BackSBI cuts fixed deposit (FD) rates. How they compare with ICICI Bank, HDFC Bank, Axis Bank
A comparison of the latest interest rates on fixed deposits offered by SBI, ICICI Bank, Axis Bank and HDFC Bank
PremiumState Bank of India (SBI) has slashed interest rates on its fixed deposits (FDs). SBI tweaked interest rate on select maturities. After the latest revision, SBI FDs between 7 days to 45 days will now 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 4.9% now instead of 5.1%. 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 continus giving 5.4%. These rates are effective 10 September. 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.
SBI latest FD interest rates (below ₹2 crore) for general public effective 10 September
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 - 4.9%
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%
ICICI Bank latest FD interest rates (below ₹2 crore) for general public with effect from 7 September
ICICI Bank gives 2.5% interest on deposits maturing in 7 days to 29 days. On deposits maturing in 30 days to 90 days 3%. ICICI Bank has sharply cut the interest rate by 50 basis points (bps) on FDs maturing in 91 days to 184 days. These deposits will now fetch 3.5%. On deposits maturing in 185 days to 289 days, ICICI Bank offers an interest rate of 4.40%. The bank has slashed interest rates on FDs maturing in 290 days to less than 1 year by 10 bps. After the latest revision, ICICI Bank is offering 4.4% on FDs maturing 290 days to less than 1 year. Term deposits maturing in 1 year to less than 18 months will fetch an interest rate of 5%. Now, FDs with tenure of 18 months to 2 years will give you 5.10% interest, and 2 years 1 day to 3 years 5.15%. According to the latest revision, ICICI Bank FDs maturing in 5-10 years will now give you 5.50% interest. These rates are with effect from 7 September. After the latest revision, senior citizens will get 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 - 5%
390 days to < 18 months - 5%
18 months days to 2 years - 5.1%
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%
HDFC Bank latest FD interest rates (below ₹2 crore) for general public with effect from 25 August
After the latest revision, HDFC Bank is offering 2.50% interest rate on deposits between 7 days and 29 days, and 3 % on deposits maturing in 30-90 days. The bank has sharply cut the interest rate by 50 basis points (bps) on FDs maturing in 91 days to 6 months. These will now fetch an interest rate of 3.5%. HDFC Bank has slashed the interest rate by 10 basis points on term deposits maturing in 9 months 1 day to less than one year. These deposits will now give 4.4%. Term deposits maturing in one year to two years will give 5.10% interest. HDFC Bank has slashed the interest rate on long-term deposits maturing in two years to five years. 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 applicable from 25 August. The bank offers interest rates from 3% to 6.25% on FDs maturing in 7 days to 10 years to senior citizens.
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 days - 9 months 4.4%
9 months 1 day < 1 Year 4.4%
1 Year 5.10%
1 year 1 day - 2 years 5.10%
2 years 1 day - 3 years 5.15%
3 year 1 day- 5 years 5.30%
5 years 1 day - 10 years 5.50%
Axis Bank latest FD interest rates (below ₹2 crore) for general public effective 26 August
Private sector lender Axis Bank has sharply cut interest rates on fixed deposits (FDs) with effect from 26 August. Axis Bank offers FDs across different tenures, ranging from 7 days to 10 years. The bank offers higher rate to senior citizens on select maturities. After the latest revision, Axis Bank is offering an interest rate of 2.50% on FDs with maturity between 7 days and 60 days, 4% for FDs maturing between 3 months and less than 6 months. For term deposits maturing in one year to less than less than 18 months, the bank gives 5.10%. For long-term deposits maturing in 2 years to less han five years, Axis Bank offers an inuerest rate of 5.40%
7 days to 14 days 2.50%
15 days to 29 days 2.50%
30 days to 45 days 2.5%
46 days to 60 days 2.5%
61 days < 3 months 2.75%
3 months < 4 months 4%
4 months < 5 months 4%
5 months < 6 months 4%
6 months < 7 months 4.40%
7 months < 8 months 4.40%
8 months < 9 months 4.40%
9 months < 10 months 4.50%
10 months < 11 months 4.50%
11 months < 11 months 25 days 4.50%
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%
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