These interest rates are aligned with benchmark rates - set by the Reserve Bank of India (RBI) - from time to time. Interest Rate With Effect From September 7įive years tax-saver FD (maximum Rs 1.50 lakh) Three years and above but less than four yearsįour years and above but less than five years Interest Rate With Effect From September 23Ģ3 months and one day to less than two years Nine months one day to less than one year
Interest Rate (With Effect From August 25) Interest Rate With Effect From September 10 Here are the latest FD returns provided by the country's largest banks on retail fixed deposits: SBI Maturity Period This is why many traditional investors prefer guaranteed returns in fixed deposits over risky investments through equities and equity-related instruments such as mutual funds. Commercial lenders - from the likes of State Bank of India (SBI), HDFC Bank and Kotak Mahindra Bank - currently provide a slew of maturity options for retail fixed deposits, or fixed deposits of up to Rs 2 crore. Fixed deposits are investment instruments in which money is locked in for a pre-defined, 'fixed' period of time - say a year - for a guaranteed return. Fixed deposits at the country's top lenders currently fetch annual returns to the tune of 2.5-5.5 per cent for retail customers.
