HDFC Bank, ICICI Bank revise FD rates. How they compare with SBI, Axis Bank. Latest fixed deposit rates of these banks

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HDFC Bank has revised its fixed deposit rates for deposits under ₹3 crore. As of July 24, 2024, the bank now offers interest rates ranging from 3% to 7% for general depositors and 3.5% to 7.5% for senior citizens, depending on the deposit tenor, which spans from 7 days to 10 years. These revised rates are reflected on HDFC Bank’s official website.

Tenure on which HDFC Bank has hiked FD rates

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The bank has increased its fixed deposit interest rates as follows:

For tenures ranging from 2 years 11 months to 3 years 11 months, HDFC Bank has been raised by 20 basis points to a range of 7.15% to 7.35%.

For tenures from 4 years 7 months to 4 years 7 months, the rate has been increased by 20 basis points, now ranging from 7.20% to 7.40%.

ICICI and HDFC Banks have recently updated their term deposit rates, impacting the returns on their fixed deposits. Here’s a comparison of these new rates with those offered by SBI and Axis Bank.

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SBI latest FD rates

State Bank of India (SBI) offers fixed deposit rates ranging from 3.50% to 7.00% for general customers across various tenures, from 7 days to 10 years. These artes are effective from 15 June.

For senior citizens, SBI provides an additional 0.50% interest on these rates for all deposit tenures. This means that senior citizens will receive 0.50% more than the standard rates offered to general customers on fixed deposits.

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ICICI Bank latest FD rates

ICICI Bank offers fixed deposit rates ranging from 3% to 7.20% for general customers across various tenures, from 7 days to 10 years.

For senior citizens, SBI provides an additional 0.50% interest on these rates for all deposit tenures. This means that senior citizens will receive 3.50% to 7.70% on term deposits maturing in 7 days to 10 years, These rates are effective from 30 July.

Axis Bank latest FD rates

Axis Bank offers fixed deposit rates ranging from 3% to 7.20% for general customers across various tenures, from 7 days to 10 years. These rates are effective from 1 July