SBI vs HDFC vs ICICI vs Kotak: Current Interest Rates On FDs Compared

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SBI vs HDFC vs ICICI vs Kotak: Current Interest Rates On FDs Compared

On retail fixed deposits, which are term deposits up to Rs 2 crore, India’s top lenders currently offer annual returns at the rate of 2.5-6.3 percent. Among other considerations, the State Bank of India, HDFC Bank, ICICI Bank and Kotak Mahindra Bank, the largest banks in the country by market size, offer marginally higher returns to senior citizens relative to general customers and adjust interest rates from time to time in order to conform them with benchmarks. However, these commercial bank FDs comes with a tenure option ranging from seven days to 10 years for both general public and senior citizens too. So let’s check out the current annual returns on retail FDs provided by India’s largest banks.

Also read: 4 Best Small Finance Bank FDs With Interest Rates Up To 8.24%

Also read: Top Banks That Are Currently Providing Higher Interest Rates On FDs

SBI FDs Interest Rates

Tenure ROI With Effect From September 10
General Public Senior citizen
Seven days to 45 days 2.9% 3.4%
46 days to 179 days 3.9% 4.4%
180 days to 210 days 4.4% 4.9%
211 days to less than one year 4.4% 4.9%
One year to less than two years 4.9% 5.4%
Two years to less than three years 5.1% 5.6%
Three years to less than five years 5.3% 5.8%
Five years and up to 10 years 5.4% 6.2%

HDFC FDs Interest Rates

Tenure ROI (With Effect From November 13)
General Public Senior citizen
Seven days to 14 days 2.50% 3.00%
15 days to 29 days 2.50% 3.00%
30 days to 45 days 3.00% 3.50%
46 days to 60 days 3.00% 3.50%
61 days to 90 days 3.00% 3.50%
91 days to six months 3.50% 4.00%
Six months one day to nine months 4.40%  4.90%
Nine months one day to less than one year 4.40% 4.90%
One year 4.90%  5.40%
One year one day to two years 4.90%  5.40%
Two years one day to three years 5.15%  5.65%
Three years one day to five years 5.30%  5.80%
Five years one day to 10 years 5.50%  6.25%

ICICI Bank FDs Interest Rates

Tenure ROI With Effect From October 21
General Public Senior citizen
Seven to 14 days 2.50% 3%
15 to 29 days 2.50% 3%
30 to 45 days 3% 3.50%
46 to 60 days 3% 3.50%
61 to 90 days 3% 3.50%
91 to 120 days 3.50% 4%
121 to 184 days 3.50% 4%
185 to 210 days 4.40% 4.90%
211 to 270 days 4.40% 4.90%
271 to 289 days 4.40% 4.90%
290 days to less than one year 4.40% 4.90%
One year to 389 days 4.90% 5.40%
390 days to less than 18 months 4.90% 5.40%
18 months and one day to two years 5% 5.50%
Two years and one day to three years 5.15% 5.65%
Three years and one day to five years 5.35% 5.85%
Five years and one day to 10 years 5.50% 6.30%
Five years tax-saver FD (maximum Rs 1.50 lakh) 5.35% 5.85%

Kotak Mahindra Bank FDs Interest Rates

Tenure ROI With Effect From November 4
Seven to 14 days 2.50%
15 to 30 days 2.50%
31 to 45 days 2.75%
46 to 90 days 2.75%
91 to 120 days 3.50%
121 to 179 days 3.50%
180 days 4.50%
181 to 269 days 4.50%
270 days 4.50%
271 to 363 days 4.50%
364 days 4.50%
365 to 389 days 4.60%
390 days (12 months and 25 days) 4.90%
391 days to less than 23 months 4.90%
23 months 4.90%
23 months and one day to less than two years 4.90%
Two years to less than three years 4.90%
Three years and above but less than four years 4.90%
Four years and above but less than five years 4.75%
Five years and above up to 10 years 4.50%

 

Note: This year since February, the RBI has lowered the repo rate – or the primary interest rate at which it lends money to banks – by a record of 115 basis points, up from 135 basis points last year. This has prompted banks to reduce their FD rates as well.

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