Fixed deposits (FDs) are secure investment instruments offered by banks, non-banking financial companies (NBFCs) and post offices. In a bank fixed deposit (FD), investor can park lump sum amount and avail features like assured returns and choice of interest payout. Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, among others offer the facility of opening a fixed deposit. These days FDs can also be created online. The interest rates on FDs vary according to separate maturity baskets across different banks. Most banks offer fixed deposits starting from seven days up to a tenor of 10 years.
Given below are FD interest rates of SBI, HDFC Bank, ICICI Bank, Canara Bank and Punjab National Bank:
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs 2 crore with effect from May 9, 2019, according to sbi.co.in:
| Period | General public (% p.a.) | Senior citizens (% p.a.) |
|---|---|---|
| 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 | 7 | 7.5 |
| 2 years to less than 3 years | 6.75 | 7.25 |
| 3 years to less than 5 years | 6.7 | 7.2 |
| 5 years and up to 10 years | 6.6 | 7.1 |
HDFC Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from April 11, 2019 according to hdfcbank.com:
| Period | General public (% p.a.) | Senior citizen (% p.a.) |
|---|---|---|
| 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 |
ICICI Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from March 7, 2019 according to icicibank.com:
| Period | General public (% p.a.) | Senior citizens (% p.a.) |
|---|---|---|
| 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 lac) | 7.25 | 7.75 |
Canara Bank
The following FD interest rates are applicable on deposits less than Rs. 2 crore with effect from May 9, 2019, according to canarabank.com: