Fixed Deposit Rate of Vijaya Bank

Tenure Interest Rates for Regular Deposit Interest Rates for Senior Citizen
7 days to 29 days 4.00% 4.50%
30 days to 45 days 4.00% 4.50%
46 days to 60 days 4.50% 5.00%
61 days to 90 days 4.50% 5.00%
91 days to 180 days 5.25% 5.75%
181 days to 269 days 6.25% 6.75%
270 days to 364 days 6.25% 6.75%
1 year to 5 years 6.50% 7.00%
5 years 1 day to 10 years 6.25% 6.75%

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Some Facts about Fixed Deposit Accounts in India

When you open a fixed deposit account in India, you secure a certain amount of money for a certain number of years to earn interest. A few companies also provide this facility, but it is always wise to choose the bank.

The Vijaya Bank FD rates or the interest rate of every other bank in India is predetermined. Here are a few facts about fixed deposit that an investor must be aware of.

  1. Tax Deductions

A Vijaya Bank Fixed Deposit Scheme or a deposit account in any other bank in India amounting up to Rs 1 lakh for five-year tenure is eligible for a deduction of Taxes under Section 80 C. For investors looking at small investments with tax redemption, a fixed deposit in Vijaya Bank or any other bank is appropriate.

  1. FD interest rates and tax amount

FD interest rates in Vijaya Bank or any other bank in India is tax adjusted. It does not mean that that the interest rate on FD in Vijaya Bank or any other bank in India is tax-free. The interest rate is taxable, and the investor pays according to the tax slab his principal amount belongs to.

Income from the fixed deposit amounting to up to Rs 10,000 is free from tax deductions.

Fixed deposit rates in Vijaya Bank and every other bank in India is higher by a small percentage for senior citizens. A re-investment every year can earn the investor compound interest.

For individuals looking at safety as a top priority when it comes to investments, a fixed deposit account is a perfect choice.

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