Which bank offers highest FD rate, for which tenure: SBI vs ICICI Bank vs HDFC Bank vs Axis Bank vs PNB
State Bank of India (SBI) has hiked fixed deposit interest rates in certain tenures with effective from December 27, 2023. Axis Bank has revised the fixed deposit interest rates for amounts below Rs 2 crore. The new FD rate is effective from 26 December 2023. Other banks like HDFC Bank revised FD rates on October 1 and ICICI Bank revised them on October 16, 2023.Here is a quick comparison of banks’ FD interest rates and on which tenure they are offering the highest rate.
SBI FD rates
The bank has hiked the interest rate on deposits maturing between 7 days to 45 days to 3.50 percent from 3 percent which is a 50 basis points hike.
SBI raised the interest rate on tenure of 46 days to 179 days to 4.75 percent from 4.50 percent which is 25 basis points.
The bank has hiked by 25 bps on tenure of 180 days to 210 days from 5.25 percent to 5.75 percent.
The bank has hiked by 25 bps on tenure of 180 days to 210 days from 5.25 percent to 5.75 percent.
SBI Amrit Kalash special FD with higher interest rates extended again: Check the new deadline
For FDs maturing 211 days to less than 1 year, the interest rate has been raised to 6 percent from 5.75 percent. On deposits maturing between three years to less than five years, the interest rate has been increased to 6.75 from 6.50 percent. Other tenure rates are untouched.
SBI offers interest rates between 3.50% to 7.10% including Amrit Kalash for tenure ranging from 7 days to 10 years. The highest interest rate of 7.10% is offered on 400 days.
HDFC Bank
HDFC Bank offers interest rates between 3% to 7.20% for tenure ranging from 7 days to 10 years for general citizens and for senior citizens, the bank offers 3.50% to 7.75%. The highest interest rate of 7.20% is offered on 4 Year 7 Months - 55 months for general citizens.
ICICI Bank
ICICI Bank offers interest rates between 3% to 7.10% for tenure ranging from 7 days to 10 years for general citizens and for senior citizens, the bank offers 3.50% to 7.65%. The highest interest rate of 7.10% is offered on 15 months to 2 years for general citizens.
Axis Bank
Axis Bank offers FD rates of 3.50-7.10% to the general public on term deposits maturing in seven days to ten years, after the revision on December 26, 2023. Axis Bank offers FD rates of 3.50-7.75% to senior citizens on tenures ranging from 7 days to 10 years.
PNB
PNB Bank offers FD rates of 3.50-7.25% to the general public on term deposits maturing in seven days to ten years. PNB offers FD rates of 4-7.75% to senior citizens on tenures ranging from 7 days to 10 years. The highest rate of 7.25% is offered on 444 days.
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This story originally appeared on: India Times - Author:Faqs of Insurances
