HDFC Bank is offering up to 7.9 per cent FD rates on fixed deposits below Rs 3 crore, ICICI Bank is giving up to 7.8 per cent, and State Bank of India (SBI) is giving up to 7.50 per cent.
SBI Vs HDFC Bank Vs ICICI Bank FD Rates: As the RBI MPC is meeting next week to decide on the interest rates in the country and is expected to start cutting rates from December 2024, fixed deposit interest rates are also likely to be rationalised from next year. Here’s a look at FD interest rates of HDFC Bank, ICICI Bank and SBI.
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Fixed deposits are currently offering as much as 7.9 per cent interest, beating inflation comfortably which currently stands at around 4 per cent.
Currently, HDFC Bank, India’s largest private sector lender, is offering up to 7.9 per cent FD rates on fixed deposits below Rs 3 crore, depending upon the age of the depositor and tenure. ICICI Bank is giving up to 7.8 per cent, while State Bank of India (SBI) is giving up to 7.50 per cent.
Here’s the comparison of the current fixed deposit (FD) interest rates offered by three large banks HDFC Bank, ICICI Bank, and Axis Bank on deposits below Rs 3 crore:
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HDFC Bank’s latest interest rates on fixed deposits less than Rs 3 crore (per annum):
- 7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
- 15 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
- 30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
- 46 days to 60 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
- 61 days to 89 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
- 90 days to less than equal to 6 months: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
- 6 months 1 day to less than 9 months: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
- 9 months 1 day to less than 1 year: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
- 1 year to less than 15 months: For General Public – 6.60 per cent; For Senior Citizens – 7.10 per cent
- 15 months to less than 18 months: For General Public – 7.10 per cent; For Senior Citizens – 7.50 per cent
- 18 months to less than 21 months: For General Public – 7.25 per cent; For Senior Citizens – 7.75 per cent
- 21 months to 2 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
- 2 years 1 day to less than 2 years 11 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
- 2 years 11 months to 35 months: For General Public – 7.35 per cent; For Senior Citizens – 7.85 per cent
- 2 years 11 months 1 day to less than or equal to 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
- 3 years 1 day to less than 4 years 7 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
- 4 years 7 months to 55 months: For General Public – 7.40 per cent; For Senior Citizens – 7.90 per cent
- 4 years 7 months 1 day to less than or equal to 5 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
- 5 years 1 day to 10 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent.
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SBI’s FD Interest Rate (On Deposits Below Rs 3 Crore):
- 7 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
- 46 days to 179 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
- 180 days to 210 days: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent
- 211 days to less than 1 year: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
- 1 year to less than 2 years: For General Public – 6.80 per cent; For Senior Citizens – 7.30 per cent
- 2 years to less than 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
- 3 years to less than 5 years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
- 5 years to up to 10 years: For General Public – 6.50 per cent; For Senior Citizens – 7.50 per cent.
ICICI Bank’s latest interest rates on fixed deposits below Rs 3 crore:
- 7 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
- 30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
- 46 days to 60 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent
- 61 days to 90 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
- 91 days to 184 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent
- 185 days to 270 days: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
- 271 days to less than 1 year: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
- 1 year to less than 15 months: For General Public – 6.70 per cent; For Senior Citizens – 7.20 per cent
- 15 months to less than 18 months: For General Public – 7.25 per cent; For Senior Citizens – 7.80 per cent
- 18 months to 2 years: For General Public – 7.25 per cent; For Senior Citizens – 7.75 per cent
- 2 years 1 day to 5 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
- 5 years 1 day to 10 years: For General Public – 6.90 per cent; For Senior Citizens – 7.40 per cent
- 5 years (tax saver FD): For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent.
The RBI recently raised the bulk deposit definition to Rs 3 crore, from Rs 2 crore earlier.
