Fixed Deposit (FD) Interest Rates: Here's What Public And Private Sector Banks Pay
Fixed deposit (FD) accounts offer higher returns as compared to savings accounts. FDs require investors to make a lump-sum investment for a pre-specified tenure and enable them to earn a fixed interest rate until that given period. Customers can avail fixed deposits from a minimum of seven days to 10 years. Interest payout frequencies that a customer can choose with fixed deposits are monthly, quarterly or at maturity. Most leading banks today, from public sector State Bank of India (SBI) to private sector peers HDFC Bank and ICICI Bank, offer an interest rate ranging from 3.50 per cent to 7.90 per cent for a tenure of one year, according to an analysis of interest rates displayed on their websites.
Given below are the latest interest rates offered by SBI, HDFC Bank, ICICI Bank and IndusInd Bank on fixed deposits (FDs):
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs 2 crore, according to the bank's website - sbi.co.in:
| Tenors | Revised For Public w.e.f. 22.02.2019 | Revised for Senior Citizens w.e.f. 22.02.2019 |
|---|---|---|
| 7 days to 45 days | 5.75% | 6.25% |
| 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 | 6.8% | 7.3% |
| 2 years to less than 3 years | 6.8% | 7.3% |
| 3 years to less than 5 years | 6.8% | 7.3% |
| 5 years and up to 10 years | 6.85% | 7.35% |
| (Source: sbi.co.in) | ||
HDFC Bank
The following FD interest rates are applicable on deposits below Rs 1 crore with effect from November 6, 2018 according to the bank's website - hdfcbank.com:
| Period | Interest rate on FD less than Rs. 1 Crore | |
|---|---|---|
| Â General public | 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 | 6.75% | 7.25% |
| 6 months 4 days | 6.75% | 7.25% |
| 6 months 5 days- 9 months | 6.75% | 7.25% |
| 9 months 1 day- 9 months 3 days | 7.10% | 7.60% |
| 9 months 4 days | 7.10% | 7.60% |
| 9 months 5 days - 9 months 15 days | 7.10% | 7.60% |
| 9 months 16 days | 7.10% | 7.60% |
| 9 months 17 days < 1 Year | 7.10% | 7.60% |
| 1 Year | 7.30% | 7.80% |
| 1 year 1 day - 1 year 3 days | 7.30% | 7.80% |
| 1 year 4 days | 7.30% | 7.80% |
| 1 year 5 days - 1 Year 15 days | 7.30% | 7.80% |
| 1 Year 16 days | 7.30% | 7.80% |
| 1 year 17 days - 2 Years | 7.30% | 7.80% |
| 2 years 1 day - 2 Years 15 days | 7.40% | 7.90% |
| 2 Years 16 days | 7.40% | 7.90% |
| 2 years 17 days - 3 Years | 7.40% | 7.90% |
| 3 years 1 day - 5 years | 7.25% | 7.75% |
| 5 Years 1 day - 8 Years | 6.50% | 7.00% |
| 8 Years 1 day - 10 Years | 6.50% | 7.00% |
| (Source: hdfcbank.com) | ||
ICICI Bank
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - icicibank.com:
| Rate of Interest (% p.a.) w.e.f November 15, 2018 | ||
|---|---|---|
| Tenure Period | General | 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 | 6% | 6.5% |
| 61 days to 90 days | 6.25% | 6.75% |
| 91 days to 120 days | 6.25% | 6.75% |
| 121 days to 184 days | 6.25% | 6.75% |
| 185 days to 289 days | 6.5% | 7% |
| 290 days to less than 1 year | 6.75% | 7.25% |
| 1 year to 389 days | 6.9% | 7.4% |
| 390 days to 2 years | 7.1% | 7.6% |
| 2 years 1 day up to 3 years | 7.5% | 8% |
| 3 years 1 day up to 5 years | 7.25% | 7.75% |
| 5 years 1 day up to 10 years | 7% | 7.5% |
| 5 years Tax saver FD (max up to Rs. 1.50 lakh) | 7.25% | 7.75% |
| (Source: icicibank.com) | ||
IndusInd Bank
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - indusind.com:
| Maturity period | Rates p.a.(%) on deposits less than 1 crore |
|---|---|
| 7 days to 14 days | 3.75% |
| 15 days to 30 days | 4.25% |
| 31 days to 45 days | 5.75% |
| 46 days to 60 days | 6% |
| 61 days to 90 days | 6.25% |
| 91 days to 120 days | 6.50% |
| 121 days to 180 days | 6.75% |
| 181 days to 210 days | 7.25% |
| 211 days to 269 days | 7.25% |
| 270 days or below 1 years | 7.50% |
| 1 Years to 1 Years 2 Months | 8% |
| Above 1 Years 2 Months to below 2 Years | 8% |
| 2 years to below 2 years 6 Months | 7.50% |
| 2 years 6 Months to below 2 years 9 Months | 7.50% |
| 2 years 9 Months to below 3 years | 7.50% |
| 3 years to below 61 month | 7.50% |
| 61 month and above | 7.25% |
| Indus Tax Saver Scheme (5 years) | 7.50% |
An additional interest rate of 0.50 per cent over and above the rates is applicable for fixed deposits of senior citizens for value below Rs 1 crore, noted the bank on its website.
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