Trust on the most favourite investment product of Indian households
Capital Tree helps you with the best fixed deposit schemes. In Lucknow, we provide you consolidated details of the best schemes of 2021.
What is a Fixed Deposit?
The fixed deposit allows the investor to deposit a fixed amount for a specified time period, at the present interest rates. The fixed deposit helps your principal amount grow due to the compounding interest and provides much higher returns on maturity.
Advantages of Fixed Deposit
- Flexible Tenure
- Guaranteed Returns
- Better than a savings bank account
- Emergency Friendly
Capital Tree can help you in choosing the most beneficial fixed deposit schemes that are available in the market.
Fixed Deposit Interest Rates 2021
In 2021, everyone holds a different opinion when it comes to their money-saving strategies. The saving instrument differs based on their income, the affordable amount which can be saved, the purpose for which they save the money, and the time frame in which they are in. Let’s take a look at few interesting questions about fixed deposits to give you a brief about them.
- Fixed Deposit Schemes are popular because they do not depend on market fluctuations and offers a fixed interest at the time of scheme maturity.
- Fixed Deposit investment tenure ranges from seven days up to ten years, and it differs from bank to bank.
- The return on investment(ROI) is compounded periodically i.e. it may be monthly, quarterly, or annually.
- Senior citizens get 0.5% more returns than regular customers.
- Partial and premature withdrawals may be permitted with penalties.
- Taxpayers can also invest in tax-saving FD schemes under Section 80C of the Income Tax Act, 1961, to save taxes.
- Upon FD account maturity, investors can reinvest the sum for another term.
- You can take Loan against FDs.
- Safety: Fixed Deposits are safe with a maximum compensation of Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC) with effect from 4 February 2020.
- Tax Benefit: With a minimum lock-in period of five years, you can get a tax deduction under Section 80C of up to Rs.1.5 lakh when you make an investment on a tax-saver FD scheme.
- Saving Habit: FD teaches an important financial lesson to you—saving. This will help you change excessive spending on unnecessary things. Once you get the taste of saving , you will save more funds.
- Guaranteed Returns: Many financial instruments give out varied returns based on the market fluctuations, which is not advisable to everybody. FD account assures principal amount and an interest both.
SBI Interest Rates
The State Bank of India has fixed deposit schemes ranging from 2.90% – 5.40%. With SBI fd schemes, you can start with a minimum of ₹1000 up to ₹1 Cr. For senior citizens, the interest rate goes up to 6.20%. One important benefit of this scheme is that you can get a loan of up to 90% of the FD’s outstanding amount. The interest of the loan varies from 5.5% – 7.1%. Here are the SBI Bank Fixed Deposit Rates 2021:
| Tenure | General Public FD Rate | Senior Citizen FD Rate |
|---|---|---|
|
7 - 45 days |
2.90% |
3.40% |
|
46 - 179 days |
3.90% |
4.40% |
|
180 - upto 1 yr |
4.40% |
4.90% |
|
1 yr - upto 2 yrs |
5.00% |
5.50% |
|
2 yrs - upto 3 yrs |
5.10% |
5.60% |
|
3 yrs - upto 5 yrs |
5.30% |
5.80% |
|
5 - 10 yrs |
5.40% |
6.20% |
HDFC Ltd. Interest Rates
SPECIAL DEPOSITS (Fixed Rates)Deposits upto ₹2 crore (p.a.)
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
|
33 Months |
5.65% |
5.70% |
5.75% |
5.85% |
5.85% |
|
66 Months |
6.05% |
6.10% |
6.15% |
6.25% |
6.25% |
PREMIUM DEPOSITS (Fixed Rates)Deposits upto ₹2 crore (p.a.)
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
|
15 Months |
5.50% |
5.55% |
5.60% |
- |
5.70% |
|
22 Months |
5.60% |
5.65% |
5.70% |
5.80% |
5.80% |
|
30 Months |
5.55% |
5.60% |
5.65% |
5.75% |
5.75% |
|
44 Months |
5.90% |
5.95% |
6.00% |
6.10% |
6.10% |
REGULAR DEPOSITS (Fixed & Variable Rates)Deposits upto ₹2 crore (p.a.)
