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SBI Vs HDFC Vs ICICI Vs Axis Vs PNB: FD Rates Compared For General Public

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Top banks such as the State Bank of India (SBI), HDFC Bank, Punjab National Bank (PNB), ICICI Bank and Axis Bank provide fixed deposits for periods ranging from 7 days to 10 years (FDs). It is often essential to measure the FD interest rates provided by different banks before parking your capital. The interest rates on term deposits were updated by the SBI and Axis Bank this month. Below are the current interest rates of SBI, ICICI Bank, HDFC Bank, PNB and Axis Bank on their FDs, which you need to consider before finalizing one.

SBI FD Rates (for amount below Rs 2 Cr)
 

SBI FD Rates (for amount below Rs 2 Cr)

SBI FDs will now offer 2.9 percent interest for the maturity period between seven and 45 days. Term deposits will yield 3.9 percent between 46 days and 179 days. FDs will deliver 4.4 percent over 180 days to less than one year. There will now be 10 bps higher for deposits with maturity period from 1 year and up to less than 2 years. So instead 4.9%, these deposits will offer an interest rate of 5 percent and 5.1 percent will be given by FDs maturing in 2 years or less than 3 years. FDs of 3 years or less than 5 years will deliver 5.3 percent and term deposits maturing in 5 years and up to 10 years will continue to provide 5.4 percent after the new adjustment which is effective January 8, 2021.

Tenure ROI in % per annum
7 days to 45 days 2.90
46 days to 179 days 3.90
180 days to 210 days 4.40
211 days to less than 1 year 4.40
1 year to less than 2 years 5.00
2 years to less than 3 years 5.10
3 years to less than 5 years 5.30
5 years and up to 10 years 5.40
Axis Bank FD Rates (for amount below Rs 2 Cr)

Axis Bank FD Rates (for amount below Rs 2 Cr)

Axis Bank provides FDs ranging from 7 days to 10 years throughout different tenures. For the general public, the bank offers interest on FDs ranging from 2.5 percent to 5.50 percent. Axis Bank provides a higher interest rate to senior citizens on different maturities. The bank gives returns to senior citizens ranging from 2.50 percent to 6 percent. The new interest rates of this ban are in effect from January 4, 2021.

Tenure ROI in % per annum
7 days to 29 days 2.50
30 days to 90 days 3.00
90 days to 120 days 3.50
120 days to 180 days 3.75
180 days to 360 days 4.40
2 years to less than 3 years 5.40
3 years to less than 5 years 5.40
5 years and up to 10 years 5.50
Punjab National Bank FD Rates (for amount below Rs 2 Cr)

Punjab National Bank FD Rates (for amount below Rs 2 Cr)

PNB is promising an interest rate of between 3 percent and 5.30 percent on fixed deposits maturing in the period of 7 days to 10 years. PNB proposes an interest rate of 3% on 7-45 days fixed deposits, and for a period of less than 1 year the interest rate goes up to 4.5 per cent. For a maturity period of one year to less than three years the bank promises an interest rate of 5.20 percent on term deposits. PNB is promising a 5.30 percent return on deposits maturing from 5 years to 10 years. When it comes to senior citizens they will get an additional interest rate of 50 bps above the available rates to the general public across all maturity periods for a deposit amount of less than Rs 2 Cr. The current interest rates of PNB on FDs are valid from January 1, 2021.

Tenure ROI in % per annum
7 days to 45 days 3.00
46 days to 90 days 3.25
91 days to 179 days 4.00
180 days to 270 days 4.40
271 days to less than 1 year 4.50
1 Year to 3 years 5.20
3 years to 5 years 5.30
5 years and up to 10 years 5.30
HDFC Bank FD Rates (for amount below Rs 2 Cr)

HDFC Bank FD Rates (for amount below Rs 2 Cr)

HDFC Bank pays a 2.50 percent interest rate on deposits between 7 days and 29 days. On deposits maturing in 30-90 days the interest rate is 3 per cent. 3.5 per cent on 91 days to 6 months and 4.4 per cent on 6 months on 1 day to less than one year FD. On FDs maturing in one year, the bank provides 4.9 percent interest rate. An interest rate of 4.9 percent can be earned on term deposits maturing in one year and two years. 5.15 percent will be offered by FDs maturing in 2 years to 3 years, 5.30 percent on 3 years to 5 years. There will be 5.50 percent interest on deposits for a maturity period of 5 years to 10 years. With effective from Nov 13, 2020 the interest rates are applicable.

Tenure ROI in % per annum
7 days to 29 days 2.50
30 days to 90 days 3.00
91 days to 179 days 3.50
180 days to 365 days 4.40
365 days to less than 2 years 4.90
2 years to 3 years 5.15
3 years to 5 years 5.30
5 years and up to 10 years 5.50
ICICI Bank FD Rates (for amount below Rs 2 Cr)

ICICI Bank FD Rates (for amount below Rs 2 Cr)

For a maturity period of 7 days to 29 days and 30 days to 90 days ICICI Bank provides an interest rate of 2.5 per cent and 3 per cent respectively. For FDs maturing within 91 days to 184 days, 3.5 percent. ICICI Bank offers an interest rate of 4.40 percent on deposits maturing in 185 days to less than 1 year. An interest rate of 4.9 per cent is provided on term deposits maturing in 1 year or less than 18 months. Currently, you will be provided 5 percent interest on tenure spanning 18 months to 2 years. The interest of 5.15 per cent, 5.35 percent and 5.50 per cent is provided by the bank on FDs maturing between 2 years to 3 years, 3 years to 5 years and 5 years to 10 years.

Tenure ROI in % per annum
7 days to 29 days 2.5
30 days to 90 days 3
91 days to 184 days 3.5
185 days to 365 days 4.4
1 year to less than 1.5 years 4.9
2 years to 3 years 5.15
3 years to 5 years 5.35
5 years and up to 10 years 5.5
Read more about: fd fixed deposit
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