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Highest FD interest rate comparison: Which bank is offering the highest interest rate on fixed deposits, see the list here

Highest FD interest rate: Several banks including Bank of Baroda, Kotak Mahindra Bank and Punjab National Bank have revised their fixed deposit rates. See new interest rate here

Bank FD interest rate: Many banks including Bank of Baroda, Kotak Mahindra Bank and Punjab National Bank have revised their fixed deposit rates even after the Reserve Bank of India kept the repo rates unchanged. While, some banks have followed the RBI policy and kept the rates unchanged and are waiting for more cues from the RBI.

Now, let us see which bank is offering the highest interest rate and on which tenure. Here is a quick comparison of banks that have hiked or lowered fixed deposit interest rates vs banks that have not revised the FD rates this month.

Punjab National Bank FD rates

PNB has revised fixed deposit interest rates on amounts below Rs 2 crore for regular citizens, senior and super senior citizens. PNB has increased interest rates of select fixed deposits (FDs) on certain tenures and has reduced rates on certain tenures. For deposits maturing in 444 days, the bank has hiked the interest rate by 45 bps to 7.25% from 6.80% for regular citizens. FDs maturing in 666 days, is reduced to 7.05% from 7.25%. The bank is offering highest interest rate of 7.25% on tenure of 444 days. The new rates are effective from May 18, 2023, according to the PNB website.

Sl. NoPeriodRevised Rates For Public W.E.F. 18.05.2023*Revised Rates For Senior Citizens W.E.F. 18.05.2023#Revised Rates For Super Senior Citizens W.E.F. 18.05.2023
17 to 14 days3.544.3
215 to 29days3.544.3
330 to 45 days3.544.3
446 to 90 days4.555.3
591 to 179 days4.555.3
6180 days to 270 Days5.566.3
7271 days to less than 1 year5.86.36.6
81 year6.87.37.6
9above 1 year to 443 days6.87.37.6
10444 days7.257.758.05
11445 days to 665 days6.87.37.6
12666 days7.057.557.85
13667 days to 2 years6.87.37.6
14above 2 year & upto 3 years77.57.8
15above 3 year & upto 5 years6.577.3
16above 5 years & upto 10 years6.57.37.3

 

Bank of Baroda FD rates

Bank of Baroda has increased the interest rates on its fixed deposits (FDs) of up to Rs 2 crore. Following the change, the FD interest rate highest offered is 7.25 per cent for the general public. Senior citizens can earn up to 7.75 per cent on fixed deposits in the Bank of Baroda. The revised interest rates on fixed deposits are effective from May 12. On the special deposit dubbed as Baroda Tiranga Plus Deposit Scheme for a tenure of 399 days, Bank of Baroda offers the highest interest rate of 7.25 per cent.

TenorsResidents / General PublicResident Indian Sr. Citizen
7 days to 14 days33.50*
15 days to 45 days33.50*
46 days to 90 days4.55.00*
91 days to 180 days4.55.00*
181 days to 210 days5.255.75*
211 days to 270 days5.756.25*
271 days & above and less than 1 year5.756.25*
1 year6.757.25*
Above 1 year to 400 days6.757.25*
Above 400 days and upto 2 Years6.757.25*
Above 2 Years and upto 3 Years7.057.55*
Above 3 Years and upto 5 Years6.57.15 #
Above 5 Years and upto 10 Years6.57.50***
Above 10 years (MACT/MACAD6.256.75*
Court Order schemes only)
399 Days (Baroda Tiranga Plus Deposit Scheme)7.257.75*

 

Kotak Mahindra Bank FD rates

Kotak Mahindra Bank has increased its fixed deposit interest rate by 50 basis points (bps) on one tenure.

Kotak Mahindra Bank offers an interest rate between 2.75% to 7.20% to general citizens and 3.25% to 7.70% for senior citizens. The highest interest rate of 7.20% is offered on tenure of 390 days to less than 2 years for general citizens. The revised interest rate will be applicable for deposits below Rs 2 crore from May 11, 2023.

