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ICICI Bank Vs HDFC Bank Vs Kotak Mahindra Bank: Latest FD Interest Rates Compared
Fixed Deposits in banks are the most popular investment decision for risk-averse investors looking for a safe location to park their money. Fixed Deposits offer a great investment option to such investors. Interest rates on bank fixed deposits vary based on the amount deposited and the tenure of the account, with senior citizens receiving a somewhat higher rate than the general public somewhat near 0.5% additional on regular FD.
Fixed Deposit offers a range of tenure options ranging from seven days to ten years. Before you invest your money in a fixed-rate deposit, it is always advised that you should compare the interest rates given by different banks and other institutions.
In April 2022, 3 private lenders, ICICI Bank, Kotak Mahindra Bank, and HDFC Bank revised their Fixed Deposit interest rates. Here are the latest interest rates on Fixed Deposits offered by these 3 private sector banks.
Interest rates on Domestic, NRO & NRE deposits
ICICI Bank
Interest Rate on Single Deposit Less Than Rs 2 Cr w.e.f January 20, 2022
| Maturity Period | General FD | Senior Citizen FD |
|---|---|---|
| 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 150 days | 3.50% | 4.00% |
| 151 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 | 5.00% | 5.50% |
| 390 days to < 15 months | 5.00% | 5.50% |
| 15 months to < 18 months | 5.00% | 5.50% |
| 18 months to 2 years | 5.00% | 5.50% |
| 2 years 1 day to 3 years | 5.20% | 5.70% |
| 3 years 1 day to 5 years | 5.45% | 5.95% |
| 5 years 1 day to 10 years | 5.60% | 6.35% |
| 5 Years (80C FD) - Max to 1.50 lac | 5.45% | 5.95% |
Interest Rate on Single Deposit on Rs 2 Cr and above but less than 5 Cr w.e.f April 14, 2022
| Maturity Period | General FD | Senior Citizen FD |
|---|---|---|
| 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 to 90 days | 3.00% | 3.00% |
| 91 days to 120 days | 3.35% | 3.35% |
| 121 days to 150 days | 3.50% | 3.50% |
| 151 days to 184 days | 3.50% | 3.50% |
| 185 days to 210 days | 3.60% | 3.60% |
| 211 days to 270 days | 3.60% | 3.60% |
| 271 days to 289 days | 3.70% | 3.70% |
| 290 days to less than 1 year | 3.70% | 3.70% |
| 1 year to 389 days | 4.25% | 4.25% |
| 390 days to < 15 months | 4.25% | 4.25% |
| 15 months to < 18 months | 4.30% | 4.30% |
| 18 months to 2 years | 4.40% | 4.40% |
| 2 years 1 day to 3 years | 4.60% | 4.60% |
| 3 years 1 day to 5 years | 4.70% | 4.70% |
| 5 years 1 day to 10 years | 4.70% | 4.70% |
*NRE rates applicable for tenure of 1 year and above only.
**Senior Citizen rates applicable only for domestic term deposits.
Kotak Mahindra Bank
Interest Rate on Deposit of Less Than Rs 2 Cr w.e.f April 12, 2022
| Maturity Periods | Regular FD | Senior Citizen FD |
|---|---|---|
| 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 | 3.50% | 4.00% |
| 180 Days | 4.50% | 5.00% |
| 181 Days to 269 Days | 4.50% | 5.00% |
| 270 Days | 4.50% | 5.00% |
| 271 Days to 363 Days | 4.50% | 5.00% |
| 364 Days | 4.75% | 5.25% |
| 365 Days to 389 Days | 5.10% | 5.60% |
| 390 Days (12 months 25 days) | 5.20% | 5.70% |
| 391 Days - Less than 23 Months | 5.20% | 5.70% |
| 23 Months | 5.25% | 5.75% |
| 23 months 1 Day- less than 2 years | 5.25% | 5.75% |
| 2 years- less than 3 years | 5.30% | 5.80% |
| 3 years and above but less than 4 years | 5.45% | 5.95% |
| 4 years and above but less than 5 years | 5.50% | 6.00% |
| 5 years and above upto and inclusive of 10 years | 5.60% | 6.10% |
Interest Rate on Deposit on Rs 2 Cr and above but less than 5 Cr w.e.f April 12, 2022
| Maturity Periods | Regular FD |
|---|---|
| 7 - 14 Days | 2.50% |
| 15 - 30 Days | 2.50% |
| 31 - 45 Days | 2.75% |
| 46 - 60 Days | 2.75% |
| 61 - 90 Days | 3.00% |
| 91 - 120 Days | 3.35% |
| 121 - 179 days | 3.50% |
| 180 Days | 4.25% |
| 181 Days to 270 Days | 4.25% |
| 271 Days to 279 Days | 2.90% |
| 280 Days to Less than 12 Months | 4.30% |
| 12 months - less than 15 months | 4.75% |
| 15 months - less than 18 months | 4.75% |
| 18 months - less than 2 Years | 4.75% |
| 2 years and above but less than 3 years | 4.90% |
| 3 years and above but less than 4 years | 5.00% |
| 4 years and above but less than 5 years | 5.00% |
| 5 years and above upto & inclusive of 7 years | 5.00% |
Note- In these FD Premature withdrawal are allowed
*Senior Citizens' rate is not applicable on NRO/NRE deposits
**No interest will be payable for NRE TDs staying less than 1 year.
HDFC Bank
Interest Rate on Deposit of Less Than Rs 2 Cr w.e.f April 6, 2022
| Maturity Periods | Regular FD | Senior Citizen FD |
|---|---|---|
| 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 < 90 Days | 3.00% | 3.50% |
| 91 Days to 6 Months | 3.50% | 4.00% |
| 6 months 1 Day to 9 Months | 4.40% | 4.90% |
| 9 Months 1 Dys to 1 Year | 4.40% | 4.90% |
| 1 year | 5.10% | 5.60% |
| 1 Year 1 Day to 2 Years | 5.10% | 5.60% |
| 2 Years 1 Day to 3 Years | 5.20% | 5.70% |
| 3 years 1 day to 5 years | 5.45% | 5.95% |
| 5 Years 1 Day to 10 Years | 5.60% | 6.35%* |
Interest Rate on Deposit on Rs 2 Cr and above but less than 5 Cr w.e.f April 6, 2022
| Maturity Periods | Regular FD | Senior Citizen FD |
|---|---|---|
| 7 Days to 14 days | 2.50% | 3.00% |
| 15 days to 29 days | 2.50% | 3.00% |
| 30 days to 45 days | 2.75% | 3.25% |
| 46 days to 60 days | 2.75% | 3.25% |
| 61 days < 90 Days | 3.00% | 3.50% |
| 91 Days to 6 Months | 3.35% | 3.85% |
| 6 months 1 Day to 9 Months | 3.60% | 4.10% |
| 9 Months 1 Dys to 1 Year | 3.70% | 4.20% |
| 1 year | 4.05% | 4.55% |
| 1 Year 1 Day to 2 Years | 4.20% | 4.70% |
| 2 Years 1 Day to 3 Years | 4.50% | 5.00% |
| 3 years 1 day to 5 years | 4.60% | 5.10% |
| 5 Years 1 Day to 10 Years | 4.60% | 5.35%* |
*Senior Citizens' rate is not applicable on NRI deposits
**No interest will be payable for NRE TDs staying less than 1 year.
