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SBI Vs IDFC Vs Kotak Vs Axis Vs ICICI Vs HDFC: Check Revised Rates On FD Here
A Fixed Deposit secures an amount of money for the duration of the deposit. Banks offer depositors the option of investing their money for periods ranging from seven days to ten years against which the concerned bank credits the depositor with the principal and interest amount on the maturity date. It is a financial investment instrument provided by banks and non-banking financial companies (NBFCs), corporates and small finance banks in which investors can deposit money according to their financial goal and earn a higher rate of interest than a savings account against their deposit. Before parking your money in any FD account, it's always a good idea to analyze the FD interest rates provided by different banks and understand the reasons to invest in a fixed deposit. Let's take a look at what the India's leading banks are currently offering on their FDs after the most recent revision.
SBI Fixed Deposit
SBI FDs with maturities ranging from 7 to 45 days will yield 2.9 percent. Term deposits with a maturity period of 46 to 179 days will yield 3.9 percent. FDs with maturities ranging from 180 days to less than one year will yield 4.4 percent. Deposits with a maturity period of one year or less than two years can now give you 10 basis points more. The interest rate on these deposits will be 5% after the most recent revision. FDs maturing in two to three years will yield 5.1 percent. FDs with maturities of three to five years will pay 5.3 percent, while term deposits with maturities of five to ten years will pay 5.4 percent. SBI provides senior citizens with an additional 50 basis point interest rate higher than the general public across all the tenors. Senior citizens will get 3.4 percent to 6.2 percent on FDs maturing in 7 days to 10 years after the most recent adjustment. From January 8, 2021, these rates are in force for below Rs 2 Cr.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 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 |
| Source: SBI |
IDFC First Bank Fixed Deposit
With effect from May 1, IDFC First Bank has changed its fixed deposit interest rates. IDFC First Bank offers short-term FDs ranging from seven days to one year, as well as long-term FDs ranging from one to ten years. After the most recent revision, IDFC First Bank proposes interest rates ranging from 2.75 percent per annum to 6 percent per annum on deposits with terms ranging from seven days to ten years. On FDs with terms of seven to fourteen days, IDFC First Bank offers 2.75 percent interest. For 15-29 days, the bank provides a 3.50 percent interest rate, and for 30-45 days, the bank proposes a 3 percent interest rate. Deposits maturing in 46-90 days will now give you 4.00 percent, and deposits maturing in 91-180 days will provide 4.50 percent. For term deposits with a one- or two-year maturity period, the bank offers 5.50 percent. IDFC First Bank also provides 5.75 percent over a period of two years, one day, and three years. IDFC First Bank's long-term deposit interest rates vary from 6% to 5.75 percent for 3 to 5-year deposits and 6% to 5.75 percent for 5 to 10 year deposits. These rates are in force from May 1 2021.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 - 14 days | 2.75% | 3.25% |
| 15 - 29 days | 3.00% | 3.50% |
| 30 - 45 days | 3.50% | 4.00% |
| 46 - 90 days | 4.00% | 4.50% |
| 91 - 180 days | 4.50% | 5.00% |
| 181 days - less than 1 year | 5.25% | 5.75% |
| 1 year - 2 years | 5.50% | 6.00% |
| 2 years 1 day - 3 years | 5.75% | 6.25% |
| 3 years 1 day - 5 years | 6.00% | 6.50% |
| 5 years 1 day - 10 years | 5.75% | 6.25% |
| Source: IDFC First Bank |
Kotak Mahindra Bank Fixed Deposit
After the most recent revision, Kotak Mahindra Bank provides interest rates of 2.5 percent, 2.75 percent, and 3.25 percent for FDs maturing in 7 to 30 days, 31 to 90 days, and 91 to 179 days, respectively. Kotak Mahindra Bank pays 4.40 percent interest on term deposits that mature in 180 days or less than a year. The bank offers 4.50 percent on deposits for a maturity period of one year to 389 days. The bank will offer 4.80 percent on FDs maturing in 390 days to less than 23 months. Kotak Mahindra Bank will now provide a 5% interest rate on deposits maturing in 23 months or less than 3 years. The bank will offer 5.10 percent on term deposits for a maturity period of three years or more but less than four years. Kotak Mahindra Bank offers a 5.25 percent interest rate on deposits with a maturity period of four years or more but less than five years. The bank offers 5.30 percent on FDs with a maturity period of 5 years and above, up to and including 10 years. These rates are in force from April 26, 2021.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 - 14 Days | 2.50% | 2.50% |
| 15 - 30 Days | 2.50% | 2.50% |
| 31 - 45 Days | 2.75% | 2.75% |
| 46 - 90 Days | 2.75% | 2.75% |
| 91 - 120 Days | 3.00% | 3.00% |
| 121 - 179 days | 3.25% | 3.25% |
| 180 Days | 4.40% | 4.40% |
| 181 Days to 269 Days | 4.40% | 4.45% |
| 270 Days | 4.40% | 4.45% |
| 271 Days to 363 Days | 4.40% | 4.45% |
| 364 Days | 4.40% | 4.45% |
| 365 Days to 389 Days | 4.50% | 4.58% |
| 390 Days (12 months 25 days) | 4.80% | 4.89% |
| 391 Days - Less than 23 Months | 4.80% | 4.89% |
| 23 Months | 5.00% | 5.09% |
| 23 months 1 Day- less than 2 years | 5.00% | 5.09% |
| 2 years- less than 3 years | 5.00% | 5.09% |
| 3 years and above but less than 4 years | 5.10% | 5.20% |
| 4 years and above but less than 5 years | 5.25% | 5.35% |
| 5 years and above up to and inclusive of 10 years | 5.30% | 5.41% |
| Source: Kotak Mahindra Bank |
Axis Bank Fixed Deposit
Axis Bank, a private sector lender, has revised its fixed deposit interest rates with effect from May 6, 2021. (FDs). Axis Bank offers fixed-deposits with periods ranging from seven to ten years. Axis Bank currently provides 2.50 percent interest on FDs maturing between 7 and 29 days, 3 percent interest on FDs maturing between 30 days and less than 3 months, and 3.5 percent interest on FDs maturing between 3 months and less than 6 months, after the most recent revision. On FDs maturing in six months or less than eleven months and twenty-five days, Axis Bank provides a 4.40 percent interest rate. The bank will now pay 5.20 percent interest on deposits maturing in 15 months or fewer than 18 months. Long-term deposits maturing in two to five years will fetch you 5.40 percent interest at Axis Bank. Whereas 5.75 percent interest is paid on deposits for a maturity period of 5 to 10 years respectively.
| Tenure | Regular FD Rates in % | Senior Citizen FD Rates in % |
|---|---|---|
| 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 | 4.4 | 4.65 |
| 1 year < 1 year 5 days | 5.1 | 5.75 |
| 1 year 5 days < 1 year 11 days | 5.15 | 5.8 |
| 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 | 5.2 | 5.85 |
| 16 months < 17 months | 5.2 | 5.85 |
| 17 months < 18 months | 5.2 | 5.85 |
| 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 |
| Source: Axis Bank |
ICICI Bank Fixed Deposit
Fixed deposits of ICICI Bank range from seven days to ten years. ICICI Bank now pays 2.5 percent interest on deposits maturing in 7 to 29 days, 3 percent for 30 to 90 days, and 3.5 percent for FDs maturing in 91 to 184 days, after the most recent adjustment. ICICI Bank offers a 4.40 percent interest rate on deposits maturing in 185 days or less than one year. Term deposits with a maturity period of one year or less than 18 months will fetch 4.9 percent interest. FDs with a term of 18 months to 2 years will pay you 5% interest. Term deposits maturing in two to three years will yield 5.15 percent, three to five years will yield 5.35 percent, and five to ten years will yield 5.50 percent. These rates are in force from October 21, 2020.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 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% |
| Source: ICICI Bank |
HDFC Bank Fixed Deposit
Following the latest revision, HDFC Bank is now offering 2.50 percent interest on deposits with a maturity period of 7 to 29 days, and 3 percent interest on deposits with a maturity period of 30 to 90 days. 3.5 percent for 91 days to 6 months, and 4.4 percent for 6 months 1 day to less than one year. On one-year FDs, the bank offers 4.9 percent interest. Term deposits with a one-year or two-year maturity period will earn 4.9 percent interest. FDs maturing in 2 to 3 years will yield 5.15 percent, while those maturing in 3 to 5 years will yield 5.30 percent. 5.50 percent interest will be paid on deposits for a maturity period of 5 to 10 years. These rates are effective from 13 November 2020.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 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 year | 4.90% | 5.40% |
| 2 year 1 day - 3 year | 5.15% | 5.65% |
| 3 year 1 day- 5 year | 5.30% | 5.80% |
| 5 year 1 day - 10 year | 5.50% | 6.25% |
| Source: HDFC Bank |
