Press "Enter" to skip to content

Fixed Deposit Interest Rates Paid By Banks On Deposits Below Rs 2 Crores

image

A fixed deposit (FDs) is a secure financial instrument offered by banks, post offices, small finance banks, non-banking financial companies which fetch guaranteed returns. In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts. One can deposit a lump sum of money in fixed deposits for a specific period, ranging from seven days to 10 years. Fixed deposit interest rates are subject to change from time to time. 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.

Here’s a comparison of fixed deposit (FD) interest rates paid by SBI, Canara Bank, HDFC Bank and ICICI Bank:

State Bank of India

The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from February 22, 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 6.40% 6.90%
1 year to less than 2 year 6.80% 7.30%
2 years to less than 3 years 6.80% 7.30%
3 years to less than 5 years 6.80% 7.30%
5 years and up to 10 years 6.85% 7.35%

Canara Bank

The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from April 5, 2019, according to canarabank.com:

Period General public (% p.a.) Senior citizens (% p.a.)
7 days to 14 days 5.75 6.25
15 days to 30 days 5.75 6.25
31 days to 45 days 5.75 6.25
46 days to 60 days 6 6.5
61 days to 90 days 6 6.5
91 days to 120 days 6 6.5
121 days to 179 days 6 6.5
180 days to 269 days 6 6.5
270 days to less than 1 year 6.2 6.7
1 year only 6.75 7.25
Above 1 year to less than 2 years 6.6 7.1
2 years & above to less than 3 years 6.6 7.1
3 years & above to less than 5 years 6 6.5
5 years & above to less than 8 years 6 6.5
8 years & above to 10 years 6 6.5
444 Days (Canara Shikhar Deposit) 6.65 7.15
555 Days (Canara Shikhar Deposit) 6.7 7.2

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

However, small finance banks pay higher returns on fixed deposits compared to private and public sector banks.

Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.

Source: NDTV Profit