Maturity PeriodsRegularSenior Citizen*
7 – 14 Days2.75%3.25%
15 – 30 Days3.00%3.50%
31 – 45 Days3.25%3.75%
46 – 90 Days3.50%4.00%
91 – 120 Days4.00%4.50%
121 – 179 days4.25%4.75%
180 Days7.00%7.50%
181 Days to 269 Days6.00%6.50%
270 Days6.00%6.50%
271 Days to 363 Days6.00%6.50%
364 Days6.50%7.00%
365 Days to 389 Days7.10%7.60%
390 Days (12 months 25 days)7.20%7.70%
391 Days – Less than 23 Months7.20%7.70%
23 Months7.20%7.70%
23 months 1 Day- less than 2 years7.20%7.70%
2 years- less than 3 years7.00%7.50%
3 years and above but less than 4 years6.50%7.00%
4 years and above but less than 5 years6.25%6.75%
5 years and above upto and inclusive of 10 years6.20%6.70%

 

Axis Bank FD rates

Axis Bank has decreased its fixed deposit interest rate for a single term by 20 basis points, an unexpected move at a time when other banks are raising or even maintaining their fixed deposit interest rates. The latest FD interest rates are effective from May 18, 2023.

After the revision, Axis Bank offers interest rates between 3.5% to 7.10% on tenures ranging from 7 days to 10 years.

Below are the banks such as SBI, HDFC Bank and ICICI Bank that have not revised fixed deposit rates since February, 2023.

SBI FD rates

State Bank of India offers interest rate between 3% to 7.10% (including Amrit Kalash deposits) for general citizens for tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The highest interest rate of 7.10% is offered on tenure of 400days on Amrit Kalash deposits which is valid till June 30, 2023. The rates are effective from February 15, 2023.

GeneraSenior
TenorsRates w.e.f. 15/02/2023Rates w.e.f. 15/02/2023
7 days to 45 days33.5
46 days to 179 days4.55
180 days to 210 days5.255.75
211 days to less than 1 year5.756.25
1 Year to less than 2 years6.87.3
2 years to less than 3 years77.5
3 years to less than 5 years6.57
5 years and up to 10 years6.57.50@
400 days (Special Scheme i.e. “ Amrit Kalash”)7.17.6

 

HDFC Bank FD rates

HDFC Bank offers interest rates between 3% to 7.10% for general citizens for tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The highest interest rate of 7.10% is offered on tenure of 15 months to less than 18 months. The rates are effective from February 21, 2023.

Tenor Bucket< 2 Crore
Interest Rate (per annum)Senior Citizen Rates (per annum)
7 – 14 days3.00%3.50%
15 – 29 days3.00%3.50%
30 – 45 days3.50%4.00%
46 – 60 days4.50%5.00%
61 – 89 days4.50%5.00%
90 days < = 6 months4.50%5.00%
6 mnths 1 days <= 9 mnths5.75%6.25%
9 mnths 1 day to < 1 year6.00%6.50%
1 year to < 15 months6.60%7.10%
15 months to < 18 months7.10%7.60%
18 months to < 21 months7.00%7.50%
21 months – 2 years7.00%7.50%
2 years 1 day – 3 years7.00%7.50%
3 year 1 day to – 5 years7.00%7.50%
5 year 1 day – 10 years7.00%7.75%*

 

ICICI Bank FD rates

ICICI Bank offers interest rates between 3% to 7.10% for general citizens for tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The highest interest rate of 7.10% is offered on tenure of 15 months to less than 18 months. The rates are effective from February 24, 2023.

TenureGeneral**Senior Citizen
7 days to 14 days3.00%3.50%
15 days to 29 days3.00%3.50%
30 days to 45 days3.50%4.00%
46 days to 60 days4.25%4.75%
61 days to 90 days4.50%5.00%
91 days to 120 days4.75%5.25%
121 days to 150 days4.75%5.25%
151 days to 184 days4.75%5.25%
185 days to 210 days5.75%6.25%
211 days to 270 days5.75%6.25%
271 days to 289 days6.00%6.50%
290 days to less than 1 year6.00%6.50%
1 year to 389 days6.70%7.20%
390 days to < 15 months6.70%7.20%
15 months to < 18 months7.10%7.60%
18 months to 2 years7.10%7.60%
2 years 1 day to 3 years7.00%7.50%
3 years 1 day to 5 years7.00%7.50%
5 years 1 day to 10 years6.90%#7.50%
5 Years (80C FD) – Max to `1.50 lac7.00%7.50%
Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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