State Bank Of India (SBI) Vs ICICI Bank Vs HDFC Bank Vs Axis Bank

Fixed Deposits Interest Rates Offered By SBI, ICICI Bank, HDFC Bank, PNB

A one-year SBI fixed deposit fetches an interest rate of 6.25%.

Different banks offer varying interest rates on  fixed deposits (FDs), one of the most popular savings instruments. However, FD interest rates vary across various banks and on the basis of their tenures. So, before a customer invests in FD, he/she needs to compare them thoroughly in order to get the best rates. For example, on a 1-year tenure of fixed deposit for less than Rs. 1 crore, State Bank of India (SBI), India’s biggest lender, offers an interest rate of 6.25 per cent. The two biggest private banks – ICICI Bank and HDFC Bank offer 6.5 per cent and 6.75 per cent respectively on the same tenure and deposit amount. Axis Bank, on the other hand, offers 6.5 per cent.

Here we bring to you in detail the various FD rates offered by SBI, HDFC Bank, ICICI Bank and Axis Bank:  

State Bank of India (SBI) Fixed Deposit Rates:

SBI, India’s largest bank, has cut its bank FD rates by 25 basis points across most maturities, with effect from November 1, 2017. A one-year SBI fixed deposit will fetch an interest rate of 6.25 per cent, from 6.50 per cent earlier, according to the bank’s website. Senior citizens will get 6.75 per cent, as compared to 7 per cent earlier.

The revised interest rates for FDs below Rs one crore are as under:

 

Tenors Revised For Public w.e.f. 01.11.2017 (%) Revised for Senior Citizens w.e.f. 01.11.2017 (%)
7 days to 45 days 5.25 5.75
46 days to 179 days 6.25 6.75
180 days to 210 days 6.25 6.75
211 days to less than 1 year 6.25 6.75
1 year 6.25 6.75
Above 1 year to 455 days 6.25 6.75
456 days to less than 2 years 6.25 6.75
2 years to less than 3 years 6 6.5
3 years to less than 5 years 6 6.5
5 years and up to 10 years 6 6.5
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ICICI Bank Fixed Deposit Rates:

Interest rates on Domestic, NRO & NRE deposits(Less than Rs 1 crore)

   

Tenure Period

Rate of Interest (% p.a.) w.e.f July 19, 2017
General Senior Citizen*
7 days to 14 days 4 4.5
15 days to 29 days 4.25 4.75
30 days to 45 days 5.5 6
46 days to 60 days 5.75 6.25
61 days to 90 days 6 6.5
91 days to 120 days 6 6.5
121 days to 184 days 6 6.5
185 days to 289 days 6.25 6.75
290 days to less than 1 year 6.5 7
1 year to 389 days 6.75 7.25
390 days to 2 years 6.75 7.25
2 years 1 day upto 5 years 6.5 7
5 years 1 day upto 10 years 6.5 7
5 Years Tax saver FD(Max upto Rs. 1.50 lac) 6.5 7

 

 

HDFC Bank Fixed Deposit Rates:

Domestic/ NRO / NRE Term Deposits

 

  < 1 Crore
Period    
  Interest Rate  **Senior Citizen Rates 
  (per annum) (per annum)
7 – 14 days 3.50% 4.00%
15 – 29 days 4.25% 4.75%
30 – 45 days 5.50% 6.00%
46 – 60 days 5.75% 6.25%
61 – 90 days 5.75% 6.25%
91 days – 6 months 5.75% 6.25%
6 mnths 1 day- 6 mnths 3 days 6.00% 6.50%
6 mnths 4 days 6.00% 6.50%
6 mnths 5 days- 9 mnths 6.00% 6.50%
9 mnths 1 day- 9 mnths 3 days 6.00% 6.50%
9 mnths 4 days 6.00% 6.50%
9 months 5 days – 9 months 15 days 6.00% 6.50%
9 months 16 days 6.25% 6.75%
9 months 17 days < 1 Year 6.25% 6.75%
1 Year 6.75% 7.25%
1 year 1 day – 1 year 3 days 6.75% 7.25%
1 year 4 days 6.25% 6.75%
1 year 5 days – 1 Year 15 Days 6.25% 6.75%
1 Year 16 days 6.25% 6.75%
1 year 17 days – 2 Years 6.25% 6.75%
2 years 1day – 2 Years 15 days 6.00% 6.50%
2 Years 16 days 6.00% 6.50%
2 years 17 days – 3 Years 6.00% 6.50%
3 years 1day – 5 years 6.00% 6.50%
5 Years 1 Day – 8 Years 6.00% 6.50%
8 Years 1 Day – 10 Years 6.00% 6.50%
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Axis Bank Fixed Deposit Rates

These are Axis Bank’s Fixed Deposit rates with effect from 10.10.2017:

 

PERIOD Interest rates (% P.A.)
  Interest rate on deposits below Rs 1 crore
7 days to 14 days 3.5
15 days to 29 days 3.5
30 days to 45 days 5.5
46 days to 60 days 6
61 days < 3 months 6
3 months < 4 months 6.2
4 months < 5 months 6.25
5 months < 6 months 6.25
6 months < 7 months 6.25
7 months < 8 months 6.25
8 months < 9 months 6.25
9 months < 10 months 6.5
10 months < 11 months 6.5
11 months < 1 year 6.5
1 year < 13 months 6.75
13 months < 14 months 6.75
14 months < 15 months 6.75
15 months < 16 months 6.75
16 months < 17 months 6.75
17 months < 18 months 6.85
18 Months < 2 years 6.25
2 years < 30 months 6.25
30 months < 3 years 6.25
3 years < 5 years 6.25
5 years to 10 years 6.25

 

Punjab National Bank Fixed Deposit Rates

Domestic term deposits less than Rs.1 crore with effect from 19.08.2017

 

Period ROI (% p.a.) A.Y.** For Senior Citizen ROI (% p.a.)
7 to 14 days 4 4 4.5
15 to 29days 4 4 4.5
30 to 45 days 4.5 4.5 5
46 to 90 days 5.5 5.5 6
91 to 179 days 6 6 6.5
180 days to 270 Days 6.25 6.3 6.75
271 days to less than 1 year 6.25 6.35 6.75
1 year 6.6 6.77 7.1
above 1 year & upto 3 years 6.5 6.66 7
above 3 year & upto 5 years 6.25 6.82 6.75
above 5 years & upto 10 years 6.25 7.27 6.75
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