Bank fixed deposits (FDs) are secure fixed-income instruments which offer guaranteed returns. Unlike stocks and mutual funds, fixed deposits offer assured returns because they are unaffected by market volatility, say experts. Top lenders such as State Bank of India (SBI), HDFC Bank and ICICI Bank, among others, offer fixed deposits. Customers are required to park their funds until a pre-determined period and then they can earn attractive interest rates on the same. Lenders also pay slightly higher interest rates on fixed deposits to senior citizens, compared to those applicable to the general public.
Given below are the latest interest rates offered by SBI, HDFC Bank, ICICI Bank and Yes Bank on fixed deposits (FDs) below 2 crore:
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs 2 crore, according to the bank's website - sbi.co.in:
HDFC Bank
The following FD interest rates are applicable on deposits below Rs 2 crore with effect from March 7, 2019 according to the bank's website - hdfcbank.com:
ICICI Bank
The following FD interest rates are applicable on deposits below Rs 2 crore, with effect from March 7, 2019, according to the bank's website - icicibank.com:
Yes Bank
The following FD interest rates are applicable on deposits below Rs 2 crore, according to the bank's website - yesbank.in:
Small finance banks (SFBs), meanwhile, offer higher interest rates on FDs as compared to the mainstream peers.
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