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Fixed Deposit Interest Rates: Here's What Post Office And Banks Pay

FD accounts can be created by visiting a bank branch or even online. These days, most banks offer the facility of opening fixed deposits online.

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Fixed Deposit Interest Rates: Here's What Post Office And Banks Pay

FDs are of two types: with premature withdrawal facility and without premature without facility.


Fixed Deposits (FDs) are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. FDs are of two types: with premature withdrawal facility and without premature without facility. The fixed deposits which offer premature withdrawal facility do not offer income tax benefits. On the other hand, FDs without a premature withdrawal facility offer income tax benefits but require a lock-in period of five or ten years. Fixed deposit accounts can be created by visiting a bank branch or even online. These days, most banks offer the facility of opening fixed deposits online.

Given below is a comparison of fixed deposit or FD interest rates offered by SBI, HDFC Bank, ICICI Bank, and Post office:

State Bank of India (SBI)

The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from May 9, 2019, according to bank's website:

PeriodGeneral public (% p.a.)Senior citizens (% p.a.)
7 days to 45 days5.756.25
46 days to 179 days6.256.75
180 days to 210 days6.356.85
211 days to less than 1 year6.46.9
1 year to less than 2 year77.5
2 years to less than 3 years6.757.25
3 years to less than 5 years6.77.2
5 years and up to 10 years6.67.1

(As mentioned on SBI's website)

HDFC Bank

HDFC Bank pays the following interest rates on fixed deposits up to Rs 2 crore, with effect from June 12, 2019, according to the bank's website:

Period< 2 Crore
General public (% p.a.)​Senior citizens (% p.a.)
7 - 14 days3.504.00
15 - 29 days4.254.75
30 - 45 days5.756.25
46 - 60 days6.256.75
61 - 90 days6.256.75
91 days - 6 months6.256.75
6 mnths 1 day- 6 mnths 3 days6.757.25
6 mnths 4 days6.757.25
6 mnths 5 days- 9 mnths6.757.25
9 mnths 1 day- 9 mnths 3 days7.107.60
9 mnths 4 days7.107.60
9 months 5 days - 9 months 15 days7.107.60
9 months 16 days7.107.60
9 months 17 days < 1 Year7.107.60
1 Year7.307.80
1 year 1 day - 1 year 3 days7.307.80
1 year 4 days7.307.80
1 year 5 days - 1 Year 15 Days7.307.80
1 Year 16 days7.307.80
1 year 17 days - 2 Years7.307.80
2 years 1day - 2 Years 15 days7.407.90
2 Years 16 days7.407.90
2 years 17 days - 3 Years7.407.90
3 years 1day - 5 years7.257.75
5 Years 1 Day - 8 Years6.507.00
8 Years 1 Day - 10 Years6.507.00

ICICI Bank

The following FD interest rates are applicable on deposits below Rs. 2 crore from March 7, 2019, according to icicibank.com:

PeriodGeneral public (% p.a.)Senior citizens (% p.a.)
7 days to 14 days44.5
15 days to 29 days4.254.75
30 days to 45 days5.56
46 days to 60 days66.5
61 days to 90 days6.256.75
91 days to 120 days6.256.75
121 days to 184 days6.256.75
185 days to 289 days6.57
290 days to less than 1 year6.757.25
1 year to 389 days6.97.4
390 days to 2 years7.17.6
2 years 1 day up to 3 years7.58
3 years 1 day up to 5 years7.257.75
5 years 1 day up to 10 years77.5
5 Years Tax saver FD (Max up to Rs. 1.50 lac)7.257.75

India Post

Post office FD account offers interest rates across four maturities: one year, two years, three years, and five years. Given below are the FD interest rates offered by post office:

PeriodRate (% p.a.)
1 year time deposit (fixed deposit) account7
2 year time deposit (fixed deposit) account7
3 year time deposit (fixed deposit) account7
5 year time deposit (fixed deposit) account7.80

(As mentioned on India Post's website)

In case of India Post, the interest is payable annually but is calculated quarterly.



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