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Latest Fixed Deposit Rates Offered By Union Bank Of India, What Others Pay - NDTV News

One can deposit a lump sum of money in FDs for a specific period, ranging from seven days to 10 years.

Last week, Union Bank of India revised its fixed deposit interest rates, according to the bank's website - unionbankofindia.co.in. A fixed deposit (FDs) is a secure financial instrument offered by banks, which fetch guaranteed returns. In a fixed deposit account, money can be invested for a higher rate of interest than savings accounts. One can deposit a lump sum of money in fixed deposits for a specific period, ranging from seven days to 10 years. Recently, State Bank of India (SBI), the largest lender of the country, also revised its FD interest rates.

Here's a comparison of interest rates offered by Union Bank Of India, SBI, HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:

Union Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore from November 28, 2018 according to the bank's website - unionbankofindia.co.in:

Tenure < Rs. 1 Cr
7 day – 14 day 5
15 day – 30 day 5
31 day – 45 day 5
46 day – 90 day 5.5
91 day- 120 day 6.25
121 day to - 179 days 6.25
180 days 6.5
181 day to <10 Month 6.5
10 Month to 14 Month 6.75
>14 Month to 3 Year 6.7
>3 year - 5 Year 6.85
>5 year - 10 Year 6.85

 

State Bank of India (SBI)

The following FD interest rates are applicable on deposits below Rs. 1 crore, according to the bank's website - sbi.co.in:

Tenors Revised For Public w.e.f. 28.11.2018 Revised for Senior Citizens w.e.f. 28.11.2018
7 days 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 to less than 1 year 6.4 6.9
1 year to less than 2 year 6.8 7.3
2 years to less than 3 years 6.8 7.3
3 years to less than 5 years 6.8 7.3
5 years and up to 10 years 6.85 7.35


HDFC Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:

 

ICICI Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore, according to the bank's website - icicibank.com:

Tenure Period Rate of Interest (% p.a.) w.e.f November 15, 2018
  General Senior Citizen
7 days to 14 days 4 4.5
15 days to 29 days 4.25 4.75
30 days to 45 days 5.5 6
46 days to 60 days 6 6.5
61 days to 90 days 6.25 6.75
91 days to 120 days 6.25 6.75
121 days to 184 days 6.25 6.75
185 days to 289 days 6.5 7
290 days to less than 1 year 6.75 7.25
1 year to 389 days 6.9 7.4
390 days to 2 years 7.1 7.6
2 years 1 day upto 3 years 7.5 8
3 years 1 day upto 5 years 7.25 7.75
5 years 1 day upto 10 years 7 7.5
5 Years Tax saver FD (Max upto Rs. 1.50 lac) 7.25 7.75

The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act.



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