Fixed Deposit (FD) Interest Rates: SBI Vs Kotak Mahindra Bank Vs HDFC Bank Vs ICICI Bank

Fixed deposits (FDs) are secure financial instruments, which offer guaranteed returns. FD interest rates vary according to the tenure of the fixed deposit and across banks. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period. Recently, State Bank of India, country's largest lender, revised its fixed deposit interest rates. The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act. Here is a comparison of fixed deposit (FD) rates offered by State Bank of India (SBI), Kotak Mahindra Bank, HDFC Bank and ICICI Bank : Fixed deposit (FD) rates offered by State Bank of India (Below Rs. 1 crore): Revised from July 30, 2018:

Term	Interest rate for general public (% per annum)	Interest rate for senior citizens (% per annum)
46 days to 179 days	6.25	6.75
180 days to 210 days	6.35	6.85
211 days to less than 1 year	6.4	6.9
1 year to less than 2 year	6.7	7.2
2 years to less than 3 years	6.75	7.25
3 years to less than 5 years	6.8	7.3
5 years and up to 10 years	6.85	7.35

Fixed deposit (FD) rates offered by Kotak Mahindra Bank (Below Rs. 1 crore):

Revised interest rates for domestic / NRO / NRE fixed deposits from July 26, 2018:

Maturity Periods - Premature Withdrawal Allowed	Regular	Senior Citizen*
	Less than Rs.1 Crore	Less than Rs.1 Crore
7 - 14 Days	3.50%	4.00%
15 - 30 Days	4.00%	4.50%
31 - 45 Days	5.00%	5.50%
46 - 90 Days	5.50%	6.00%
91 - 120 Days	6.00%	6.50%
121 - 179 days	6.25%	6.75%
180 Days	6.50%	7.00%
181 Days to 269 Days	6.60%	7.10%
270 Days	6.75%	7.25%
271 Days to 363 Days	6.75%	7.25%
364 Days	7.00%	7.50%
365 Days to 389 Days	7.25%	7.75%
390 Days (12 months 25 days)	7.25%	7.75%
391 Days - Less than 23 Months	7.25%	7.75%
23 Months	7.30%	7.80%
23 months 1 Day- less than 2 years	7.30%	7.80%
2 years- less than 3 years	7.00%	7.50%
3 years and above but less than 4 years	7.00%	7.50%
4 years and above but less than 5 years	7.00%	7.50%
5 years and above up to and inclusive of 10 years	6.50%	7.00%

Fixed deposit (FD) rates offered by HDFC Bank (Less than Rs. 1 crore):

	"Rate of Interest (% p.a.) w.e.f July 6	2018"
Tenure	Interest rate for general public	Interest rate for senior citizen
7 - 14 days	3.50%	4.00%
15 - 29 days	4.25%	4.75%
30 - 45 days	5.75%	6.25%
46 - 60 days	6.25%	6.75%
61 - 90 days	6.25%	6.75%
91 days - 6 months	6.25%	6.75%
6 months 1 day- 6 months 3 days	6.35%	6.85%
6 months 4 days	6.35%	6.85%
6 months 5 days- 9 months	6.40%	6.90%
9 months 1 day- 9 months 3 days	6.40%	6.90%
9 months 4 days	6.40%	6.90%
9 months 5 days - 9 months 15 days	6.40%	6.90%
9 months 16 days	6.40%	6.90%
9 months 17 days < 1 Year	6.40%	6.90%
1 Year	6.85%	7.35%
1 year 1 day - 1 year 3 days	6.65%	7.15%
1 year 4 days	6.65%	7.15%
1 year 5 days - 1 Year 15 Days	6.65%	7.15%
1 Year 16 days	6.65%	7.15%
1 year 17 days - 2 Years	7.00%	7.50%
2 years 1day - 2 Years 15 days	7.00%	7.50%
2 Years 16 days	7.00%	7.50%
2 years 17 days - 3 Years	7.00%	7.50%
3 years 1day - 5 years	7.00%	7.50%
5 Years 1 Day - 8 Years	6.00%	6.50%
8 Years 1 Day - 10 Years	6.00%	6.50%
(Source: hdfcbank.com)

Fixed deposit (FD) rates offered by ICICI Bank:

	"Rate of Interest (% p.a.) w.e.f June 07	2018"
Tenure	General public	Senior Citizen
7 days to 14 days	4	4.5
15 days to 29 days	4.25	4.75
30 days to 45 days	5.5	6
46 days to 60 days	5.75	6.25
61 days to 90 days	6	6.5
91 days to 120 days	6	6.5
121 days to 184 days	6	6.5
185 days to 289 days	6.25	6.75
290 days to less than 1 year	6.5	7
1 year to 389 days	6.6	7.1
390 days to 2 years	6.75	7.25
2 years 1 day upto 5 years	7	7.5
5 years 1 day upto 10 years	7	7.5
5 Years Tax saver FD(Max upto Rs. 1.50 lac)	7	7.5
(Source: icicibank.com)