Fixed Deposit Interest Rates: Check out the latest FD rates of SBI, HDFC Bank and others

By: | Updated: July 16, 2018 5:29 PM

Most Indian public sector banks like SBI and IDBI usually offer interest rates up to 6.75 per cent for periods less than 5 years, while private sector banks like HDFC, ICICI and Axis banks offer interest rates up to 7.5 per cent for the same period.

fixed deposits, FDs, fixed deposit interest rates, FD calculator, FD interest rates, FD vs debt funds, how to invest in fixed deposit,Bank FD rates are around 6.25-7.25 per cent. Fixed deposits can be useful for optimizing one’s portfolio.

Bank fixed deposits (FDs) continue to be a popular investment product not just among senior citizens, who are looking for guaranteed income, but also among investors who are risk averse. However, over-exposure to fixed deposits can cause sub-optimal usage of idle money. If you have put all your money in FDs, then you need to reassess your strategy to decide how much money you would want to park in them. The return gained from FDs may not give you a real return (a return that is above the rate of inflation). Hence, if you have thought of parking your money in FDs to sponsor your daughter’s marriage in 15 years, then an FD may not be the right strategy for you. However, if you are aiming to take a holiday in two years, then an FD can help.

ALSO READ: 14 situations where you can partially withdraw EPF money

You can save money by parking your funds in the fixed income products and also earn an interest income on the same. However, investments and interest in fixed deposits are subjected to income tax. A benefit of tax deduction under section 80C cannot be availed for fixed deposits with a tenure lesser than 5 years.

Most Indian public sector banks like SBI and IDBI usually offer interest rates up to 6.75 per cent for periods less than 5 years, while private sector banks like HDFC, ICICI and Axis banks offer interest rates up to 7.5 per cent for the same period.

Here is a table of the latest bank fixed deposit interest rates:

Bank<1 YearYearsW.E.F
>=1 to <=2 2 to <=33 to <=5
      
FOREIGN
Citi Bank6.257666-Jul-18
DBS Bank6.16.757.26.516-Apr-18
Deutsche Bank6.57.57.58.2529-Jun-18
HSBC66.25757-Jun-18
Scotia Bank44.54.551-Apr-17
StanChart77.476.56-Jul-18
      
INDIAN- PUBLIC SECTOR
      
Allahabad Bank6.56.66.56.527-Feb-18
Andhra Bank6.256.66.56.57-May-18
Bank of Mah66.56.667-May-18
BOB6.356.76.66.714-Jun-18
BOI6.256.66.656.411-Jun-18
Canara Bank6.3576.26.228-May-18
CBOI6.56.66.56.526-Apr-17
Corp Bank6.356.86.56.526-Jun-18
Dena Bank6.256.76.66.34-Jun-18
IDBI Bank6.56.756.76.7518-Jun-18
Indian Bank6.256.66.25611-Jun-18
IOB6.256.66.756.85-Apr-18
OBC6.56.756.756.7519-Jun-18
PNB6.356.756.756.251-Mar-18
Punjab & Sind6.46.756.66.5519-Mar-18
SBI6.46.656.656.7528-May-18
Syndicate Bank6.256.86.66.614-May-18
UCO Bank6.356.66.66.610-Jun-18
Union Bank6.756.756.56.527-Mar-18
United Bank66.25665-Jul-18
Vijaya Bank6.57.16.756.756-Jul-18
      
INDIAN- PRIVATE SECTOR
      
Axis Bank6.57.4772-Jul-18
Bandhan Bank6.87.47.47.44-Jun-18
Catholic Syrian6.256.56.756.53-Mar-17
CUB77.17.17.19-Feb-18
DCB77.257.37.7525-May-18
Dhanlaxmi Bank66.66.56.531-Aug-17
Federal Bank6.57.37714-Jun-18
HDFC Bank6.47776-Jul-18
ICICI Bank6.56.75777-Jun-18
IDFC Bank77.588.253-Jul-18
IndusInd Bank77.657.257.251-Jun-18
J & K Bank6.25776.2511-May-18
Karnataka Bank6.57.356.56.527-Jun-18
Kotak Bank77.2576.7528-Jun-18
KVB6.97777-Jun-18
LVB77.57.57.512-Jun-18
RBL Bank7.257.757.57.518-Jun-18
SIB6.857.47721-Jun-18
TMB77.1576.91-Jul-18
TNSC Bank6.656.86.56.514-Mar-18
Yes Bank77.17.17.15-Jun-18

Source: bankbazaar.com
For each year range, a maximum offered interest rate is considered; Interest Rate for normal fixed deposit amount below Rs 1 Cr

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