Fixed deposit are safest option in India and now government has given insurance cover up to rs.500000/-(five lacks)if any bank goes in defaults.
Types of Fixed Deposits
- Normal Fixed Deposits
- Tax-Saving Fixed Deposits
- Senior Citizen Fixed Deposits
- NRI Fixed Deposits
- Cumulative/Non-Cumulative Fixed Deposits
- Flexi Fixed Deposits
Features of a Fixed Deposit Account
- Safer than other investment vehicles.
- Lets you earn interest over a fixed period of time.
- Flexible tenures of up to 10 years.
- No cap on the maximum deposit.
- Additional rates for senior citizens.
Top 10 Tax Saver FD Interest Rates
Tax-saver FDs offer a maximum deduction of Rs.1.5 lakh under Section 80C of the Income Tax Act with the maximum deposit permissible being Rs.1.5 lakh. The lock-in period is 5 years. Senior citizens are offered an additional interest rate.
|
Name of Bank |
For General Citizens (p.a.) |
For Senior Citizens (p.a) |
|
State Bank of India FD |
2.90% to 5.65% |
3.40% to 6.45% |
|
HDFC Bank FD |
2.75% to 6.10% |
3.25% to 6.60% |
|
IDBI Bank FD |
2.70% to 5.75% |
3.20% to 6.50% |
|
Kotak Mahindra Bank FD |
2.50% to 6.10% |
3.00% to 6.60% |
|
RBL Bank FD |
3.25% to 7.00% |
3.75% to 7.50% |
|
Punjab National Bank FD |
3.00% to 6.10% |
3.50% to 6.60% |
|
Canara Bank FD |
2.90% to 6.00% |
2.90% to 6.50% |
|
Axis Bank FD |
2.75% to 5.75% |
2.75% to 6.50% |
|
Bank of Baroda FD |
3.00% to 5.50% |
3.50% to 6.50% |
|
IDFC First Bank FD |
3.50% to 6.90% |
4.00% to 7.40% |
