HDFC Bank's FY26 total dividend yield stands at 1.97%, ahead of ICICI Bank and Axis Bank, but below the highest fixed deposit rates available in 2026. That gap keeps the debate alive for investors choosing between regular cash payouts and assured deposit returns.
The latest dividend announcements from three of India's largest private lenders show equity income remains lower than leading FD returns, even as banks continue rewarding shareholders. The highest FD rate in the data reviewed by NDTV Profit stands at 8.10%, while several lenders offer more than 7%.
HDFC Bank said its board recommended a final dividend of Rs 13 per equity share of Re 1 for the year ended March 31, 2026, subject to shareholder approval at the forthcoming annual general meeting.
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The bank had already paid a special interim dividend of Rs 2.50 per share on Aug. 11, 2025, adjusted for bonus. With that, the total FY26 dividend stands at Rs 15.50 per share.
Based on the current share price, HDFC Bank's dividend yield stands at 1.97%.
ICICI Bank said its board recommended a dividend of Rs 12 per equity share of face value Rs 2, subject to requisite approvals. Based on the current market price, the dividend yield stands at 0.9%.
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The latest payout keeps focus on how lenders are distributing profits to shareholders. HDFC Bank's combined interim and final payout placed it ahead on disclosed FY26 figures, while ICICI Bank continued its annual payout trend.
For Axis Bank, the dividend yield stands at 0.07% after the lender on Saturday announced a dividend of Rs 1 per share.
Dividend yield often draws attention because it shows the cash return investors receive against the market price of a share. On that measure, HDFC Bank leads among the three lenders based on current disclosures after the FY26 announcements.
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