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. 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 interest rates offered by SBI, IDBI Bank, HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:
State Bank of India (SBI):
Given below are the latest SBI FD interest rates on deposits below Rs 1 crore:
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:
IDBI Bank
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