Fixed Deposit Interest Rates Of Key Lenders Compared Here
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. 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 Bank of Baroda, SBI, HDFC Bank, ICICI Bank and Bank of India:
Bank of Baroda
The following FD interest rates are applicable on deposits below Rs. 2 crore, according to bankofbaroda.com:
| Tenors | Interest rates effective from March 13, 2019 |
|---|---|
| 7 days to 14 days | 4.5 |
| 15 days to 45 days | 4.75 |
| 46 days to 90 days | 5 |
| 91 days to 180 days | 5.75 |
| 181 days to 270 days | 6.5 |
| 271 days & above and less than 1 year | 6.5 |
| 1 year | 6.7 |
| Above 1 year to 400 days | 6.85 |
| Above 400 days and upto 2 Years | 6.8 |
| Above 2 Years and upto 3 Years | 6.7 |
| Above 3 Years and upto 5 Years | 6.7 |
| Above 5 Years and upto 10 Years | 6.7 |
| 444 days (Only for Baroda Samriddhi Deposit Scheme) | 7 |
Branches may continue to pay an additional interest of 0.50 per cent on domestic term deposits of less than Rs 2 crore to senior citizens for all tenors in terms of extant guidelines, said the bank on its portal.
State Bank of India
The following FD interest rates are applicable on deposits below Rs. 2 crore, according to sbi.co.in:
| Tenors | Revised For Public w.e.f. 22.02.2019 | Revised for Senior Citizens w.e.f. 22.02.2019 |
|---|---|---|
| 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 | 6.4% | 6.9% |
| 1 year to less than 2 year | 6.8% | 7.3% |
| 2 years to less than 3 years | 6.8% | 7.3% |
| 3 years to less than 5 years | 6.8% | 7.3% |
| 5 years and up to 10 years | 6.85% | 7.35% |
| (Source: sbi.co.in) | ||
HDFC Bank
The following FD interest rates are applicable on deposits below Rs. 2 crore from March 7, 2019 according to hdfcbank.com:
| Period |
Interest Rate (per annum) |
Senior Citizen Rates (per annum) |
|---|---|---|
| 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 according to icicibank.com:
| Rate of Interest applicable from March 7, 2019 | ||
|---|---|---|
| Tenure Period | General | Senior Citizen |
| 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 upto Rs. 1.50 lac) | 7.25 | 7.75 |
Bank of India
The following FD interest rates are applicable on deposits below Rs. 2 crore according to bankofindia.co.in:
| Maturity Buckets | Interest rates effective from March 25, 2019 |
|---|---|
| 7 days to 14 days | 5.25 |
| 15 days to 30 days | 5.25 |
| 31 days to 45 days | 5.25 |
| 46 days to 90 days | 5.75 |
| 91 days to 179 days | 6 |
| 180 days to 269 days | 6.25 |
| 270 days to less than 1 year | 6.25 |
| 1 Year & above to less than 2 years | 6.65 |
| 2 years & above to less than 3 years | 6.7 |
| 3 years & above to less than 5 years | 6.5 |
| 5 years & above to less than 8 years | 6.5 |
| 8 years & above to 10 years | 6.35 |
The bank offers 0.50 per cent p.a. additional rate of interest over and above card rates to senior citizens for minimum deposits of Rs 5,000 up to Rs.1 crore, according to the bank's website.
