 months to < 1 Year 6.70% 7.20%
1 Years to <= 10 years* 7.10% 7.60%
Special Rates
12 Months 10 Days to 12 Months 20 Days 7.40% 7.90%
18 Months 8 Days to 18 Months 18 Days 7.50% 8.00%
36 Months 10 Days to 36 Months 20 Days 7.25% 7.75%

 

HDFC Bank 

The following FD interest rates are for deposits below Rs 1 crore with effect from October 6, as stated on hdfcbank.com:

Period < 1 Crore
Interest Rate (per annum) **Senior Citizen Rates (per annum)
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 mnths 1 day- 6 mnths 3 days 6.75% 7.25%
6 mnths 4 days 6.75% 7.25%
6 mnths 5 days- 9 mnths 6.75% 7.25%
9 mnths 1 day- 9 mnths 3 days 7.00% 7.50%
9 mnths 4 days 7.00% 7.50%
9 months 5 days – 9 months 15 days 7.00% 7.50%
9 months 16 days 7.00% 7.50%
9 months 17 days < 1 Year 7.00% 7.50%
1 Year 7.25% 7.75%
1 year 1 day – 1 year 3 days 7.25% 7.75%
1 year 4 days 7.25% 7.75%
1 year 5 days – 1 Year 15 Days 7.25% 7.75%
1 Year 16 days 7.25% 7.75%
1 year 17 days – 2 Years 7.25% 7.75%
2 years 1day – 2 Years 15 days 7.10% 7.60%
2 Years 16 days 7.10% 7.60%
2 years 17 days – 3 Years 7.10% 7.60%
3 years 1 day – 5 years 7.10% 7.60%
5 Years 1 Day – 8 Years 6.00% 6.50%
8 Years 1 Day – 10 Years 6.00% 6.50%

 

ICICI Bank

The following FD interest rates are for deposits below Rs 1 crore as stated on icicibank.com:

Tenure Period Rate of Interest (% p.a.) w.e.f August 14, 2018
  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 6.5 7
290 days to less than 1 year 6.75 7.25
1 year to 389 days 6.75 7.25
390 days to 2 years 7 7.5
2 years 1 day upto 5 years 7.25 7.75
5 years 1 day upto 10 years 7 7.5
5 Years Tax saver FD(Max upto Rs. 1.50 lac) 7.25 7.75

The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act.



Updated: October 11, 2018 — 3:02 pm

Leave a Reply

News Now © 2018 Frontier Theme
%d bloggers like this: