Fixed deposit or FDs are usually for risk-averse investors. If you need an assured return on your investment, you should invest your money in bank fixed deposits. FD interest rates vary across banks and tenures. FD interest rates are subject to change from time to time. Private sector lenders HDFC Bank and Axis Bank have released their new fixed deposit or FD interest rates this month. However, the largest lender of the country, State Bank of India (SBI) and private sector lender ICICI Bank have not revised their FD interest rates so far in October.
Given below is a comparison of latest FD interest rates offered by SBI, HDFC Bank, ICICI Bank and Axis Bank:
State Bank of India
The following FD interest rates are applicable on deposits below Rs 1 crore as stated on sbi.co.in:
| Tenors | Revised For Public w.e.f. 30.07.2018 | Revised for Senior Citizens w.e.f. 30.07.2018 |
|---|---|---|
| 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 | 6.7 | 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 |
(Also Read: SBI Returns On Money Deposit In Different Accounts Compared)
HDFC Bank
The following FD interest rates are for deposits below Rs 1 crore with effect from October 6, as stated on hdfcbank.com:
| Period | < 1 Crore | |
|---|---|---|
| Interest Rate (per annum) | **Senior Citizen Rates (per annum) | |
| 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 mnths 1 day- 6 mnths 3 days | 6.75% | 7.25% |
| 6 mnths 4 days | 6.75% | 7.25% |
| 6 mnths 5 days- 9 mnths | 6.75% | 7.25% |
| 9 mnths 1 day- 9 mnths 3 days | 7.00% | 7.50% |
| 9 mnths 4 days | 7.00% | 7.50% |
| 9 months 5 days - 9 months 15 days | 7.00% | 7.50% |
| 9 months 16 days | 7.00% | 7.50% |
| 9 months 17 days < 1 Year | 7.00% | 7.50% |
| 1 Year | 7.25% | 7.75% |
| 1 year 1 day - 1 year 3 days | 7.25% | 7.75% |
| 1 year 4 days | 7.25% | 7.75% |
| 1 year 5 days - 1 Year 15 Days | 7.25% | 7.75% |
| 1 Year 16 days | 7.25% | 7.75% |
| 1 year 17 days - 2 Years | 7.25% | 7.75% |
| 2 years 1day - 2 Years 15 days | 7.10% | 7.60% |
| 2 Years 16 days | 7.10% | 7.60% |
| 2 years 17 days - 3 Years | 7.10% | 7.60% |
| 3 years 1 day - 5 years | 7.10% | 7.60% |
| 5 Years 1 Day - 8 Years | 6.00% | 6.50% |
| 8 Years 1 Day - 10 Years | 6.00% | 6.50% |
(Also Read: Zero Balance Savings Account: SBI Vs HDFC Bank Vs ICICI Bank)
ICICI Bank
The following FD interest rates are for deposits below Rs 1 crore as stated on icicibank.com:
| Tenure Period | Rate of Interest (% p.a.) w.e.f August 14, 2018 | |
|---|---|---|
| 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 | 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 | 6.5 | 7 |
| 290 days to less than 1 year | 6.75 | 7.25 |
| 1 year to 389 days | 6.75 | 7.25 |
| 390 days to 2 years | 7 | 7.5 |
| 2 years 1 day upto 5 years | 7.25 | 7.75 |
| 5 years 1 day upto 10 years | 7 | 7.5 |
| 5 Years Tax saver FD(Max upto Rs. 1.50 lac) | 7.25 | 7.75 |
Axis Bank
The following FD interest rates on deposits below Rs 1 crore are with effect from October 1, according to axisbank.com :
| PERIOD | INTEREST RATES (% P.A.) | |
|---|---|---|
| GENERAL | SENIOR CITIZENS | |
| 7 days to 14 days | 3.5 | 3.5 |
| 15 days to 29 days | 3.5 | 3.5 |
| 30 days to 45 days | 5.5 | 5.5 |
| 46 days to 60 days | 6.25 | 6.25 |
| 61 days < 3 months | 6.25 | 6.25 |
| 3 months < 4 months | 6.25 | 6.25 |
| 4 months < 5 months | 6.25 | 6.25 |
| 5 months < 6 months | 6.25 | 6.25 |
| 6 months < 7 months | 6.75 | 7 |
| 7 months < 8 months | 6.75 | 7 |
| 8 months < 9 months | 6.75 | 7 |
| 9 months < 10 months | 7 | 7.25 |
| 10 months < 11 months | 7 | 7.25 |
| 11 months < 1 year | 7 | 7.25 |
| 1 year < 1 year 5 days | 7.25 | 7.9 |
| 1 year 5 days < 1 year 11 days | 7.5 | 8.15 |
| 1 year 11 days < 13 months | 7.25 | 7.9 |
| 13 months < 14 months | 7.3 | 7.95 |
| 14 months < 15 months | 7.25 | 7.9 |
| 15 months < 16 months | 7.25 | 7.9 |
| 16 months < 17 months | 7.25 | 7.9 |
| 17 months < 18 months | 7.55 | 8.2 |
| 18 Months < 2 years | 7.25 | 7.9 |
| 2 years < 30 months | 7.25 | 7.9 |
| 30 months < 3 years | 7.25 | 7.75 |
| 3 years < 5 years | 7.25 | 7.75 |
| 5 years to 10 years | 7 | 7.5 |
India Post also revised its FD interest rates with effect from October 1.
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