FD interest rates are subject to change from time to time

A fixed deposit (FDs) is a financial instrument which offers guaranteed return. Unlike stocks and mutual funds, fixed deposits offer assured returns as they are unaffected by market volatility, say experts. Financial institutions such as banks, post office, small finance banks and non-banking financial companies offer fixed deposit schemes. Customers can invest money in fixed deposits for a specific period, ranging from seven days to 10 years. Banks usually pay a higher rate of interest to senior citizens compared to general public on fixed deposit accounts.

Here's a comparison of fixed deposit (FD) interest rates paid by SBI, PNB, IndusInd Bank, HDFC Bank and ICICI Bank:

State Bank of India

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

Punjab National Bank

The following FD interest rates are applicable on deposits up to Rs. 2 crore with effect from May 1, 2019, according to pnbindia.in:

Period General public (% p.a.) Senior Citizen (% p.a.) 7 to 14 days 5.75 6.25 15 to 29 days 5.75 6.25 30 to 45 days 5.75 6.25 46 to 90 days 6.35 6.85 91 to 179 days 6.35 6.85 111 days 6.5 7 180 days to 270 Days 6.35 6.85 222 days 6.6 7.1 271 days to less than 1 year 6.35 6.85 333 days 6.95 7.45 1 year 7 7.5 555 days 6.85 7.35 above 1 year & up to 3 years 6.75 7.25 above 3 year & up to 5 years 6.25 6.75 above 5 years & up to 10 years 6.25 6.75

IndusInd Bank

The following FD interest rates are applicable on deposits below Rs. 2 crore according to indusind.com:

Period General public (% p.a.) 7 days to 14 days 3.75 15 days to 30 days 4.25 31 days to 45 days 5.75 46 days to 60 days 6 61 days to 90 days 6.25 91 days to 120 days 6.5 121 days to 180 days 6.75 181 days to 210 days 7 211 days to 269 days 7 270 days or below 1 years 7.25 1 Years to 1 Years 2 Months 7.6 Above 1 Years 2 Months to 1 Years 4 Months 7.6 Above 1 Years 4 Months to below 2 Years 7.75 2 years to below 2 years 6 Months 7.75 2 years 6 Months to below 2 years 9 Months 7.75 2 years 9 Months to below 3 years 7.75 3 years to below 61 month 7.35 61 month and above 7.25 Indus Tax Saver Scheme (5 years) 7.5

An additional interest rate of 0.50 per cent over and above the card rates is applicable for term deposits of senior citizens, according to the bank's website.

HDFC Bank