There is good news for the customers of HDFC Bank and ICICI Bank. Actually, the bank has increased the interest rates on its Fixed Deposits (FDs).
New Delhi: There is news of work for bank customers. Two big private sector banks HDFC Bank and ICICI Bank have increased the interest rates on their fixed deposits. That is, if you have made an FD in any of these two banks, then you will now get more returns when the FD matures.
HDFC and ICICI are major private sector banks. The competition of these banks is now directly with the largest public sector bank State Bank of India (SBI). Now both these banks are also giving tremendous profits (Fixed Deposit Interest Rates). Let us tell about the interest rates available on FDs of different tenures of these banks. With this you can choose a better option for yourself.
Who is getting how much return?
After revising the interest rates, HDFC Bank is offering interest ranging from 2.50 per cent to 5.50 per cent for tenures ranging from 7 days to 10 years. At the same time, interest on FDs of senior citizens ranges from 3% to 6.25 percent for a period ranging from 7 days to 10 years. These new rates have come into effect from December 1, 2021.
Along with this, ICICI Bank has also changed its interest rates. ICICI Bank is offering 2.5 percent to 5.5 percent interest for 7 days to 10 years, while 50 basic points (bps) higher interest rate for senior citizens. Let us have a look at the rates of both the banks.
HDFC Bank FD Rates
HDFC Bank offers interest on FDs below Rs 2 crore in the following manner:
- 2.50% for 7 to 14 days and 3.00% for senior citizens.
- 2.50% and 3.00% for 15 – 29 days,
- 3% and 3.50% for 30 – 45 days,
- 46 – 3% and 3.50% for 60 days,
- 3% and 3.50% for 61 – 90 days,
- 3.50% and 4% for 91 days to 6 months,
- 4.40% and 4.90% for 6 months and 1 day to 9 months,
- 4.40% and 4.90% for periods less than 9 months and 1 day to 1 year,
- 4.90% and 5.40% for 1 year,
- 5.15% and 5.65% for 2 years from 1 year and one day,
- 5.65% and 4.75% for 3 years from 2 years and one day,
- 5.35% and 4.85% for 5 years from 3 years and one day,
- 5.50% for 10 years and 6.25%* for senior citizens from 5 years and 1 day.
Fixed Deposit Rates of ICICI Bank
ICICI Bank offers interest on FDs below Rs 2 crore in the following ways:
- 7 to 14 days = 2.50% – 3.00%
- 15 to 29 days = 2.50% – 3.00%
- For 30 days to 45 days = 3.00% – 3.50%
- For 46 days to 60 days = 3.00% – 3.50%
- For 61 days to 90 days = 3.00% – 3.50%
- For 91 days to 120 days = 3.50% – 4.00%
- For 121 days to 150 days = 3.50% – 4.00%
- 151 days to 184 days = 3.50% – 4.00%
- 185 days to 210 days = 4.40% – 4.90%
- For 211 days to 270 days = 4.40% – 4.90%
- For 271 days to 289 days = 4.40% – 4.90%
- 290 days to less than 1 year = 4.40% – 4.90%
- For 1 year to 389 days = 4.90% – 5.40%
- From 390 days to less than 15 months = 4.90% – 5.40%
- From 15 months to less than 18 months = 4.90% – 5.40%
- 18 months to 2 years = 5.00%-5.50%
- 2 years 1 day to 3 years = 5.20% – 5.70%
- 3 years 1 day to 5 years = 5.40% – 5.90%
- 5 years 1 day to 10 years = 5.60% – 6.30%
- 5 Years (80C FD) – Maximum up to 1.50 Lakh = 5.40% & 5.90%
