Investments can multiply your money and fixed deposits (FDs) are one of the most trusted instruments for wealth creation. They are also known as term deposits (TDs). FD facility is being provided by banks, post offices and non-banking financial companies (NBFCs) to their customers. Bank FDs provide investors with a higher rate of interest than a regular savings account and recurring deposits. In a fixed deposit account, money is deposited for a specific period by the account holder. Most of the banks offer a maturity period ranging from seven days to 10 years for fixed deposits, depending upon the terms and conditions. 

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Top lenders such as State Bank of India (SBI), HDFC Bank and ICICI Bank, Axis Bank and others, offer fixed deposits facilties. Here is a detailed comparison of fixed deposit (FD) interest rates paid by SBI, HDFC Bank, ICICI Bank, Axis Bank and Yes Bank:  

ICICI Bank

Given below are the FD interest rates are applicable on deposits below Rs. 2 crore from March 7, 2019 according to icicibank.com: ICICI Bank offers minimum 4.00 per cent interest on the deposit for 7 to 14 days. While an FD for 5 to 10 years in the ICICI bank can fetch upto 7.25 per cent. 

Yes Bank

Given below are the FD interest rates are applicable on deposits below Rs. 2 crore from March 5, 2019 according to yesbank.in: Yes Bank offers minimum 5.00 per cent interest on the deposit for 7 to 45 days. While an FD for 5 to 10 years in the Yes Bank bank can fetch upto 7.50 per cent. 

Axis Bank

Given below are the FD interest rates are applicable on deposits below Rs. 2 crore from April 22, 2019 according to axisbank.com: Axis Bank offers minimum 3.50 per cent interest on the deposit for 7 to 29 days. While an FD for 5 to 10 years in the Axis bank can fetch upto 7.00 per cent. 

HDFC Bank

Given below are the FD interest rates are applicable on deposits below Rs. 2 crore from April 11, 2019, according to hdfcbank.com: HDFC Bank offers minimum 3.50 per cent interest on the deposit for 7 to 14 days. While an FD for 5 to 10 years in the HDFC bank can fetch upto 7.00 per cent. 

State Bank of India (SBI)

Given below are the FD interest rates are applicable on deposits below Rs. 2 crore with effect from February 22, 2019, according to sbi.co.in: SBI Bank offers minimum 6.25 per cent interest on the deposit for 7 to 45 days. While an FD for 5 to 10 years in the SBI bank can fetch upto 7.35 per cent. 

(NOTE: The above-mentioned rates are as per the description given on the official websites of the respective banks and are subject to change. The readers can log on to the official web portals of the banks to know more about fixed deposits interest rates offered.)