The interest rates on FDs vary according to separate maturity baskets across different banks.

Fixed deposits (FDs) are secure investment instruments offered by banks, non-banking financial companies (NBFCs) and post offices. In a bank fixed deposit (FD), investor can park lump sum amount and avail features like assured returns and choice of interest payout. Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, among others offer the facility of opening a fixed deposit. These days FDs can also be created online. The interest rates on FDs vary according to separate maturity baskets across different banks. Most banks offer fixed deposits starting from seven days up to a tenor of 10 years.

Given below are FD interest rates of SBI, HDFC Bank, ICICI Bank, Canara Bank and Punjab National Bank:

State Bank of India (SBI)

The following FD interest rates are applicable on deposits below Rs 2 crore with effect from May 9, 2019, according to sbi.co.in:

Period General public (% p.a.) Senior citizens (% p.a.) 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 7 7.5 2 years to less than 3 years 6.75 7.25 3 years to less than 5 years 6.7 7.2 5 years and up to 10 years 6.6 7.1

HDFC Bank