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SBI Vs RBL Vs Axis Vs DCB Vs Yes Bank: Revised Interest Rates On FD Compared

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Fixed deposit (FD) investments have long been a preferred way for creating wealth since they are not subject to market fluctuations and offer fixed returns in the form of interest rate at maturity. The interest rate on FDs is significantly higher than that on a standard savings account. The lock-in term for an FD account is also known as the maturity period or deposit tenure which implies that you will not be able to withdraw the funds you have placed within this time frame without paying a penalty which will result in low returns at the time of maturity. While investing in fixed deposits one of the most important advantages that you get is an insurance cover of Rs 5 lakhs by DICGC on both the principal amount and interest rate. Before picking an FD, we always recommend that you evaluate the interest rates available. Some leading banks with the highest FD rates for deposits up to Rs 2 crore over various tenures are listed below.

 

SBI Fixed Deposit

SBI Fixed Deposit

The interest rate on SBI FDs ranges from 2.90 per cent to 5.40 per cent. The deposit period, which can vary from 7 days to 10 years, influences SBI Bank FD rates. The bank's most recent fixed deposit rates for regular citizens and senior citizens for deposits of less than Rs 2 crore are mentioned below.

TenureRegular FD RatesSenior 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

RBL Bank Fixed Deposit
 

RBL Bank Fixed Deposit

RBL Bank offers regular citizens and elderly citizens a range of Fixed Deposit options, with maturities ranging from 7 days to 20 years. FD interest rates range from 3.25 per cent per year to 6.60 per cent per year for deposits with maturity duration of 7 days to 20 years. Recently, RBL Bank amended its FD interest rates for a deposit amount of less than Rs 2 Cr, which are in force from May 7, 2021.

TenureRegular FD RatesSenior Citizen FD Rates
7 days to 14 days 3.25% 3.75%
15 days to 45 days 4.00% 4.50%
46 days to 90 days 4.25% 4.75%
91 days to 180 days 4.75% 5.25%
181 days to 240 days 5.25% 5.75%
241 days to 364 days 5.50% 6.00%
12 months to less than 24 months 6.25% 6.75%
24 months to less than 36 months 6.25% 6.75%
36 months to less than 60 months 6.40% 6.90%
60 months to 60 months 1 day 6.60% 7.10%
60 months 2 days to less than 120 months 6.00% 6.50%
120 months to 240 months 6.00% 6.50%
Tax Savings Fixed Deposit (60 months) 6.60% 7.10%
Source: RBL Bank

Axis Bank Fixed Deposit

Axis Bank Fixed Deposit

The interest rates on fixed deposits (FDs) have recently changed by Axis Bank and are in force from May 21, 2021. Following the most recent adjustment, the bank's interest rates on deposits of less than Rs 2 crore for periods ranging from seven to 10 years are listed below.

TenureRegular FD RatesSenior 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

DCB Bank Fixed Deposit

DCB Bank Fixed Deposit

FD rates of DCB bank are now spanning from 4.55 per cent to 6.50 per cent following the most recent adjustment on May 15, 2021. Check out the bank's current FD rates for deposits of less than Rs 2 crore below.

TenureRegular FD RatesSenior Citizen FD Rates
7 days to 14 days 4.55% 5.05%
15 days to 45 days 4.55% 5.05%
46 days to 90 days 4.50% 5.00%
91 days to less than 6 months 5.25% 5.75%
6 months to less than 12 months 5.70% 6.20%
12 months to less than 15 months 5.80% 6.30%
15 months to less than 18 months 6.00% 6.50%
18 months to less than 700 days 6.00% 6.50%
700 days 6.40% 6.90%
More than 700 days to less than 36 months 6.00% 6.50%
36 months 6.50% 7.00%
More than 36 months to 60 months 6.50% 7.00%
More than 60 months to 120 months 6.50% 7.00%
Source: DCB Bank

Yes Bank Fixed Deposit

Yes Bank Fixed Deposit

Yes Bank recently revised its FD interest rates which are in force from May 10, 2021. After the most recent adjustment, Yes Bank is now promising an interest rate of 3.5% to 6.75% for a deposit amount of less than Rs 2 Cr. Check out the latest rates below.

TenureRegular FD RatesSenior Citizen FD Rates
7 to 14 days 3.50% 4.00%
15 to 45 days 3.75% 4.25%
46 to 90 days 4.25% 4.75%
3 months to less than 6 months 4.75% 5.25%
6 months to less than 9 months 5.25% 5.75%
9 months to less than 1 Year 5.50% 6.00%
1 years less than 2 years 6.00% 6.50%
2 years less than 3 years 6.25% 6.75%
3 Years to less than 5 years 6.50% 7.25%
5 Years to less than equal to 10 years 6.75% 7.50%
Source: Yes Bank

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