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Business News/ Money / Personal Finance/  ICICI Bank hikes fixed deposit (FD) rates. How they compare with Kotak Mahindra, HDFC Bank, SBI
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ICICI Bank hikes fixed deposit (FD) rates. How they compare with Kotak Mahindra, HDFC Bank, SBI

Bank FD rates comparison: ICICI Bank vs Kotak Mahindra vs HDFC Bank vs SBI

ICICI Bank hikes fixed deposit rate. The rates are effective from 17 February. (Mint)Premium
ICICI Bank hikes fixed deposit rate. The rates are effective from 17 February. (Mint)

ICICI Bank has hiked interest rates on select tenures. After the latest hike, the bank is offering an interest rate ranging from 3% to 7.2% on FDs maturing in seven days to ten years to general customers, and 3.5% to 7.75% to senior citizens. For a term of 15 months to two years, ICICI Bank gives a maximum return of 7.20% to the general public and 7.75% to senior citizens. The rates are effective from 17 February. Earlier the bank had revised the interest rate on term deposits on 16 October 2023.

ICICI Bank latest FD rates

7 days to 14 days 3.00%

15 days to 29 days 3.00%

30 days to 45 days 3.50%

46 days to 60 days 4.25%

61 days to 90 days 4.50%

91 days to 120 days 4.75%

121 days to 150 days 4.75%

151 days to 184 days 4.75%

185 days to 210 days 5.75%

211 days to 270 days 5.75%

271 days to 289 days 6.00%

290 days to less than 1 year 6.00%

1 year to 389 days 6.70%

390 days to < 15 months 6.70%

15 months to < 18 months 7.20%

18 months to 2 years 7.20%

2 years 1 day to 3 years 7.00%

3 years 1 day to 5 years 7.00%

5 years 1 day to 10 years 6.90%

5 Years (80C FD) – Max to `1.50 lac 7.00%

HDFC Bank latest FD rates

HDFC Bank has hiked its interest rates on fixed deposits (FDs). The new rates will come into effect from Feb 9. Currently, HDFC Bank offers interest rates ranging from 3% p.a. to 7.25% p.a. Senior citizens are entitled to an additional interest rate of 0.50% across all tenures.

SBI latest FD rates

SBI offers FD interest rates of 3.50%-7.10% p.a. to the general public and 4.00%-7.60% p.a. to senior citizens for tenures ranging from 7 days to 10 years. These rates are with effect from 27 December 2023

Kotak Mahindra Bank latest FD rates

Kotak Mahindra Bank offers an interest rate of 2.75% to 7.25% on FDs maturing in seven days to ten years. The bank is offering the highest FD interest rate on deposits maturing in 23 months 1 Day- less than 2 years. These rates are effective from 4 January 2024.

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ABOUT THE AUTHOR
Sangeeta Ojha
A business media enthusiast. Writes on personal finance, business and banking.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 22 Feb 2024, 09:22 AM IST
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