ICICI Bank, Axis Bank revise fixed deposit interest rates. Rates compared to HDFC Bank, SBI

Private Sector Lender The latest changes made by ICICI Bank to its fixed deposit interest rates have come into effect today. Another private sector lender, Axis Bank, also revised its interest rates yesterday. A fixed deposit (FD) is a secure financial instrument offered by banks, which allows to obtain guaranteed returns. In a fixed deposit account, money can be invested at a higher interest rate than savings accounts. A lump sum may be deposited in fixed deposits for a given period, ranging from seven days to ten years. Lenders also pay slightly higher interest rates on senior fixed deposits than on the general public

. 1 crore:

ICICI Bank

The following FD interest rates are applicable to deposits less than Rs. 1 crore, according to the bank's website – icicibank.com:

Axis Bank

The following FD interest rates are applicable to deposits below Rs. 1 crore, according to the website of the bank – axisbank.com:[19659059HERMETTOTO19659007HERTauxd&#39;interest(from14november2018)to19659055] General public Third Age 7 days to 14 days [19659064] 3.5 3.5 15 days to 29 days 3.5 3.5 30 days to 45 days 5.5 5.5 46 days to 60 days 6.25 6.25 61 days < 3 months 6.25 6.25 3 months <4 months 6.25 6.25 4 months <5 months 6.25 19659064] 6.25 5 months < 6 months 6.25 6.25 6 months <7 months 6.75 7 7 months <8 months 6.75 7 8 months <9 months 6.75 7 9 m <10 months 7.1 7.35 10 months <11 months 7.1 7.35 19659066] 11 months <1 year 7.1 7.35 1 year <1 year 5 days 7. 3 7.95 1 year 5 days <1 year 11 days 7.3 7.95 1 year 11 days <13 months 7.3 7.95 13 months <14 month 7.35 8 14 months <15 months 7.3 7.95 15 months <16 months 7 7.95 16 months <17 months [17 mois] 19659064] 7.3 7.95 17 months <18 months 7.3 7.95 18 months <2 years 7.3 7.95 2 years <30 months [19659058] 7.25 7.9 30 months <3 years 7.25 7.25 3 years <5 years 7.25 7, 75 5 years to 10 years 7 [19659064] 7.5

State Bank of India (SBI)

The following interest rates are applicable to deposits less than Rs. 1 crore, according to the website of the bank – sbi.co.in:[19659147HERperiodofmaturity(terme) Interest rate as of July 30 and 2018 General public Senior citizen 7 days up to 45 days 5.75 6.25 46 days to 179 days 6.25 6.75 180 days to 210 days 6.35 6.85 211 days at least less than one year 6.4 6.9 ] one year to less than 2 years 6.7 7.2 2 years to less than 3 years 6.75 7.25 3 years to less than 5 years 6.8 7.3 5 years and up to 10 years 6.85 7.35 (Source: sbi.co.in)

HDFC Bank

The following interest rates are applicable to deposits less than Rs. 1 crore of November 6, 2018, according to the bank's website – hdfcbank.com:

Term deposit accounts that have a blocking period of five or ten years also provide a tax benefit under section 80C of the Income Tax Act. income