Fixed Deposits – Fixed Deposits (FDs) in banks are a popular investment scheme not only among senior citizens, but also among investors who cannot take risk but are looking for guaranteed income.
Fixed Deposit (FD) has long been considered the preferred investment option. Generally people invest in FD to fulfill their financial goals like construction of house, buying a car, marriage and higher education etc. Apart from this, investing in FD helps in planning your retirement in a better way.
However, over-exposure in FDs is not good and you need to assess your asset allocation and goals to decide how much you should invest in them. Before choosing an FD, one should compare the interest rates. If you are also thinking of getting a fixed deposit in a bank, then we have come up with a list of banks that offer the highest FD rates for deposits up to ₹ 1 crore across various tenures.
Here is a comparison of interest rates offered by three leading banks – HDFC Bank, ICICI Bank and State Bank of India (SBI) on FDs above Rs 2 crore:
SBI Fixed Deposit Rate-
State Bank of India offers the following FD interest rates on deposits below Rs 2 crore
| Duration | Rate for general public | Rates for Senior Citizens |
| 7 days to 45 days | 3% | 3.5% |
| 46 days to 179 days | 3% | 3.5% |
| 180 days to 210 days | 3.1% | 3.6% |
| 211 days to 1 year | 3.1% | 3.6% |
| 1 year to 2 years | 3.1% | 3.6% |
| 2 years to 3 years | 3.1% | 3.6% |
| 3 years to 5 years | 3.1% | 3.6% |
| For 5 years and up to 10 years | 3.1% | 3.6% |
HDFC Bank Fixed Deposit Rates-
HDFC Bank offers the following FD interest rates on deposits above Rs 2 crore:
| Duration | Rate for general public | Rates for Senior Citizens |
| 7 – 14 days | 2.50% | 3.00% |
| 15 – 29 days | 2.50% | 3.00% |
| 30 – 45 days | 2.75% | 3.25% |
| 46 – 60 days | 2.75% | 3.25% |
| 61 – 90 days | 3.00% | 3.50% |
| 91 days – 6 months | 3.00% | 3.50% |
| 6 months 1 day – 9 months | 3.50% | 4.00% |
| 9 months 1 day < 1 year | 3.65% | 4.15% |
| for 1 year | 3.75% | 4.25% |
| 1 year 1 day – 2 years | 3.75% | 4.25% |
| 2 years 1 day – 3 years | 4.40% | 4.90% |
| 3 years 1 day – 5 years | 4.40% | 4.90% |
| 5 years 1 day – 10 years | 4.40% | 5.15% |
ICICI Bank Fixed Deposit Rate-
ICICI Bank offers the following FD interest rates on deposits above Rs 2 crore:
| Duration | rate for general public | Rates for Senior Citizens |
| 7 days to 14 days | 2.50% | 2.50% |
| 15 days to 29 days | 2.50% | 2.50% |
| 30 days to 45 days | 2.75% | 2.75% |
| 46 days to 60 days | 2.75% | 2.75% |
| 61 days to 90 days | 3.00% | 3.00% |
| 91 days to 120 days | 3.25% | 3.25% |
| 121 days to 150 days | 3.25% | 3.25% |
| 151 days to 184 days | 3.25% | 3.25% |
| 185 days to 210 days | 3.50% | 3.50% |
| 211 days to 270 days | 3.50% | 3.50% |
| 271 days to 289 days | 3.65% | 3.65% |
| For work from 290 days to 1 year | 3.65% | 3.65% |
| 1 year to 389 days | 4.00% | 4.00% |
| 390 days to < 15 months | 4.00% | 4.00% |
| 15 months to < 18 months | 4.10% | 4.10% |
| 18 months to 2 years | 4.25% | 4.25% |
| 2 years 1 day to 3 years | 4.50% | 4.50% |
| 3 years 1 day to 5 years
5 years 1 day to 10 years |
4.60% | 4.60% |
