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. Public sector lender Canara Bank, revised its fixed deposit interest rates with effect from March 12, 2019.
Here's a comparison of fixed deposit (FD) interest rates paid by SBI, Canara Bank, Yes Bank, HDFC Bank and ICICI Bank:
State Bank of India
Given below are the latest SBI FD interest rates on deposits below Rs. 2 crore:
Canara Bank
Given below are the latest FD interest rates according to canarabank.com:
Yes Bank
Given below are the latest Yes Bank FD interest rates according to yesbank.in:
HDFC Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from March 7, 2019 according to hdfcbank.com:
ICICI Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore according to icicibank.com:
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.
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