After the Reserve Bank of India (RBI) rate cut in August, all the major banks are slashing interest rates on fixed deposit (FD) account on a regular basis. State Bank of India (SBI), HDFC Bank, Axis Bank, Punjab National Bank (PNB) and Kotak Mahindra Bank are some of the banks which tweaked FD interest rates for different tenure this month.
SBI latest FD interest rates
For FDs maturing in 7 days to 45 days and 46 days to 179 days, SBI gives 4.50% and 5.50% interest respectively. For deposits maturing in 180 days to less than 1 year, SBI offers an interest rate of 5.80%. For FDs maturing in 1 year to less than 2 year, the bank gives 6.50% interest. For FDs maturing in 2 years to 10 years, SBI gives 6.25% interest.
HDFC Bank latest FD interest rates
HDFC Bank offers 3.50% interest rate deposits between 7 days and 14 days. For 15 days to 29 days maturity FDs, HDFC Bank is offering 4.25%, 30 days to 45 days 5.15%, 46 days to 6 months 5.65%, six months one day to nine months 6.25% and nine months one day to less than 1 year 6.35%. For FDs with maturity period 1 year and 2 years, the bank gives 6.60% interest. For deposits maturing in 2 years 1 day to 3 years and 3 year 1 day to 5 years, HDFC Bank gives 7.00% and 6.9% interest respectively. For 5 years 1 day to 10 years deposits, the bank will offer an interest rate of 7.00%
Axis Bank latest FD interest rates
Axis Bank offers 3.50% interest on FDs between 7 days to 29 days. On FDs between 30 days to 45 days, the bank gives 5.50% interest. For 46 days to less than 5 months, the interest rate is 5.75%. For FDs with 5 months to 6 months, Axis Bank gives 6.00% interest. On FDs maturing between 6 months to less than 9 months, the bank offers an interest rate of 6.25%. For FDs maturities tenure 9 months to less than 10 months, Axis Bank offers 6.50% interest.
Axis Bank pays interest rate of 6.75% and 7.00% respectively on FDs between 10 months to 1 year and 1 year to less than 1 year 25 days. The bank pays 7.10% on deposits maturing in less than 14 months. Term deposits maturing in 14 months to less than 2 years will fetch you an interest rate of 6.85% in Axis Bank. On FDs between 2 years to less than 5 years, Axis Bank pays 6.85%. For deposits maturing in 5 years to ten years, the bank gives 6.75% interest.
PNB latest FD interest rates
Punjab National Bank gives 4.50% interest for deposits maturing in 7 to 45 days. For FDs maturing in 46 to 179 days, the bank gives 5.50% interest. For FDs with tenures 180 days to 270 days, 271 days to less than 1 year and 333 days, PNB offers an interest rate of 6.00%, 6.25% and 6.30% respectively. For deposits with tenures 1 year to 555 days, PNB gives the highest rate of interest at 6.60%. FDs maturing in 1 year to 10 years will fetch an interest rate of 6.50%
Kotak Mahindra Bank latest FD interest rates
For FDs maturing in 7 to 14 days, 15 to 30 days and 31 to 45 days, Kotak Mahindra Bank offers interest rate 3.5%, 4.00% and 5% respectively. Kotak Mahindra Bank gives 5.25% interest on FDs between 46-90 days. For 91 to 120 days, the interest rate is 5.50%.
Kotak Mahindra Bank pays interest rate of 5.60% on FDs between 121 and 179 days. For term deposits maturing in 180 to 270 days, Kotak Mahindra Bank pays 6.25% interest. For FDs maturing in 271 days to 363 days, Kotak Mahindra Bank offers an interest rate of 6.35%. For deposits maturing in 364 days to 389 days, Kotak Bank offers 6.75% interest.
For deposits maturing in 390 days, it offers an interest rate of 6.80%. For FDs maturing in 391 days to less than 23 months and 23 months to less than 2 years, the bank gives 6.70% interest. FDs with maturity period 390 days will give interest rate of 6.80%. Kotak Mahindra Bank gives 6.50% interest for deposits maturing in two years to less than 3 years. For FDs maturing in 3 years to 10 years, the bank offers 6.25% interest.
Bandhan Bank, Bank of India and IDBI Bank also cut interest rates on fixed deposit accounts effective this month
