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Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint

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

  • SBI, HDFC Bank, ICICI Bank, Axis Bank, PNB offer fixed deposits for tenures ranging from 7 days to 10 years
  • It's better to compare the FD interest rates offered by various banks

State Bank of India (SBI), HDFC Bank, ICICI Bank and Axis Bank offer fixed deposits (FDs) for tenures ranging from 7 days to 10 years. It's always important to compare the FD interest rates offered by various banks before parking your money any FD deposit. SBI and Axis Bank revised the interest rates on term deposits this month. Let's take a look at the latest FD interest rates offered by SBI, ICICI Bank, HDFC Bank, Axis Bank and Punjab National Bank (PNB)

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

SBI FDs between 7 days to 45 days will fetch 2.9%. Term deposits between 46 days to 179 days will give 3.9%. FDs of 180 days to less than one year will fetch 4.4%. Deposits with maturity between 1 year and up to less than 2 years will give 10 bps more now. These deposits will fetch an interest rate of 5% instead of 4.9%. FDs maturing in 2 years to less than 3 years will give 5.1%. FDs with 3 years to less than 5 years will offer 5.3% and term deposits maturing in 5 years and up to 10 years will continue giving 5.4%. These rates are applicable with effect from 8 January 2021. SBI offers senior citizens’ an additional 50 bps interest rate across all tenors. After the latest revision, senior citizens will get 3.4% to 6.2% on FDs maturing in 7 days to 10 years.

7 days to 45 days - 2.9%

46 days to 179 days - 3.9%

180 days to 210 days - 4.4%

211 days to less than 1 year - 4.4%

1 year to less than 2 years - 5%

2 years to less than 3 years - 5.1%

3 years to less than 5 years - 5.3%

5 years and up to 10 years - 5.4%

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

HDFC Bank offers a 2.50% interest rate on deposits between 7 days and 29 days, and 3 % on deposits maturing in 30-90 days. On 91 days to 6 months, 3.5% and on 6 months 1 day to less than one year, 4.4%. The bank gives 4.9% on FDs maturing in one year. Term deposits maturing in one year and two years will fetch an interest rate of 4.9%. FDs maturing in 2 years to 3 years will give 5.15%, 3 years to 5 years will give 5.30%. Deposits with maturity period 5 years to 10 years will give 5.50% interest. These rates are effective from 13 November.

7 - 14 days 2.50%

15 - 29 days 2.50%

30 - 45 days 3%

46 - 60 days 3%

61 - 90 days 3%

91 days - 6 months 3.5%

6 months 1 day - 9 months 4.4%

9 months 1 day < 1 Year 4.4%

1 year - 4.9%

1 year 1 day - 2 years 4.9%

2 years 1 day - 3 years 5.15%

3 year 1 day- 5 years 5.30%

5 years 1 day - 10 years 5.50%

ICICI Bank latest FD interest rates (below 2 crores) for the general public

ICICI Bank gives 2.5% interest on deposits maturing in 7 days to 29 days, 3% for 30 days to 90 days, 3.5% for FDs maturing in 91 days to 184 days. On deposits maturing in 185 days to less than 1 year, ICICI Bank gives an interest rate of 4.40%. Term deposits maturing in 1 year to less than 18 months will fetch an interest rate of 4.9%. Now, FDs with tenure of 18 months to 2 years will give you 5% interest. Term deposits maturing in 2 years to 3 years will give 5.15%, 3 years to 5 years 5.35%, and 5 years to 10 years 5.50%. These rates are applicable from 21 October. Senior citizens will get an interest ranging from 3% to 6.3% on FDs maturing in 7 days to 10 years.

7 days to 14 days - 2.50%

15 days to 29 days - 2.50%

30 days to 45 days - 3%

46 days to 60 days - 3%

61 days to 90 days- 3%

91 days to 120 days - 3.5%

121 days to 184 days - 3.5%

185 days to 210 days - 4.40%

211 days to 270 days - 4.40%

271 days to 289 days - 4.40%

290 days to less than 1 year - 4.40%

1 year to 389 days - 4.9%

390 days to < 18 months - 4.9%

18 months days to 2 years - 5%

2 years 1 day to 3 years - 5.15%

3 years 1 day to 5 years - 5.35%

5 years 1 day to 10 years - 5.50%

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

Axis Bank offers FDs across different tenures, ranging from 7 days to 10 years. The bank has revised the interest rate on FDs on 4 January 2021. For general customers, the bank gives interest on FDs ranging from 2.5% to 5.50%. Axis Bank offers a higher interest rate to senior citizens on select maturities. The bank offers interest ranging from 2.50% to 6% to senior citizens.

7 days to 14 days 2.50

15 days to 29 days 2.50

30 days to 45 days 3

46 days to 60 days 3

61 days < 3 months 3

3 months < 4 months 3.50

4 months < 5 months 3.75

5 months < 6 months 3.75

6 months < 7 months 4.40

7 months < 8 months 4.40

8 months < 9 months 4.40

9 months < 10 months 4.40

10 months < 11 months 4.40

11 months < 11 months 25 days 4.40

11 months 25 days < 1 year 5.15

1 year < 1 year 5 days 5.15

1 year 5 days < 1 year 11 days 5.10

1 year 11 days < 1 year 25 days 5.10

1 year 25 days < 13 months 5.10

13 months < 14 months 5.10

14 months < 15 months 5.10

15 months < 16 months 5.10

16 months < 17 months 5.10

17 months < 18 months 5.10

18 Months < 2 years 5.25

2 years < 30 months 5.40

30 months < 3 years 5.40

3 years < 5 years 5.40

5 years to 10 years 5.50

Punjab National Bank latest FD interest rates (below 2 crores) for the general public

PNB is offering an interest rate ranging between 3% and 5.30% on fixed deposits maturing in the range of 7 days to 10 years. PNB is offering an interest rate of 3% on 7-45 day fixed deposits and it goes up 4.5% on less than 1 year FDs. On term deposits maturing in one year to up to 3 years, PNB gives 5.20% interest. PNB is offering 5.30 % interest on deposits maturing above 5 years to 10 years. These rates are with effect from 1 January 2021. The Senior citizens shall get an additional rate of interest of 50 bps over applicable card rates for all maturities on domestic deposits of less than 2 Crore.

7 to 14 days - 3%

15 to 29 days - 3%

30 to 45 days - 3%

46 to 90 days - 3.25%

91 to 179 days - 4%

180 days to 270 days - 4.4%

271 days to less than 1 year - 4.5%

1 year - 5.20%

Above 1 year & up to 2 years- 5.20%

Above 2 years & up to 3 years- 5.20%

Above 3 years & up to 5 years - 5.30%

Above 5 years & up to 10 years- 5.30%

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