Latest bank FD rates compared. (iStock)
Latest bank FD rates compared. (iStock)

Latest bank FD rates compared: What SBI, HDFC, PNB, IndusInd, Axis Bank offer

  • Banks have reduced their FD rates in line with lending rates
  • Here are the latest interest rates on fixed deposits of less than 2 crore offered by various banks

After the Reserve Bank of India (RBI) slashed interest rates for the fifth time in a row, major banks like State Bank of India (SBI), Axis Bank, Punjab National Bank (PNB) and IndusInd Bank have revised their fixed deposit (FD) rates. Banks have reduced their FD rates in line with lending rates. Here are the latest interest rates on fixed deposits of less than 2 crore offered by SBI, Axis Bank, PNB, HDFC Bank and IndusInd Bank.

SBI latest FD interest rates (below 2 crore) for general public

State Bank of India (SBI) has slashed interest rates on fixed deposits (FD) on select maturities with effect from 10th October 2019. The cut in FD rate follows a 25 bps reduction in repo rate by the Reserve Bank of India (RBI) last week. For FDs maturing in 7 days to 45 days and 46 days to 179 days, SBI gives 4.50% and 5.50% interest, respectively. For FDs maturing in 180 days to 210 days and 211 days to less than 1 year, the bank offers an interest rate of 5.80%. SBI has slashed the interest rate on deposits maturing in 1 year to less than 2 years by 10 basis points, now these deposits will give you an interest rate of 6.40%. For FDs maturing in 2 years to 10 years, SBI will give 6.25% interest.

PNB latest FD interest rates (below 2 crore) for general public

Punjab National Bank (PNB) has revised interest rates on fixed deposits (FD) with effect from 1st October. PNB is offering an interest rate ranging between 4.5% and 6.5% on fixed deposits maturing in the range of 7 days to 10 years. PNB is offering an interest rate of 4.5% on 7-45 day fixed deposits and it goes up 5.5% on 46- to 179-day FDs. On 180 days to 270 days FDs, PNB is paying 6% respectively. PNB will give 6.00% interest on deposits maturing in 271 days to less than 1 year. Term deposits maturing in 333 days and 1 year will fetch an interest rate of 6.1% and 6.5% respectively. PNB is offering 6.5% on 444-day and 555-day maturity FDs. On 1 year to 2 years, the bank is offering 6.4% and on 2 years to 3 years, PNB is offering 6.25%. On FDs between 3 years and up to 5 years, PNB is offering 6.25% interest and above 5 years and upto 10 years, the bank is offering 6.5% interest.

Axis Bank latest FD interest rates (below 2 crore) for general public

Axis Bank has revised interest rates on FDs with effect from 4th October. Axis Bank offers FDs across different tenures, ranging from 7 days to 10 years. Axis Bank is offering 3.50% interest on FDs between 7 days to 14 days. On FDs between 15 days to 29 days and 30 days to 45 days, Axis Bank is offering 4.00% and 5.20% interest, respectively. For 46 days to less than 3 months, the interest rate is 5.65%. For FDs with 3 months to less than 6 months, Axis Bank will give 5.75% interest now. On FDs maturing between 6 months to less than 9 months, the bank is giving an interest rate of 6.25%. For FDs with maturities of 9 months to less than 11 months 25 days, Axis Bank gives 6.35% interest. For deposits maturing in 11 months 25 days to less than 1 year, Axis Bank will pay an interest rate of 6.70%. Axis Bank pays interest rate of 6.60% on FDs between 1 year to less than 1 year 25 days. Term deposits maturing in 1 year 25 days to less than 18 months will fetch you an interest rate of 6.70%. For FDs maturing in 18 months to less than 2 years, Axis Bank is giving 6.80% interest. Axis Bank will give 7.00% interest on FDs maturing in 2 years and 3 years. For deposits with maturity period 3 and 10 years, the bank will now give 6.75% interest.

IndusInd Bank latest FD interest rates (below 2 crore) for general public

IndusInd Bank offers 4.00% to 7.50% rate on deposits maturing in 7 days to 61 months and above. For deposits maturing in 7-14 days, IndusInd Bank offers 4.00%, for 15-30 days 4.25%, for 31 days to 45 days 5.25% and for 46-90 days, the bank offers an interest rate of 5.75%. FDs maturing in 91 days to 180 days will give an interest of 5.90% and those deposits maturing in 181 days to 210 days will offer 6.35% interest and 211 days to 269 days 6.40%. IndusInd Bank gives an interest rate of 6.50% on maturity between 270 days or below 1 years. IndusInd Bank offers a consistent rate of 7.25% on its medium-term deposits across all tenures. FDs with maturities above 1 years to below 3 years will fetch an interest of 7.25%. For FDs maturing in 3 years to below 5 years one month, IndusInd Bank offers an interest rate of 6.15%. For term deposits maturing in 5 years one month and above, the bank offers an interest rate of 7.05%. IndusInd tax saver scheme will give you 7.15%.

HDFC Bank latest FD interest rates (below 2 crore) for general public

HDFC Bank offers 3.50% interest rate for deposits between 7 days and 14 days. For 15 days to 29 days maturity FDs, HDFC Bank is offering 4.25%, 30 days to 45 days 5.15%, 46 days to 6 months 5.65%, six months one day to nine months 6.25% and nine months one day to less than 1 year 6.35%. For FDs with maturity period 1 year and 2 years, the bank gives 6.60% interest. For deposits maturing in 2 years 1 day to 3 years, HDFC Bank gives the highest interest rate at 7%. For FDs maturing in 3 years 1 day to 10 years, the bank will offer an interest rate of 6.90%.

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