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Fixed deposit or FD interest rates and tenors vary according to different lenders.A fixed deposits or FD is a fixed income financial instrument which provides a higher interest rate than savings account and offers fixed rate of return.

Fixed deposits can be started for specific period, which can be as short as 45 days.

However, fixed deposit or FD interest rates and tenors vary according to different lenders.

Banks also keep revising their FD interest rates from time-to-time.

Bank fixed deposits usually offer a higher FD interest rate  to senior citizens than general public.Bank of India (BoI) has recently revised its FD interest rates.

On a three-year fixed deposit below Rs 1 crore, BoI pays an interest rate of 6.5 per cent.

As compared to this, SBI pays 6.8 per cent, HDFC Bank offers 7.10 per cent and ICICI Bank pays 7.25 per cent on fixed deposits of the same tenor and amount.Fixed deposit or FD interest rates of most banks are higher for senior citizens as compared to those for the general public.Given below is a comparison of fixed deposit or FD interest rates of BoI, SBI, HDFC Bank, and ICICI Bank:Fixed deposit or FD interest rates of BoIThe following FD interest rates are from bankofindia.co.in:Maturity BucketsDeposits less than Rs.1 Crw.e.f.

07.09.187 days to 14 days5.25*15 days to 30 days5.2531 days to 45 days5.2546 days to 90 days5.7591 days to 120 days6121 days to 179 days6180 days to 269 days6.25270 days to less than 1 year6.251 Year above to less than 2 Yrs6.652 years above to less than 3 years6.73 years above to less than 5 years6.55 years above to less than 8 years6.58 years above to 10 years6.35 State Bank of India (SBI)SBI pays the following interest rates with effect from July 30, 2018, according to its website - sbi.co.in:TermInterest rate for general public w.e.f.

30.07.2018Interest rate for senior citizens w.e.f.

30.07.20187 days to 45 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less than 2 year6.77.22 years to less than 3 years6.757.253 years to less than 5 years6.87.35 years and up to 10 years6.857.35 HDFC Bank HDFC Bank pays the following interest rates, according to its website - hdfcbank.com:Period< 1 CroreInterest Rate (per annum)**Senior Citizen Rates (per annum)7 - 14 days3.50%4.00%15 - 29 days4.25%4.75%30 - 45 days5.75%6.25%46 - 60 days6.25%6.75%61 - 90 days6.25%6.75%91 days - 6 months6.25%6.75%6 mnths 1 day- 6 mnths 3 days6.75%7.25%6 mnths 4 days6.75%7.25%6 mnths 5 days- 9 mnths6.75%7.25%9 mnths 1 day- 9 mnths 3 days7.00%7.50%9 mnths 4 days7.00%7.50%9 months 5 days - 9 months 15 days7.00%7.50%9 months 16 days7.00%7.50%9 months 17 days < 1 Year7.00%7.50%1 Year7.25%7.75%1 year 1 day - 1 year 3 days7.25%7.75%1 year 4 days7.25%7.75%1 year 5 days - 1 Year 15 Days7.25%7.75%1 Year 16 days7.25%7.75%1 year 17 days - 2 Years7.25%7.75%2 years 1day - 2 Years 15 days7.10%7.60%2 Years 16 days7.10%7.60%2 years 17 days - 3 Years7.10%7.60%3 years 1day - 5 years7.10%7.60%5 Years 1 Day - 8 Years6.00%6.50%8 Years 1 Day - 10 Years6.00%6.50% ICICI BankICICI Bank pays the following interest rates with effect from August 14, 2018, according to its website - icicibank.com:Tenure PeriodRate of Interest (% p.a.) w.e.f August 14, 2018GeneralSenior Citizen*7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days5.756.2561 days to 90 days66.591 days to 120 days66.5121 days to 184 days66.5185 days to 289 days6.57290 days to less than 1 year6.757.251 year to 389 days6.757.25390 days to 2 years77.52 years 1 day up to 5 years7.257.755 years 1 day upto 10 years77.55 Years Tax saver FD(Max upto Rs.

1.50 lac)7.257.75 Post offices also offer fixed deposits, the interest rates on which range from 6.6 per cent to 7.4 per cent.





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