Planning To Set Up A Fixed Deposit? Compare Top Banks' Interest Rates Here

India's top banks currently provide annual returns to the tune of 2.75-6.30 per cent on retail fixed deposits - also known as term deposits - up to Rs 2 crore. Lenders from the likes of state-run SBI and Punjab National Bank (PNB) to their private sector peers HDFC Bank, Kotak Mahindra Bank and ICICI Bank offer a variety of maturity periods for retail fixed deposits, starting from seven days. Lenders revise the interest rates applicable to fixed deposits from time to time. SBI, the country's largest bank by assets, for example, revised its interest rates applicable to fixed deposits last on May 27. 

India's top banks currently provide annual returns to the tune of 2.75-6.30 per cent on retail fixed deposits - also known as term deposits - up to Rs 2 crore. Lenders from the likes of state-run SBI and Punjab National Bank (PNB) to their private sector peers HDFC Bank, Kotak Mahindra Bank and ICICI Bank offer a variety of maturity periods for retail fixed deposits, starting from seven days. Lenders revise the interest rates applicable to fixed deposits from time to time. SBI, the country's largest bank by assets, for example, revised its interest rates applicable to fixed deposits last on May 27. 

Here's a comparison of the interest rates offered by these banks on retail fixed deposits (FDs up to Rs 2 crore):

State Bank Of India SBI Fixed Deposit Interest Rates

Punjab National Bank (PNB) Fixed Deposit Interest Rates

IDBI Bank Fixed Deposit Interest Rates

HDFC Bank Fixed Deposit Interest Rates

Kotak Mahindra Bank Fixed Deposit Interest Rates

ICICI Bank Fixed Deposit Interest Rates

Meanwhile, the Reserve Bank of India (RBI) in May lowered the repo rate - or the key interest rate at which it lends short-term funds to commercial banks - by 40 basis points to 4 per cent, the lowest since 2000.