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
|
12-23 Months |
5.45% |
5.50% |
5.55% |
- |
5.65% |
|
24-35 Months |
5.45% |
5.50% |
5.55% |
5.65% |
5.65% |
|
36-59 Months |
5.75% |
5.80% |
5.85% |
5.95% |
5.95% |
|
60-84 Months |
5.85% |
5.90% |
5.95% |
6.05% |
6.05% |
|
Minimum Amount (₹) |
₹40,000 |
₹20,000 |
₹20,000 |
₹20,000 |
₹20,000 |
Senior Citizens : Additional interest @ 0.25% p.a. on all tenors
PNB Housing FD Interest Rates
Fixed Deposit Interest Rates (upto ₹5 crore)
| Tenure (Months) | Cumulative Option* ROI (p.a.) | Non-Cumulative Option ROI (p.a.) | ||||
|---|---|---|---|---|---|---|
|
|
ROI (p.a.) |
Tentative yield to maturity |
Monthly |
Quarterly |
Half Yearly |
Annual |
|
12 - 23 |
5.90% |
5.90% |
5.74% |
5.77% |
5.81% |
5.90% |
|
24 - 35 |
6.15% |
6.34% |
5.98% |
6.01% |
6.05% |
6.15% |
|
36 - 47 |
6.60% |
7.05% |
6.40% |
6.44% |
6.49% |
6.60% |
|
48 - 59 |
6.60% |
7.28% |
6.40% |
6.44% |
6.49% |
6.60% |
|
60 - 71 |
6.70% |
7.66% |
6.50% |
6.53% |
6.59% |
6.70% |
|
72 - 84 |
6.70% |
7.93% |
6.50% |
6.53% |
6.59% |
6.70% |
|
120 |
6.70% |
9.13% |
6.50% |
6.53% |
6.59% |
6.70% |
Senior Citizens : Additional interest @ 0.25% p.a. on all tenors
Bajaj Finserv FD Interest Rates
New Card rate (Effective 01st Feb'21)
Our New rates are as under:
For new customers:
| Tenor in months | Minimum Deposit (in Rs.) | Cumulative | Non - Cumulative | |||
|---|---|---|---|---|---|---|
|
|
|
|
Monthly |
Quarterly |
Half Yearly |
Annual |
|
12 - 23 |
|
6.15% |
5.98% |
6.01% |
6.06% |
6.15% |
|
24 - 35 |
25,000 |
6.60% |
6.41% |
6.44% |
6.49% |
6.60% |
|
36 - 60 |
|
7.00% |
6.79% |
6.82% |
6.88% |
7.00% |
For Senior citizens (upto 0.25% above the card rate)
| Tenor in months | Minimum Deposit (in Rs.) | Cumulative | Non - Cumulative | |||
|---|---|---|---|---|---|---|
|
|
|
|
Monthly |
Quarterly |
Half Yearly |
Annual |
|
12 - 23 |
|
6.40% |
6.22% |
6.25% |
6.30% |
6.40% |
|
24 - 35 |
25,000 |
6.85% |
6.64% |
6.68% |
6.74% |
6.85% |
|
36 - 60 |
|
7.25% |
7.02% |
7.06% |
7.12% |
7.25% |
LIC Housing Finance FD Interest Rates
| TERM | INTEREST RATE P.A. FOR MONTHLY OPTION | INTEREST RATE P.A. FOR YEARLY OPTION | ON MATURITY UNDER CUMULATIVE SCHEME |
|---|---|---|---|
|
|
Non-Cumulative Deposits |
Cumulative & Non-Cumulative Deposits |
₹ 20,000/- will Become |
|
1 YEAR |
5.50% |
5.65% |
₹ 21,130/- |
|
18 MONTHS |
5.50% |
5.65% |
₹ 21,727/- |
|
2 YEARS |
5.50% |
5.65% |
₹ 22,324/- |
|
3 YEARS |
5.60% |
5.75% |
₹ 23,652/- |
|
5 YEARS |
5.60% |
5.75% |
₹ 26,450/- |
Senior Citizens : Additional interest @ 0.25% p.a. on all tenors