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SBI Vs RBL Vs Axis Vs DCB Vs HDFC Vs IDFC First Bank: Latest FD Rates Here

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A fixed deposit investment under the debt category is always the safe choice for both short and long-term financial goals. Fixed deposit terms range from seven days to ten years, giving you the freedom to invest according to your personal financial goals. The relevant interest rates remain fixed throughout the chosen tenure, making fixed deposits a safe investment choice, particularly for older persons. While investing in a fixed deposit scheme it is preferred to compare the interest rates of the leading banks promising higher returns, and as a result here we have compared the interest rates of the top 6 banks of India which are now promising good returns on fixed deposit.

 

State Bank of India (SBI)

State Bank of India (SBI)

Interest rates on retail domestic term deposits (under Rs. 2 crore) have been modified by the State Bank of India with effect from January 8, 2021. A special "SBI Wecare" Deposit for elderly folks will offer an additional premium of 30 basis points over and above the regular 50 basis points as indicated in the below table to Senior Citizens on their retail term deposit for tenors of 5 years and above. The scheme is valid for investment until September 30, 2021.

TenorsRevised Rates For Public w.e.f. 08.01.2021Revised Rates for Senior Citizens w.e.f. 08.01.2021
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

RBL Bank
 

RBL Bank

Among the private sector banks, RBL Bank is offering the highest interest rates on fixed deposits. With effect from 1st September 2021, the bank has revised its interest rates on fixed deposits of less than Rs 3 Cr which are as follows.

Period of DepositInterest Rates p.a.Senior Citizen Interest Rates p.a.
7 days to 14 days 3.25% 3.75%
15 days to 45 days 3.75% 4.25%
46 days to 90 days 4.00% 4.50%
91 days to 180 days 4.50% 5.00%
181 days to 240 days 5.00% 5.50%
241 days to 364 days 5.25% 5.75%
12 months to less than 24 months 6.00% 6.50%
24 months to less than 36 months 6.00% 6.50%
36 months to less than 60 months 6.30% 6.80%
60 months to 60 months 1 day 6.30% 6.80%
60 months 2 days to less than 120 months 5.75% 6.25%
120 months to 240 months 5.75% 6.25%
Tax Savings Fixed Deposit (60 months) 6.30% 6.80%
Source: RBL Bank

Axis Bank

Axis Bank

For Domestic Fixed Deposits, Domestic Fixed Deposits Plus and NRI Fixed Deposits /FCNR Deposit, Axis Bank has recently revised the interest rates on fixed deposits which are in effect from 9th September 2021. For deposits of less than Rs 2 Cr, the latest interest rates on FD of the bank are as follows.

PeriodRegular Interest Rates (in % p.a.)Senior citizens interest rates ( in % p.a.)
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 11days 5.15 5.8
1 year 11days < 1 year 25days 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 6.05
3 years < 5 years 5.4 6.05
5 years to 10 years 5.75 6.5
Source: Bank Website, W.E.F. 09/09/2021

DCB Bank

DCB Bank

For Resident Indian Fixed Deposit of less than Rs 2 Cr, DCB Bank had revised interest rates on fixed deposit with effect from 17th August 2021. The latest interest rates on fixed deposits of the bank are listed below.

TenureRegular Interest Rates (in % p.a.)Senior citizens interest rates ( in % p.a.)
7 days to 14 days 4.35% 4.85%
15 days to 45 days 4.35% 4.85%
46 days to 90 days 4.35% 4.85%
91 days to less than 6 months 5.05% 5.55%
6 months to less than 12 months 5.45% 5.95%
12 months 5.55% 6.05%
More than 12 months to less than 15 months 5.30% 5.80%
15 months to less than 18 months 5.50% 6.00%
18 months to less than 700 days 5.50% 6.00%
700 days 5.95% 6.45%
More than 700 days to less than 36 months 5.50% 6.00%
36 months 5.95% 6.45%
More than 36 months to 60 months 5.95% 6.45%
More than 60 months to 120 months 5.95% 6.45%
Source: DCB Bank, (with effect from 17th August, 2021)

HDFC Bank

HDFC Bank

For a deposit amount of less than Rs 2 Cr, HDFC Bank had revised interest rates from 21st May 2021 across Domestic, NRO, NRE fixed deposit schemes. Senior Citizens who open an FD account of less than 5 crores for a term of 5 years One Day to 10 Years during the offer period ranging from 18th May'20 to 30th Sep'21 will receive an additional premium of 0.25 percent over and above the existing premium of 0.50 percent. Check out the latest interest rates on fixed deposits of the bank for both regular and senior citizens.

TenorsInterest Rate (per annum)Senior Citizen Rates (per annum)
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 day - 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%
Source: HDFC Bank, W.e.f. 21st May 2021

IDFC First Bank

IDFC First Bank

IDFC First Bank has recently revised its interest rates on fixed deposits from 15th September 2021. For both regular and senior citizens, the latest rates on fixed deposits of the bank are as follows.

PeriodRate of Interest (%p.a.) w.e.f. September 15, 2021For senior citizens
7 - 14 days 2.50% 3.00%
15 - 29 days 2.50% 3.00%
30 - 45 days 2.75% 3.25%
46 - 90 days 2.75% 3.25%
91 - 180 days 3.25% 3.75%
181 days - less than 1 year 4.50% 5.00%
1 year - 2 years 4.75% 5.25%
2 years 1 day - 3 years 5.00% 5.50%
3 years 1 day - 5 years 5.20% 5.70%
5 years 1 day - 10 years 5.25% 5.75%
5 Years Tax Saver Deposit (Only for Domestic Deposits) 5.25% 5.75%
Source: Bank Website

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