Which Bank Is Offering Maximum Interest Rates On FD After Recent Hike: Check Latest Rates

After the RBI's big move of raising repo rate at an unscheduled meet held on May 4, many private and public lenders started offering higher interest rates on fixed deposits to make them more attractive for citizens. However, it is good to find which bank is offering maximum interest rate on FDs so that you can plan your investment accordingly. Fixed Deposits have emerged beneficial for those who are averse to risks.

Below is a comparison of interest rates of various banks after the recent interest rate revision after RBI's move to hike repo rate:

1. ICICI Bank

The bank has revised its interest rates on fixed deposits that have become effective from May 27, 2022. Check the interest rates for domestic, NRO & NRE Fixed Deposits of less than Rs 5 crore. Check the table below for latest interest rates: 

Maturity Period	Interest rates (per cent per annum) w.e.f. May 21, 2022		Interest rates (per cent per annum) w.e.f. May 27, 2022
	Single deposit of less than ₹20.0 million		Single deposit of ₹20.0 mn & above but less than 50.0 mn
	General	**Senior Citizen	General	**Senior Citizen
7 days to 14 days	2.50%	3.00%	3.00%	3.00%
15 days to 29 days	2.50%	3.00%	3.00%	3.00%
30 days to 45 days	3.00%	3.50%	3.25%	3.25%
46 days to 60 days	3.00%	3.50%	3.25%	3.25%
61 days to 90 days	3.00%	3.50%	3.40%	3.40%
91 days to 120 days	3.50%	4.00%	4.25%	4.25%
121 days to 150 days	3.50%	4.00%	4.25%	4.25%
151 days to 184 days	3.50%	4.00%	4.25%	4.25%
185 days to 210 days	4.40%	4.90%	4.50%	4.50%
211 days to 270 days	4.40%	4.90%	4.50%	4.50%
271 days to 289 days	4.40%	4.90%	4.70%	4.70%
290 days to less than 1 year	4.50%	5.00%	4.70%	4.70%
1 year to 389 days	5.10%	5.60%	4.95%	4.95%
390 days to < 15 months	5.10%	5.60%	4.95%	4.95%
15 months to < 18 months	5.10%	5.60%	5.00%	5.00%
18 months to 2 years	5.10%	5.60%	5.00%	5.00%
2 years 1 day to 3 years	5.40%	5.90%	5.25%	5.25%
3 years 1 day to 5 years	5.60%	6.10%	5.25%	5.25%
5 years 1 day to 10 years	5.75%	#6.50%	5.25%	5.25%
5 Years (80C FD) - Max to 1.50 lac	5.60%	6.10%	NA	NA

2. SBI Bank

SBI Bank offers an interest rate of 3.40% for FDs maturing in 7-45 days with the same rates being offered to senior citizens. The interest rates for FDs maturing in 46-179 days remains at 3.90% and for senior citizens 4.40%. Meanwhile, the interest rates for FDs maturing in 180-210 days will be 4.40% and for senior citizens 4.90%. For FDs for the tenor of 211-less than a year, the interest rate is fixed at 4.40% and the rate for senior citizens the interest rate is 4.90%.

For the tenure of 1 year to less than 2 year, the interest rate is fixed at for citizens at 5.10% and for senior citizens it is 5.60%. FDs maturing in 5 years and up to 10 years tenure will fetch an interest rate of 5.50 for citizens and 6.30 for senior citizens.

3. PNB

The leading public sector bank has also raised its interest rates on fixed deposits by up to 60 basis points on specific tenors. The new rates on the FDs have come into effect from May 7, 2022. Check the rates below: The bank has revised its interest rates for deposits below Rs 2 crore starting from May 7.

7-45days: The bank is offering an interest rate of 3.00% for citizens and 3.50 for senior citizens.

45-90 days: The bank is offering an interest rate of 3.25% for citizens and 3.75 for senior citizens.

91-179 days: PNB is offering an interest rate of 4.00 % for citizens and 4.50 for senior citizens.

180-270 days: It is offering an interest rate of 4.50 % for citizens and 5.00 for senior citizens.

271-less than a year: PNB is offering an interest rate of 4.50 % for citizens and 5.00 for senior citizens.

1 year: The bank is offering an interest rate of 5.10 % for citizens and 5.60 for senior citizens.

Above 1 year and up to 3 year: PNB is offering an interest rate of 5.10 % for citizens and 5.60 for senior citizens.

Above 3 year and up to 5 years: It is offering an interest rate of 5.25 % for citizens and 5.75 for senior citizens.

Above 5 years and up to 10 years: It is offering an interest rate of 5.25 % for citizens and 5.75 for senior citizens.

4. HDFC

The bank has also hiked its interest rates on several Fixed Deposits for the tenure of less than 2 years. The bank has sought to hike its interest rates by 20 basis points. The rates have become effective starting from May 18, 2022, according to its official website. Check the rates in the table given below:

Tenor Bucket	< 2 Crore
	Interest 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 mnths 1 days - 9 mnths	4.40%	4.90%
9 mnths 1 day < 1 Year	4.50%	5.00%
1 Year	5.10%	5.60%
1 year 1 day - 2 years	5.10%	5.60%
2 years 1 day - 3 years	5.40%	5.90%
3 year 1 day- 5 years	5.60%	6.10%
5 years 1 day - 10 years	5.75%	6.50%*