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SBI vs ICICI vs Axis vs HDFC Bank vs Post Office: Revised ROI On FD Compared

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A fixed deposit, also known as an FD, is a form of investment option marketed by banks, non-banking finance companies (NBFCs), and post office. FDs allow you to invest for a set period of time and receive a fixed rate interest rate upon maturity. Bank fixed deposit (FD) rates are influenced by adjustments in the Reserve Bank of India's (RBI) monetary policy, such as repo rates, base rates, etc, as well as the banks' internal liquidity status, economic circumstances, and the rate of credit demand. Lenders such as State Bank of India (SBI), ICICI Bank, HDFC Bank, and Axis Bank provide FDs with terms ranging from 7 days to 10 years. And apart from banks, FD deposits with the Post Office can be a decent place to proceed. Rates on Post Office Time Deposits are revised quarterly. Fixed deposits (FDs) are perceived to be the ideal investment alternative for individuals looking for stable and guaranteed returns on their deposits. Different banks' FD interest rates vary depending on the deposit amount, deposit tenure, and type of investor i.e. regular or senior citizen. The current FD interest rates of Axis Bank, SBI, HDFC Bank, ICICI Bank, and Post Office are listed below.

SBI FD Rates

SBI FD Rates

SBI FD offers 2.9 per cent interest rates on terms ranging from 7 to 45 days. It will offer 3.9 per cent on term deposits ranging from 46 to 179 days. FDs with maturity ranging from 180 days to less than one year will offer a 4.4 per cent interest rate. FDs maturing in two to three years will yield 5.1 per cent. FDs maturing in 3 to 5 years will provide 5.3 per cent, while term deposits maturing in 5 to 10 years will continue to provide 5.4 per cent. These rates are in effect from January 8, 2020.

Tenure ROI for general public ROI for senior citizens
7 days to 45 days 2.90% 3.40%
46 days to 179 days 3.90% 4.40%
180 days to 210 days 4.40% 4.90%
211 days to less than 1 year 4.40% 4.90%
1 year to less than 2 years 5.00% 5.50%
2 years to less than 3 years 5.10% 5.60%
3 years to less than 5 years 5.30% 5.80%
5 years and up to 10 years 5.40% 6.20%
Axis Bank FD Rates
 

Axis Bank FD Rates

Axis Bank, a private sector lender, has updated interest rates on fixed deposits (FDs) with effect from March 24. Following the most recent revision, Axis Bank now offers interest rates ranging from 2.50 per cent to 5.75 per cent on term deposits maturing in 7 days to 10 years.

Tenure ROI in % for general public ROI in % for senior citizens
7 days to 14 days 2.5 2.5
15 days to 29 days 2.5 2.5
30 days to 45 days 3 3
46 days to 60 days 3 3
61 days < 3 months 3 3
3 months < 4 months 3.5 3.5
4 months < 5 months 3.5 3.5
5 months < 6 months 3.5 3.5
6 months < 7 months 4.4 4.65
7 months < 8 months 4.4 4.65
8 months < 9 months 4.4 4.65
9 months < 10 months 4.4 4.65
10 months < 11 months 4.4 4.65
11 months < 11 months 25 days 4.4 4.65
11 months 25 days < 1 year 5.15 5.4
1 year < 1 year 5 days 5.15 5.8
1 year 5 days < 1 year 11 days 5.1 5.75
1 year 11 days < 1 year 25 days 5.1 5.75
1 year 25 days < 13 months 5.1 5.75
13 months < 14 months 5.1 5.75
14 months < 15 months 5.1 5.75
15 months < 16 months 5.1 5.75
16 months < 17 months 5.1 5.75
17 months < 18 months 5.1 5.75
18 Months < 2 years 5.25 5.9
2 years < 30 months 5.4 6.05
30 months < 3 years 5.4 5.9
3 years < 5 years 5.4 5.9
5 years to 10 years 5.75 6.5
HDFC Bank FD Rates

HDFC Bank FD Rates

On deposits maturing between 7 days and 10 years, the bank provides interest rates ranging from 2.50 per cent to 5.50 per cent. Senior citizens will get interest rates that are 50 basis points higher than the general public. Senior citizens can earn interest rates ranging from 3% to 6.25 per cent on FDs maturing in 7 days to 10 years from the bank. These rates are in effect from 13 November 2020.

Tenure ROI in % for general public ROI in % for senior citizens
7 - 14 days 2.50% 3.00%
15 - 29 days 2.50% 3.00%
30 - 45 days 3.00% 3.50%
46 - 60 days 3.00% 3.50%
61 - 90 days 3.00% 3.50%
91 days - 6 months 3.50% 4.00%
6 months 1 days - 9 months 4.40% 4.90%
9 months 1 day < 1 Year 4.40% 4.90%
1 Year 4.90% 5.40%
1 year 1 day - 2 years 4.90% 5.40%
2 years 1 day - 3 years 5.15% 5.65%
3 year 1 day- 5 years 5.30% 5.80%
5 years 1 day - 10 years 5.50% 6.25%
ICICI Bank FD Rates

ICICI Bank FD Rates

On deposits maturing in 7 days to 10 years, ICICI Bank offers interest rates ranging from 2.5 per cent to 5.50 per cent. Senior citizens can get an interest rate that is 50 basis points (bps) higher than regular customers. These rates are in force from 21 October 2020.

Tenure ROI in % for general public ROI in % for senior citizens
7 days to 14 days 2.50% 3.00%
15 days to 29 days 2.50% 3.00%
30 days to 45 days 3.00% 3.50%
46 days to 60 days 3.00% 3.50%
61 days to 90 days 3.00% 3.50%
91 days to 120 days 3.50% 4.00%
121 days to 184 days 3.50% 4.00%
185 days to 210 days 4.40% 4.90%
211 days to 270 days 4.40% 4.90%
271 days to 289 days 4.40% 4.90%
290 days to less than 1 year 4.40% 4.90%
1 year to 389 days 4.90% 5.40%
390 days to < 18 months 4.90% 5.40%
18 months days to 2 years 5.00% 5.50%
2 years 1 day to 3 years 5.15% 5.65%
3 years 1 day to 5 years 5.35% 5.85%
5 years 1 day to 10 years 5.50% 6.30%
5 Years (80C FD) 5.35% 5.85%
Post Office Fixed Deposit

Post Office Fixed Deposit

The post office term deposit scheme is similar to bank FDs. This scheme comes with a tenure ranging from 1 to 5 years. The Post Office provides a 5.5 percent interest rate on one-year and three-year period deposits. For five-year time deposit accounts, the Post Office provides a 6.7 percent interest rate. Post Office term deposit interest rates are revised on a quarterly basis and the current rates are last revised on April 1, 2021.

Tenure ROI in %
1 year 5.50%
2 years 5.50%
3 years 5.50%
5 years 6.70%
Read more about: fd fixed deposit investment
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