Fixed Deposit Interest Rates Paid By Banks On Deposits Below Rs 2 Crores

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The fastened deposit accounts which have a lock-in interval of 5 or 10 years additionally provide revenue tax profit underneath Section 80C of the Income Tax Act.

Here’s a comparability of fastened deposit (FD) rates of interest paid by SBI, Canara Bank, HDFC Bank and ICICI Bank:

A set deposit (FDs) is a safe monetary instrument provided by banks, put up places of work, small finance banks, non-banking monetary firms which fetch assured returns. In a set deposit account, cash could be invested for a better charge of curiosity than financial savings accounts. One can deposit a lump sum of cash in fastened deposits for a particular interval, starting from seven days to 10 years. Fixed deposit rates of interest are topic to vary every now and then. The fastened deposit accounts which have a lock-in interval of 5 or 10 years additionally provide revenue tax profit underneath Section 80C of the Income Tax Act.

The following FD rates of interest are relevant on deposits under Rs. 2 crore with impact from February 22, 2019, based on sbi.co.in:

State Bank of India

Canara Bank

The following FD rates of interest are relevant on deposits under Rs. 2 crore with impact from April 5, 2019, based on canarabank.com:

HDFC Bank

The following FD rates of interest are relevant on deposits under Rs. 2 crore from April 11, 2019 based on hdfcbank.com:

ICICI Bank

However, small finance banks pay greater returns on fastened deposits in comparison with personal and public sector banks.

The following FD rates of interest are relevant on deposits under Rs. 2 crore from March 7, 2019 based on icicibank.com:

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