This is a comparison among fixed deposit (FD) interest rates of SBI, ICICI Bank, HDFC Bank and Axis Bank.
Axis Bank has revised its fixed deposit (FD) interest rates with effect from June 1, 2018, following in the foot steps of State Bank of India (SBI) which hiked its FD interest rates effective May 28, 2018.
Since SBI is the largest lender of the country, other banks may also follow the league.
ICICI Bank has not hiked its interest rates since December 11, 2017.
HDFC Bank hiked its fixed deposit interest rates in April-end.
Given below are fixed deposit interest rates offered by SBI, ICICI Bank, HDFC Bank and Axis Bank:Fixed deposit interest rates offered by SBI(All figures in % per annum)TenorsExisting for Public w.e.f.
28.03.2018Revised For Public w.e.f.
28.05.2018Existing for Senior Citizens w.e.f.
28.03.2018Revised for Senior Citizens w.e.f.
28.05.20187 days to 45 days5.755.756.256.2546 days to 179 days6.256.256.756.75180 days to 210 days6.356.356.856.85211 days to less than 1 year6.46.46.96.91 year to less than 2 year6.46.656.97.152 years to less than 3 years6.66.657.17.153 years to less than 5 years6.76.77.27.25 years and up to 10 years6.756.757.257.25Fixed deposit interest rates offered by ICICI BankTenure PeriodRate of Interest (% p.a.) w.e.f December 11, 2017GeneralSenior Citizen*7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days5.756.2561 days to 90 days66.591 days to 120 days66.5121 days to 184 days66.5185 days to 289 days6.256.75290 days to less than 1 year6.571 year to 389 days6.67.1390 days to 2 years6.757.252 years 1 day upto 5 years6.575 years 1 day upto 10 years6.575 Years Tax saver FD(Max upto Rs.
1.50 lac)6.57Fixed deposit interest rates offered by HDFC BankPeriod< 1 CroreInterest Rate**Senior Citizen Rates(per annum)(per annum)7 - 14 days3.50%4.00%15 - 29 days4.25%4.75%30 - 45 days5.50%6.00%46 - 60 days5.75%6.25%61 - 90 days5.75%6.25%91 days - 6 months5.75%6.25%6 mnths 1 day- 6 mnths 3 days6.00%6.50%6 mnths 4 days6.00%6.50%6 mnths 5 days- 9 mnths6.00%6.50%9 mnths 1 day- 9 mnths 3 days6.00%6.50%9 mnths 4 days6.00%6.50%9 months 5 days - 9 months 15 days6.00%6.50%9 months 16 days6.25%6.75%9 months 17 days < 1 Year6.25%6.75%1 Year6.85%7.35%1 year 1 day - 1 year 3 days6.50%7.00%1 year 4 days6.25%6.75%1 year 5 days - 1 Year 15 Days6.25%6.75%1 Year 16 days6.25%6.75%1 year 17 days - 2 Years7.00%7.50%2 years 1day - 2 Years15 days7.00%7.50%2 Years16 days7.00%7.50%2 years17 days - 3 Years7.00%7.50%3 years 1day - 5 years7.00%7.50%5 Years 1 Day - 8 Years6.00%6.50%8 Years 1 Day - 10 Years6.00%6.50%Fixed deposit interest rates offered by Axis BankDEPOSITS LESS THAN 5 CRORES W.E.F.
01/06/2018**PERIODINTEREST RATES (% P.A.)DEPOSITSDEPOSITS OF RS.
1BELOW RS.
1 CRORECRORE < RS.5 CRORES7 days to 14 days3.55.515 days to 29 days3.55.530 days to 45 days5.5646 days to 60 days66.361 days < 3 months66.53 months < 4 months66.754 months < 5 months66.755 months < 6 months66.756 months < 7 months6.256.97 months < 8 months6.256.98 months < 9 months6.256.99 months < 10 months6.56.910 months < 11 months6.56.911 months < 1 year6.56.91 year < 12 months 5 days7.17.312 months 5 days < 12 months 11 days7.47.612 months 11 days < 13 months7.17.313 months < 14 months7.17.314 months < 15 months77.2515 months < 16 months77.2516 months < 17 months77.2517 months < 18 months77.2518 Months < 2 years77.252 years < 30 months77.2530 months < 3 years77.253 years < 5 years775 years to 10 years77DEPOSITS SENIOR CITIZENS LESS THAN 5 CRORES* W.E.F.
01/06/2018**PERIODINTEREST RATES (% P.A.)DEPOSITSDEPOSITS OF RS.
IBELOW RS.
1 CRORECRORE < RS.5 CRORES7 days to 14 days3.55.515 days to 29 days3.55.530 days to 45 days5.5646 days to 60 days66.361 days < 3 months66.53 months < 4 months66.754 months < 5 months66.755 months < 6 months66.756 months < 7 months6.57.157 months < 8 months6.57.158 months < 9 months6.57.159 months < 10 months6.757.1510 months < 11 months6.757.1511 months < 1 year6.757.151 yeor < 12 months 5 days7.757.9512 months 5 days < 12 months 11 days8.058.2512 months 11 days < 13 months7.757.9513 months < 14 months7.757.9514 months < 15 months7.657.915 months < 16 months7.657.916 months < 17 months7.657.917 months < 18 months7.657.918 Months < 2 years7.657.92 years < 30 months7.657.930 months < 3 years7.57.753 years < 5 years7.57.55 years to 10 years7.57.5Post offices also offer fixed deposits at an interest rate ranging from 6.60-7.40 per cent.
However, some small finance banks offer as much as 9 per cent interest on their fixed deposits.