Latest Fixed Deposit Interest Rates: SBI vs HDFC Bank vs ICICI Bank vs PNB FDs compared

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Updated: Feb 26, 2020 4:05 PM

FD is considered ideal for those who want to have premature withdrawal facilities as well as high liquidity.

cash limit per day as per income tax, cash payment limit per day as per income tax, Cash limit per day, income tax rule 6DD, cheque, debit, credit card, upiInterest rates differ from bank to bank and tenors.

Fixed Deposit Interest Rates: Big banks like State Bank of India (SBI), HDFC Bank, ICICI Bank and Punjab National Bank (PNB) provide an option to open a fixed deposit account. The current interest rates offered by these banks are ranging between 6 per cent and 6.9 per cent on deposits below Rs 2 crore. Below mentioned are the interest rates offered by SBI, HDFC Bank, ICICI Bank and PNB for Fixed Deposit account holders.

It is important to note here that fixed deposit or term deposit is an investment option where one can keep money with the bank for a fixed tenor. You can claim the money back along with the applicable rate after the end of the deposit tenor. These interest rates differ from bank to bank and tenors. FD is considered ideal for those who want to have premature withdrawal facilities as well as high liquidity.

FD Interest Rates for 1 year
State bank of India is offering 6 per cent interest on FDs of less than or equal to Rs 2 crore and this interest is 6.5 per cent for senior citizens. Similarly, for the same amount, HDFC Bank and ICICI Bank are offering an interest rate of 6.3 per cent (6.8 per cent for senior citizen) and 6.2 per cent (6.7 per cent for senior citizen), respectively. Punjab National Bank is offering 6.19 per cent interest while it is 6.55 per cent for adults.

FD Interest Rates for 2-3 years
Within this timespan, HDFC Bank and ICICI Bank are offering the same interest rate, that is 6.4 per cent. For senior citizens, these banks are offering 6.9 per cent interest on FDs of 2-3 years. PNB is offering the rate of 6.38 per cent while SBI is offering 6 per cent interest.

Here are some more interest rates on different tenors:

Interest Rates on FD for 3-5 years
SBI: 6 per cent (6.5 per cent for senior citizens)
HDFC: 6.3 per cent (6.8 per cent for senior citizens)
ICICI: 6.4 per cent (6.9 per cent for senior citizens)
PNB: 6.5 per cent (6.5 per cent for senior citizens)

Interest Rates on FD for 5-10 years
SBI: 6 per cent (6.5 per cent for senior citizens)
HDFC: 6.3 per cent (6.8 per cent for senior citizens)
ICICI: 6.4 per cent (6.9 per cent for senior citizens)
PNB: 7 per cent (6.5 per cent for senior citizens)

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