Union Bank of India revised its fixed deposit interest rates with effect from February 27, 2019 according to the bank's website - unionbankofindia.co.in. A fixed deposit (FDs) is a secure financial instrument offered by banks, 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. Recently, PNB (Punjab National Bank) also revised its FD interest rates.
Union Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from February 27, 2019 according to the bank's website - unionbankofindia.co.in:
State Bank of India
Given below are the latest SBI FD interest rates on deposits below Rs. 2 crore:
Punjab National Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from March 1, 2019:
HDFC Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018:
ICICI Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore:
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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