Business

Here are the best fixed deposit interest rates offered by top banks

Updated : September 26, 2018 01:41 PM IST

The interest rate does not change in a FD account for the nominated term so that the account holders exactly know the worth of his/her investment.

Higher interest rates are offered by the fixed deposits to senior citizens as compared to those for the general public.

A fixed deposit (FD) account is an interest-bearing account that has a given date of maturity. A fixed term and a guarantee of return of principal is there for the funds in the FD account, reported NDTV Profit.

The interest rate does not change in a FD account for the nominated term so that the account holders exactly know the worth of his/her investment.

Higher interest rates are offered by the fixed deposits to senior citizens as compared to those for the general public.

Higher interest rates are provided by fixed deposit accounts as compared to savings accounts and banks always revise their fixed deposit interest rates from time-to-time.

Currently, SBI pays an interest rate of 6.8 percent, HDFC Bank offers 7.10 percent, ICICI Bank pays 7.25 percent and Kotak Mahindra Bank offers 7.10% interest for the same tenor and amount.

State Bank of India (SBI):

Interest rate in per cent effective from July 30, 2018
Maturity period	General public	Senior citizens
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	6.7	7.2
2 years to less than 3 years	6.75	7.25
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:

	Interest rate in per cent effective from August 6, 2018
Maturity period	General public	Senior citizens
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 mnths 1 day- 6 mnths 3 days	6.75	7.25
6 mnths 4 days	6.75	7.25
6 mnths 5 days- 9 mnths	6.75	7.25
9 mnths 1 day- 9 mnths 3 days	7.00	7.50
9 mnths 4 days	7.00	7.50
9 months 5 days - 9 months 15 days	7.00	7.50
9 months 16 days	7.00	7.50
9 months 17 days < 1 Year	7.00	7.50
1 Year	7.25	7.75
1 year 1 day - 1 year 3 days	7.25	7.75
1 year 4 days	7.25	7.75
1 year 5 days - 1 Year 15 Days	7.25	7.75
1 Year 16 days	7.25	7.75
1 year 17 days - 2 Years	7.25	7.75
2 years 1day - 2 Years 15 days	7.10	7.60
2 Years 16 days	7.10	7.60
2 years 17 days - 3 Years	7.10	7.60
3 years 1day - 5 years	7.10	7.60
5 Years 1 Day - 8 Years	6.00	6.50
8 Years 1 Day - 10 Years	6.00	6.50
(Source: hdfcbank.com)

ICICI Bank:

	Interest rate in per cent effective from August 14, 2018
Maturity period	General public	Senior citizens
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	5.75	6.25
61 days to 90 days	6	6.5
91 days to 120 days	6	6.5
121 days to 184 days	6	6.5
185 days to 289 days	6.5	7
290 days to less than 1 year	6.75	7.25
1 year to 389 days	6.75	7.25
390 days to 2 years	7	7.5
2 years 1 day upto 5 years	7.25	7.75
5 years 1 day upto 10 years	7	7.5
(Source: icicibank.com)

Kotak Mahindra Bank:

Interest Rate in per cent effective from August 9, 2018
	Regular	Senior Citizen
Maturity Periods - Premature Withdrawal Allowed	Less than Rs. 1 Crore	Less than Rs. 1 Crore
7 - 14 Days	3.50%	4.00%
15 - 30 Days	4.00%	4.50%
31 - 45 Days	5.00%	5.50%
46 - 90 Days	5.50%	6.00%
91 - 120 Days	6.00%	6.50%
121 - 179 days	6.25%	6.75%
180 Days	6.50%	7.00%
181 Days to 269 Days	6.75%	7.25%
270 Days	6.75%	7.25%
271 Days to 363 Days	7.00%	7.50%
364 Days	7.00%	7.50%
365 Days to 389 Days	7.25%	7.75%
390 Days (12 months 25 days)	7.25%	7.75%
391 Days - Less than 23 Months	7.25%	7.75%
23 Months	7.30%	7.80%
23 months 1 Day- less than 2 years	7.30%	7.80%
2 years- less than 3 years	7.10%	7.60%
3 years and above but less than 4 years	7.10%	7.60%
4 years and above but less than 5 years	7.00%	7.50%
5 years and above up to and inclusive of 10 years	6.50%	7.00%

Here are the best fixed deposit interest rates offered by top banks

You May Also Like

SIP calculator: Here's how much you should invest to earn Rs 1 crore?

Closing Bell: Sensex, Nifty end lower dragged by financials; settle the week 1.5% higher

Pharma sector Q1 preview: Brokerages expect a weak quarter, list top picks

Trending on CNBC-TV18

recommended for you