SBI vs Canara vs Kotak vs Yes Bank: Check Current Interest Rates On FD Here

Updated: Monday, March 8, 2021, 18:32 [IST]

Investing in fixed deposits, which not only allow you to save capital but also generate a substantial return on it, is one of the safest ways to secure your investment or deposit. Bank FD interest rates are attractive, allowing depositors to earn a decent return on the investment for a set period of time. The depositor only deposits money into a fixed deposit account once, once the account is opened. The interest rate you get is determined by the bank, the amount you deposit, and the span you selected. Fixed deposits offer not only stable interest rates, but also additional interest rates to senior citizens, different interest payout options, no market-linked returns and tax benefits. Before opening a new fixed deposit or renewing a current one, it is essential to evaluate the latest fixed deposit rates offered by the country's leading banks. Below are the four major Indian banks that are currently offering higher interest rates (for an amount less than Rs 2 Cr) to the general public and senior citizens for terms ranging from seven days to ten years.

SBI Fixed Deposit Rates

Tenure of SBI FD ranges from 7 days to 10 years for both general public and senior citizens. For general customers, SBI FD interest rates range from 2.9 percent to 5.4 percent. Whereas for the same tenure the rates are capped between 3.4 per cent to 6.2 per cent for senior citizens. From January 8-2021, these rates are in force.

Tenors	ROI in % for general public	ROI in % for senior citizens
7 days to 45 days	2.9	3.4
46 days to 179 days	3.9	4.4
180 days to 210 days	4.4	4.9
211 days to less than 1 year	4.4	4.9
1 year to less than 2 year	5	5.5
2 years to less than 3 years	5.1	5.6
3 years to less than 5 years	5.3	5.8
5 years and up to 10 years	5.4	6.2

Yes Bank FD Rates

Regular and senior citizens can take advantage of a variety of fixed deposit (FD) schemes offered by Yes Bank. Regular customers at Yes Bank can earn interest rates ranging from 3.50 per cent to 6.75 per cent on deposits maturing in seven days to ten years. On February 8, 2021, the Bank changed the interest rate on its term deposits.

Tenure	ROI for regular public	ROI for senior citizens
7 to 14 days	3.50%	4.00%
15 to 45 days	4.00%	4.50%
46 to 90 days	4.50%	5.00%
3 months to < 6 months	5.00%	5.50%
6 months to < 9 months	5.50%	6.00%
9 months to < 1 Year	5.75%	6.25%
1 years < 2 years	6.25%	6.75%
2 years < 3 years	6.50%	7.00%
3 Years to <= 10 years	6.75%	7.50%

Kotak Mahindra Bank FD Rates

Interest rates on Kotak Mahindra Bank FD vary from 2.50 per cent to 5.25 per cent depending on the tenure. These rates are in effect from February 4-2021, respectively.

Tenure	Rate of interest
7 - 14 Days	2.50%
15 - 30 Days	2.50%
31 - 45 Days	2.75%
46 - 60 Days	3.00%
61 - 90 Days	3.00%
91 - 120 Days	3.00%
121 - 179 Days	3.00%
180 Days	3.75%
181 Days to 270 Days	3.75%
271 Days to 279 Days	2.90%
280 Days to Less than 12 Months	3.80%
12 months - less than 15 months	4.00%
15 months - less than 18 months	4.00%
18 months - less than 2 Years	4.50%
2 years and above but less than 3 years	4.75%
3 years and above but less than 4 years	5.00%
4 years and above but less than 5 years	5.00%
5 years and above up to & inclusive of 7 years	5.00%

Canara Bank FD Rates

Canara Bank offers interest rates ranging from 2.95 per cent to 5.5 per cent on FDs with tenure ranging from seven days to ten years. With effect from February 8, 2021, Canara Bank has revised interest rates on deposits of less than Rs 2 crore.

Tenure	ROI for general public	ROI for senior citizens
7 days to 45 days	2.95	2.95
46 days to 90 days	3.9	3.9
91 days to 179 days	4	4
180 days to less than 1 Year	4.45	4.95
1 year only	5.2	5.7
Above 1 year to less than 2 years	5.2	5.7
2 years & above to less than 3 years	5.4	5.9
3 years & above to less than 5 years	5.5	6
5 years & above to 10 Years	5.5	6