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SBI, ICICI Bank, HDFC Bank, Yes Bank Reveals Their New Fixed Deposit Interest Rates

NEWS WORLD INDIA | 0
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| December 23 , 2018 , 14:11 IST

Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, Yes Bank, among others offer the facility of opening a fixed deposit.

Fixed deposits are investment instruments offered by banks and non-banking financial companies, where you can deposit money for a higher rate of interest than savings accounts. You can deposit a lump sum of money in fixed deposits for a specific period, ranging from 7 days to 10 years. 

Once the money is invested with a reliable financier, it starts earning an interest based on the duration of the deposit. Usually, the defining criteria for FD are that the money cannot be withdrawn before maturity, but you may withdraw them after paying a penalty.

If the interest amount exceeds Rs. 10,000, the bank would deduct tax at source (TDS) at the rate of 10 per cent per annum. However, fixed deposits with a maturity period of five years or 10 years offer income tax benefits under Section 80 C of the Income Tax Act, 1961.

The Interest rates offered by SBI, HDFC, ICICI and Yes Bank on fixed deposits up to Rs. 1 crore are given below.

State Bank Of India(SBI): 

HDFC Bank:

ICICI Bank:

Yes Bank: 

ALSO READ: State Bank Of India: Interest Rate Rises on Fixed Deposits, Check Latest Rates Here

Kamod Kumar

Kamod kumar

Kamod Kumar

Kamod kumar

Kamod Kumar

Kamod kumar