Fixed Deposit interest rates 2019: The new year is finally here. The Fixed Deposit rates offered by various public and private sector lenders are expected to undergo a sea of change in the coming months if the Reserve Bank of India decides to make changes to the repo rate, which is the rate at which the central bank lends to the banks. Find below the 1 and 3 year FD plan rates offered by SBI, Post Office, HDFC, Axis, ICICI, PNB, OBC, PNB, Bank of Baroda:
1/8Post Office currently offers 7% interest on Time Deposits of 1 and 3 years. The Post Office now offers 7.0% interest on 1 year Time Deposit. This is compounded quarterly. The interest rate on this account offered earlier was 6.9%. The interest rate on 3 year Time Deposit scheme has been reduced to 7% from 7.2 per cent earlier. (Reuters)
2/8The State Bank of India (SBI) offers 6.4% interest rate to deposits below Rs 1 crore for 211 days to less than 1 year. For 180-210 days, it is 6.35%; 6.25% for 46 to 179 days and 5.75% for 7 to 45 days. On FDs of two years to less than three years, SBI offers 6.8% interest rate. For senior citizens, the rates are 0.5% higher. (Reuters)
3/8On deposits below Rs 5 crore, HDFC offers 7.4% interest rate on FDs for 2 years 17 days to three years. On several plans starting from 7-14 days to 1 year, HDFC offers up to 7.3% interest rate. For senior citizens, the rates 0.5% higher. (Reuters)
4/8Axis Bank offers 7.1% on FDs for 9 months to 364 days. For senior citizens, the interest rate on this plan is 7.35%. On FDs for two to three years, Axis bank offers 7.5% interest rate. (Reuters)
5/8ICICI Bank offers 6.75% interest on FDs for 290 days to 1 year and 7.5% for investment up to three years in FD with premature withdrawal facility. The rates are 0.55 higher for senior citizens. In FD with no premature withdrawal facility, the rates are 7.7% on deposits for 331 days to 1 year; 7.6% on deposits for 2 to 3 years. (Reuters)
6/8Punjab National Bank offers 6.75% interest on deposits for 1 to 3 years. For deposits up to 1 year, PNB offers up to 6.75 % interest rate. All rates are 0.5% higher for senior citizens. (Reuters)
7/8OBC offers 6.5% on FDs for 270 to less than 1 year FDs. The rate is 6.7% on deposits for two to three years. (PTI)
8/8Bank of Baroda offers 6.7% interest on 1-year FD below Rs 1 crore. For 3-year FD, the rate offered is the same at 6.7%. (Reuters)