Fixed Deposit Interest Rates: In the nation, fixed deposits, or FD plans, have long been a well-liked kind of investing. Fixed-rate schemes (FDs) ensure security and set returns. Currently, a number of institutions are providing their FD programmes with competitive interest rates. The interest rates offered by public and private banks are constantly contrasted in this case.
Private Banks Lead
It is private banks that win this comparison. Government banks do, however, also provide their clients with excellent interest rates. They also periodically adjust the interest rates in addition to this. The Bank of India has now modified their FD dates in this regard.
For deposits under Rs 2 crore, Bank of India has revised its fixed deposit interest rates. Following this upgrade, the bank is now providing interest rates for deposit periods ranging from seven days to ten years, from three percent to seven and a quarter percent. These revised interest rates are effective as of April 1st, the start of this month.
Senior Citizen Benefits
Senior people with tenures of six months or longer are eligible for an additional fifty basic points from the bank. Super senior citizens receive an additional 65 basic points. In addition, the bank offers senior citizens and super senior citizens an extra 25 basic points for deposits under Rs 2 crore and a minimum three-year tenure.
Indian Bank’s Interest Rates for 7–45 Day Deposits
Indian Bank 3.5% is applied to deposits maturing in 7–45 days, 4.50 percent is applied to deposits maturing in 46–179 days, and 5.50 percent is applied to deposits maturing in 180–269 days and 270 days. provides a 5.75 percent interest rate for deposits that mature in less than a year.
In addition, the bank is giving 6.80 percent on deposits with maturities of one to two years, 7.25 percent on deposits with maturities of three to five years, and 6.50 percent on deposits with maturities of five to five years. offers a 6% interest rate on deposits that mature in ten years.
SBI’s Fixed Deposit Rates
General clients of State Bank of India can take advantage of interest rates ranging from 3.5 percent to 7 percent on fixed deposits with maturities ranging from 7 days to 10 years. In contrast, the bank offers senior people interest rates ranging from 4% to 7.5 percent for the same time period. These revised rates are effective as of December 27, 2017.
HDFC Bank’s Fixed Deposit Rates
For fixed deposits due from seven days to ten years, HDFC Bank offers its general clients interest rates ranging from 3 percent to 7.25 percent. On the other hand, the interest rates for older folks vary from 3.75 percent to 7.75 percent. These revised prices are effective as of this year’s February 9.
ICICI Bank’s Fixed Deposit Rates
Additionally, ICICI Bank offers interest to its regular clients on fixed deposits with maturities ranging from seven days to ten years, with rates ranging from 3 percent to 7.25 percent. On the other hand, older persons might receive interest rates from the bank for the same term ranging from 3.5 percent to 7.75 percent. These revised prices are effective as of this year’s February 17.