Comparison of Highest FD Rates: PNB Vs Axis Bank Vs SBI Vs HDFC Bank Vs ICICI Bank

Fixed deposits (FDs) are a popular investment option for individuals seeking a safe and stable return on their savings. When choosing a bank for your FD, it is important to consider the interest rates offered, as they directly impact your earnings. In this article, we compare the highest FD interest rates offered by State Bank of India (SBI), HDFC Bank, ICICI Bank, Bank of Baroda (BoB), Axis Bank, and Punjab National Bank (PNB), helping you make an informed decision regarding your investment.

Punjab National Bank FD rates

PNB has raised fixed deposit interest rates for regular individuals, senior citizens, and super senior citizens on sums less than Rs 2 crore. The bank is offering a 45 basis point interest rate on 444 days tenor but a 20 basis point interest rate on 666 days tenor. PNB is now giving a maximum interest rate of 7.25% for the general public, 7.75% for senior people, and 8.05% for super senior citizens on a tenor of 444 days.

Senior citizens aged 60 to 80 years will receive an extra rate of interest of 50 basis points over applicable card rates for up to 5 years and 80 basis points for periods longer than 5 years on domestic deposits of less than Rs. 2 crore. Furthermore, Super Senior Citizens aged 80 and up will receive an additional rate of interest of 80 bps over the applicable card rate across all maturity buckets.

Axis Bank FD rates

The bank now offers a 3.50% fixed deposit interest rate for deposits maturing in 7 to 45 days and a 4.00% fixed deposit interest rate for deposits maturing in 46 to 60 days. Axis Bank is presently giving 4.50% and 4.75% interest rates on deposits with maturities ranging from 61 days to three months and three months to six months, respectively. Deposits maturing in 6 to 9 months will earn 5.75% interest, while deposits maturing in 9 months to less than a year will earn 6.00% interest.

Fixed deposits maturing in one year to one year four days have been reduced by 5 basis points to 6.75%; deposits maturing in one year 5 days to less than 13 months have been reduced by 20 basis points to 6.80% from 7.10%. The bank will now provide 7.10% on deposits of 13 months or less than two years, up from 7.15% previously. The interest rate was cut from 7.20% to 7.05% for terms of 2 years to less than 30 months and other tenures will earn a 7% interest rate. Axis Bank now offers interest rates ranging from 3.5% to 7.10% on terms ranging from 7 days to 10 years.

SBI FD rates

State Bank of India (SBI) provides a wide range of interest rates for general citizens on fixed deposits (FDs) with tenures ranging from 7 days to 10 years, for amounts below Rs 2 crore. The interest rates offered by SBI range from 3% to 7.10%. Among these rates, the highest interest rate of 7.10% is applicable to a specific tenure of 400 days on deposits made through the Amrit Kalash scheme. It is important to note that the 7.10% interest rate on Amrit Kalash deposits is valid until June 30, 2023. These revised rates have been in effect since February 15, 2023.

HDFC Bank FD rates

The bank is now offering fresh interest rates of 7% or higher on all deposits maturing between 18 months and 10 years. Currently, the bank is offering ordinary clients interest rates ranging from 3% to 7.5% on deposits maturing in 7 days to 10 years. Senior folks, on the other hand, will earn interest rates ranging from 3.5 percent to 7.75 percent on the same deposits. These prices will take effect on May 29, 2023.

ICICI Bank FD rates

ICICI Bank provides a range of interest rates from 3% to 7.10% for general citizens on fixed deposits with tenures spanning from 7 days to 10 years, for amounts below Rs 2 crore. The bank offers the highest interest rate of 7.10% specifically for a tenure of 15 months to less than 18 months. These rates have been effective since February 24, 2023.