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Looking To Invest In Fixed Deposits? Compare Interest Rates Paid By Top Banks

In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years.

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Looking To Invest In Fixed Deposits? Compare Interest Rates Paid By Top Banks

Fixed deposit interest rates are also higher than those offered by savings accounts.


Fixed deposits or FDs are secure financial instruments, which offer guaranteed returns. FD interest rates vary according to the tenure of the fixed deposit and across banks. In a fixed deposit account, money is deposited for a specific time, which varies from 7 days to ten years. Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period. Fixed deposit interest rates are also higher than those offered by savings accounts. The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961.

Given below is a comparison of fixed deposit (FD) interest rates paid by SBI, HDFC Bank, ICICI Bank and :  


State Bank of India (SBI)

The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from February 22, 2019, according to sbi.co.in:

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 year6.406.90
1 year to less than 2 year6.807.30
2 years to less than 3 years6.807.30
3 years to less than 5 years6.807.30
5 years and up to 10 years6.857.35


HDFC Bank

The following FD interest rates are applicable on deposits below Rs. 2 crore from April 11, 2019, according to hdfcbank.com:

PeriodGeneral public (% p.a.)Senior citizen (% 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 months 1 day- 6 months 3 days6.757.25
6 months 4 days6.757.25
6 months 5 days - 9 months6.757.25
9 months 1 day- 9 months 3 days7.107.60
9 months 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 1 day - 2 Years 15 days7.407.90
2 Years 16 days7.407.90
2 years 17 days - 3 Years7.407.90
3 years 1 day - 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

Punjab National Bank (PNB)

The following FD interest rates are applicable on deposits below Rs 2 crore from March 1, 2019, according to pnbindia.in:

PeriodGeneral public (% p.a.)Senior citizen (% p.a.)
7 to 14 days5.756.25
15 to 29 days5.756.25
30 to 45 days5.756.25
46 to 90 days6.356.85
91 to 179 days6.356.85
111 days6.57
180 days to 270 Days6.356.85
222 days6.67.1
271 days to less than 1 year6.356.85
333 days7.17.6
1 year6.757.25
555 days6.857.35
above 1 year & up to 3 years6.757.25
above 3 year & up to 5 years6.256.75
above 5 years & up to 10 years6.256.75

Fixed deposits are also offered by small finance banks, non-banking finance companies and post offices.

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