Commercial Bank FDs: Top 18 banks with over 7% rates for retail investors

• The repo rate has been hiked by 225 basis points by the Reserve Bank of India (RBI) since May 2022, which has resulted in a rise in term deposit interest rates in recent times. Let's compare the interest rates over 7% given by the major commercial banks in the nation on fixed deposits of less than ₹2 Cr.

1/19Top 18 commercial banks with over 7% rates for retail investors

2/191. Bank of Baroda (BoB): The domestic FD rates of BoB are effective as of 26th December 2022. On 399 Days (Baroda Tiranga Plus Deposit Scheme), Bank of Baroda is giving a maximum interest rate of 7.05% for the general public and 7.55% for senior citizens.

3/192. Canara Bank: The FD rates of the bank are effective as of 19.12.2022. Canara Bank is now promising a maximum standard rate of 7% and 7.50% for senior citizens on deposits maturing in 666 days.

4/193. Punjab National Bank (PNB): The fixed deposit interest rates of PNB are in force from 19.12.2022. Currently, PNB is offering a maximum interest rate of 7% for non-senior citizens, 7.50% for senior citizens and 7.80% for super senior citizens on a tenor of 600 days.

5/194. Union Bank of India: The fixed deposit interest rates of the bank are in force since 25/11/2022. As of now, Union Bank of India is offering a maximum standard rate of 7.30% and 7.80% for senior citizens on a tenor of 800 days and 3 years respectively. (Mint)

6/195. Axis Bank: Axis Bank FD rates are effective as of 27/12/2022. Currently, the bank is promising a maximum interest rate of 7% for the general public and 7.75% for senior citizens on deposits maturing in 2 years to 10 years. (Bloomberg)

7/196. Bandhan Bank: As of November 7, 2022, the FD rates of Bandhan Bank are in force. The bank is now promising a maximum interest rate of 7.50% for the general public and 8.00% for senior citizens on a tenor of 600 days (1 year, 7 months, 22 days).

8/197. DCB Bank: The FD rates of DCB Bank are in force from 21st December, 2022. The bank is now promising a maximum interest rate of 7.85% for non-senior citizens and 8.35% for senior citizens on a tenor of more than 700 days to 36 months.

9/198. Dhanlaxmi Bank: The FD rates of Dhanlaxmi Bank are in force from 8.12.2022. On a tenor of 555 days, the bank is promising a maximum interest rate of 7.25% for the general public and 7.75% for senior citizens.

10/199. Federal Bank: Effective from 18-12-2022, the FD rates of Federal Bank are in force. The bank is offering a maximum interest rate of 7.25% for the general public and 7.75% for senior citizens on a tenor of 18 months to 2 years.

11/1910. HDFC Bank: HDFC Bank FD rates are effective as of 14th December 2022. The bank is offering a maximum interest rate of 7% for the general public on tenors of 15 months to 10 years, and 7.75% for senior citizens on a tenor of 5 years 1 day - 10 years. (MINT_PRINT)

12/1911. ICICI Bank: ICICI Bank FD rates are effective as of December 16, 2022. On tenors of 15 months to 5 years, the general public will get a maximum interest rate of 7% and senior citizens can earn as high as 7.50%.

13/1912. IDFC First Bank: Effective as of December 21, 2022, the FD rates of IDFC First Bank are in force. On deposits maturing in 18 months - 1 day- 3 years, the bank is promising a maximum interest rate of 7.50% for non-senior citizens and 8% for senior citizens. (MINT_PRINT)

14/1913. IndusInd Bank: Effective as of December 22nd 2022, the fixed deposit rates of IndusInd Bank are in force. On tenors of 2 Years up to 2 Years 1 Month, non-senior citizens can earn a maximum return of 7.25% and 7.85% can be earned by senior citizens. (Photo: Bloomberg)

15/1914. Karnataka Bank: The FD rates of the bank are effective as of 1st December, 2022. On a tenor of 555 days (KBL Centenary Deposit), Karnataka Bank is offering a maximum interest rate of 7.20% for the general public and 7.60% for senior citizens.

16/1915. Kotak Mahindra Bank: The FD rates of the bank are effective as of 15th Dec 2022. On deposits maturing in 390 Days (12 months 25 days) to 23 months, Kotak Mahindra Bank is offering a maximum interest rate of 7% for the general public and 7.50% for senior citizens. (MINT_PRINT)

17/1916. Karur Vysya Bank: Effective as of 10.11.2022, the fixed deposit interest rates of Karur Vysya Bank are in force. On a tenor of 555 days, the bank is offering a maximum interest rate of 7.25% for the general public and 7.65% for senior citizens.

18/1917. RBL Bank: The fixed deposit interest rates of the bank are in force since November 25, 2022. On tenors of 453 to 725 days, RBL Bank is promising a maximum interest rate of 7.55% for the general public and 8.05% for senior citizens.

19/1918. Yes Bank: The FD rates of Yes Bank are effective as of 9th December. On a special tenor of 30 months, the bank is offering a maximum interest rate of 7.50% for the general public and 8% for senior citizens.