Bank fixed deposit (FD) rates compared: What SBI, HDFC Bank, ICICI, Kotak offer

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A fixed deposit (FD) is an investment product offered by banks. In FDs, you know at the time of investing what interest rate you will get and how much money you will receive at the time of maturity. FD rates of banks are determined by changes in the Reserve Bank of India (RBI) monetary policy such as repo rate, base rate etc. State Bank of India (SBI), ICICI Bank, HDFC Bank and Kotak Mahindra Bank offer FD tenures ranging from 7 days to 10 years. FD interest rates of different banks vary by deposit amount, deposit tenure and type of depositor.

SBI latest FD rates

SBI FDs between 7 days to 10 years will give 2.9% to 5.4% to general customers. Senior citizens will get 50 basis points (bps) extra on these deposits. These rates are effective from 8 January 2021.

7 days to 45 days – 2.9%

46 days to 179 days – 3.9%

180 days to 210 days – 4.4%

211 days to less than 1 year – 4.4%

1 year to less than 2 years – 5%

2 years to less than 3 years – 5.1%

3 years to less than 5 years – 5.3%

5 years and up to 10 years – 5.4%

Kotak Mahindra Bank latest FD rates

Kotak Mahindra Bank gives interest rate ranging from 2.5% to 5.30% on term deposits maturing in 7 days to 10 years. These rates are applicable from 26 April 2021.

7 – 14 Days 2.50%

15 – 30 Days 2.50%

31 – 45 Days 2.75%

46 – 90 Days 2.75%

91 – 120 Days 3.00%

121 – 179 days 3.25%

180 Days 4.40%

181 Days to 269 Days 4.40%

270 Days 4.40%

271 Days to 363 Days 4.40%

364 Days 4.40%

365 Days to 389 Days 4.50%

390 Days (12 months 25 days) 4.80%

391 Days – Less than 23 Months 4.80%

23 Months 5.00%

23 months 1 Day- less than 2 years 5.00%

2 years- less than 3 years 5.00%

3 years and above but less than 4 years 5.10%

4 years and above but less than 5 years 5.25%

5 years and above up to and inclusive of 10 years 5.30%

HDFC Bank latest FD rates

HDFC Bank offers interest ranging from 2.50% to 5.50% on deposits maturing between 7 days and 10 years. These rates are effective from 13 November. HDFC Bank offers interest rates from 3% to 6.25% on FDs maturing in 7 days to 10 years to senior citizens.

7 – 14 days 2.50%

15 – 29 days 2.50%

30 – 45 days 3%

46 – 60 days 3%

61 – 90 days 3%

91 days – 6 months 3.5%

6 months 1 day – 9 months 4.4%

9 months 1 day <1 Year 4.4%

1 year – 4.9%

1 year 1 day – 2 years 4.9%

2 years 1 day – 3 years 5.15%

3 year 1 day- 5 years 5.30%

5 years 1 day – 10 years 5.50%

ICICI Bank latest FD rates

ICICI Bank gives interest rate ranging from 2.5% to 5.50% on deposits maturing in 7 days to 10 years. These rates are applicable from 21 October. Senior citizens will continue to get a 50 basis points (bps) higher interest rate than others.

7 days to 14 days – 2.50%

15 days to 29 days – 2.50%

30 days to 45 days – 3%

46 days to 60 days – 3%

61 days to 90 days- 3%

91 days to 120 days – 3.5%

121 days to 184 days – 3.5%

185 days to 210 days – 4.40%

211 days to 270 days – 4.40%

271 days to 289 days – 4.40%

290 days to less than 1 year – 4.40%

1 year to 389 days – 4.9%

390 days to <18 months - 4.9%

18 months days to 2 years – 5%

2 years 1 day to 3 years – 5.15%

3 years 1 day to 5 years – 5.35%

5 years 1 day to 10 years – 5.50%

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