Fixed Deposit (FD) Interest Rates Paid By Key Banks Compared
Fixed deposits or FDs are secure financial instruments offered by public, private sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns. Fixed deposit interest rates are subject to change from time to time. Private sector lender Axis Bank revised its fixed deposit (FD) interest rates with effect from February 9, 2019. Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.
Here's a comparison of interest rates offered by Axis Bank, SBI, PNB, HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:
Axis Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore:
| Interest rates (with effect from February 09, 2019) | ||
|---|---|---|
| Period | General Public | 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 | 7.1 | 7.35 |
| 10 months < 11 months | 7.1 | 7.35 |
| 11 months < 1 year | 7.1 | 7.35 |
| 1 year < 1 year 5 days | 7.3 | 7.95 |
| 1 year 5 days < 1 year 11 days | 7.3 | 7.95 |
| 1 year 11 days < 13 months | 7.3 | 7.95 |
| 13 months < 14 months | 7.35 | 8 |
| 14 months < 15 months | 7.3 | 7.95 |
| 15 months < 16 months | 7.3 | 7.95 |
| 16 months < 17 months | 7.3 | 7.95 |
| 17 months < 18 months | 7.3 | 7.95 |
| 18 Months < 2 years | 7.3 | 7.95 |
| 2 years < 30 months | 7.5 | 8.15 |
| 30 months < 3 years | 7.5 | 8 |
| 3 years < 5 years | 7.25 | 7.75 |
| 5 years to 10 years | 7.25 | 7.75 |
State Bank of India
Given below are the latest SBI FD interest rates on deposits below Rs. 1 crore:
| Tenors | Revised For Public w.e.f. 28.11.2018 | Revised for Senior Citizens w.e.f. 28.11.2018 |
|---|---|---|
| 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 | 6.8 | 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) | ||
Punjab National Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore:
| Interest rate applicable to domestic fixed deposits with effect from February 1, 2019) | ||
| Maturity period (term) | For general public | For senior citizens |
|---|---|---|
| 7 to 14 days | 5.75% | 6.25% |
| 15 to 29 days | 5.75% | 6.25% |
| 30 to 45 days | 5.75% | 6.25% |
| 46 to 90 days | 6.35% | 6.85% |
| 91 to 179 days | 6.35% | 6.85% |
| 111 days | 6.5% | 7% |
| 180 days to 270 Days | 6.35% | 6.85% |
| 222 days | 6.6% | 7.1% |
| 271 days to less than 1 year | 6.35% | 6.85% |
| 333 days | 7.1% | 7.6% |
| 1 year | 6.75% | 7.25% |
| 555 days (effective for a period of 01.11.2018 to 31.03.2019) | 6.85% | 7.35% |
| above 1 year & up to 3 years | 6.75% | 7.25% |
| above 3 year & up to 5 years | 6.25% | 6.75% |
| above 5 years & up to 10 years | 6.25% | 6.75% |
| (Source: pnbindia.in) | Â | Â |
HDFC Bank
The following FD interest rates are applicable on deposits from November 6, 2018:
| 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:
| 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) | ||
Meanwhile, the government, in the interim Budget, proposed to increase the limit for tax deduction at source (TDS) on interest income from Rs. 10,000 to Rs. 40,000 per annum.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
