ICICI Bank offers an interest rate of 7% to general customers and 7.5 % to senior citizens on FDs with maturity between five years and 10 years. Senior citizens get 50 basis points extra on these deposits.
The bank is offering an interest rate of 7% on tax-saving FDs. HDFC Bank offers fixed deposits of maturity of up to 10 years. HDFC Bank allows the opening of tax-saving deposits with a minimum amount of ₹ 100. The minimum deposit in an SBI income tax saving FD is ₹1,000 and in multiples thereof whereas the maximum deposit should not exceed ₹1,50,000 in a year. SBI offers an interest rate of 6.5% for general customers and 7% for senior citizens on its tax-saving FDs.
