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SBI Vs Kotak Vs Axis Vs ICICI Vs HDFC: Latest Interest Rates On FDs Compared
A fixed deposit (FD) is a type of investment that banks and NBFCs provide. When it comes to FDs, the interest rates are pre-determined that you'll earn at maturity when you invest. One of the many advantages given by fixed deposits, is assured returns. Interest rates of bank fixed deposits vary depending on the amount invested, the term of the deposit, and the type of depositor you are. FD provides a variety of tenure options, ranging from seven days to ten years. As a result, investors can pick the investment duration based on their personal finance goals. If you want to generate a decent rate of interest without taking any risks, FDs are a fantastic option. Before investing in fixed deposits it is always important to verify the interest rates of leading banks. So let's take a look at what is there for you in the form of interest rates by the country's leading banks such as SBI, Kotak and so on.
SBI Fixed Deposit Rates
General customers will receive 2.9 percent to 5.4 percent on SBI FDs with terms ranging from 7 to 10 years. Senior citizens will get an additional 50 basis points (bps) on their deposits across the same tenure. From 8 January 2021 these rates are in force.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 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 year | 4.90% | 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% |
| Source: SBI, W.e.f. 08.01.2021 |
HDFC Bank Fixed Deposit Rates
On deposits maturing between 7 days and 10 years, HDFC Bank pays interest ranging from 2.50 percent to 5.50 percent. Senior citizens can get interest rates ranging from 3% to 6.25 percent on FDs maturing in 7 days to 10 years from HDFC Bank. These rates are in force from May 21, 2021.
| 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 to less than 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% |
| Source: HDFC Bank |
ICICI Bank Fixed Deposit Rates
On deposits maturing in 7 days to 10 years, ICICI Bank offers interest rates ranging from 2.5 percent to 5.50 percent. These rates are effective as of October 21, 2020. Seniors will earn a 50 basis point (bps) higher interest rate than the general public.
| 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 less than 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 |
Kotak Mahindra Bank Fixed Deposit Rates
On term deposits maturing in 7 days to 10 years, Kotak Mahindra Bank offers interest rates ranging from 2.5 percent to 5.30 percent. On the other hand, senior citizens will get an additional rate of 50 basis point (bps). These rates can vary from 3.00% to 5.80% for deposits made by senior citizens. With effect from April 26, 2021, interest rates of Kotak Mahindra Bank FD are in force.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 - 14 Days | 2.50% | 3.00% |
| 15 - 30 Days | 2.50% | 3.00% |
| 31 - 45 Days | 2.75% | 3.25% |
| 46 - 90 Days | 2.75% | 3.25% |
| 91 - 120 Days | 3.00% | 3.50% |
| 121 - 179 days | 3.25% | 3.75% |
| 180 Days | 4.40% | 4.90% |
| 181 Days to 269 Days | 4.40% | 4.90% |
| 270 Days | 4.40% | 4.90% |
| 271 Days to 363 Days | 4.40% | 4.90% |
| 364 Days | 4.40% | 4.90% |
| 365 Days to 389 Days | 4.50% | 5.00% |
| 390 Days (12 months 25 days) | 4.80% | 5.30% |
| 391 Days - Less than 23 Months | 4.80% | 5.30% |
| 23 Months | 5.00% | 5.50% |
| 23 months 1 Day- less than 2 years | 5.00% | 5.50% |
| 2 years- less than 3 years | 5.00% | 5.50% |
| 3 years and above but less than 4 years | 5.10% | 5.60% |
| 4 years and above but less than 5 years | 5.25% | 5.75% |
| 5 years and above up to and inclusive of 10 years | 5.30% | 5.80% |
| Source: Kotak Mahindra Bank |
Axis Bank Fixed Deposit Rates
Axis Bank recently changed the interest rates on fixed deposits (FDs), which are effective as on May 21, 2021. The bank's interest rates on deposits of less than Rs 2 crore for periods ranging from seven to ten years are now 2.5 percent to 5.75 percent for the general public and 2.50 percent to 6.50 percent for senior citizens, following the most recent revision.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 days to 14 days | 2.50% | 2.50% |
| 15 days to 29 days | 2.50% | 2.50% |
| 30 days to 45 days | 3.00% | 3.00% |
| 46 days to 60 days | 3.00% | 3.00% |
| 61 days less than 3 months | 3.00% | 3.00% |
| 3 months to less than 4 months | 3.50% | 3.50% |
| 4 months to less than 5 months | 3.50% | 3.50% |
| 5 months to less than 6 months | 3.50% | 3.50% |
| 6 months to less than 7 months | 4.40% | 4.65% |
| 7 months to less than 8 months | 4.40% | 4.65% |
| 8 months to less than 9 months | 4.40% | 4.65% |
| 9 months to less than 10 months | 4.40% | 4.65% |
| 10 months to less than 11 months | 4.40% | 4.65% |
| 11 months to less than 11 months 25 days | 4.40% | 4.65% |
| 11 months 25 days to less than 1 year | 4.40% | 4.65% |
| 1 year to less than 1 year 5 days | 5.10% | 5.75% |
| 1 year 5 days to less than 1 year 11 days | 5.15% | 5.80% |
| 1 year 11 days to less than 1 year 25 days | 5.10% | 5.75% |
| 1 year 25 days to less than 13 months | 5.10% | 5.75% |
| 13 months to less than 14 months | 5.10% | 5.75% |
| 14 months to less than 15 months | 5.10% | 5.75% |
| 15 months to less than 16 months | 5.10% | 5.75% |
| 16 months to less than 17 months | 5.10% | 5.75% |
| 17 months to less than 18 months | 5.10% | 5.75% |
| 18 Months to less than 2 years | 5.25% | 5.90% |
| 2 years to less than 30 months | 5.40% | 6.05% |
| 30 months to less than 3 years | 5.40% | 5.90% |
| 3 years to less than 5 years | 5.40% | 5.90% |
| 5 years to 10 years | 5.75% | 6.50% |
| Source: Axis Bank |
