Here's A Comparison Of Fixed Deposit (FD) Interest Rates Offered By Key Banks
Fixed deposits (FDs) are secure investment instruments offered by banks, non-banking financial companies (NBFCs) and post offices. In a bank fixed deposit (FD), investor can park lump sum amount and avail features like assured returns and choice of interest payout. Leading banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, among others offer the option of opening a FD. Fixed deposit interest rates vary according to the tenor of a fixed deposit. Recently, ICICI Bank hiked FD interest rates on select maturities. Private sector bank HDFC Bank and state-run lender Punjab National Bank (PNB) had earlier this month revised their interest rates on fixed deposit.
Public sector lender Vijaya Bank revised its fixed deposit (FD) rates with effect from November 12, 2018. State Bank of India, country's largest lender, last revised its FD interest rates with effect from July 30, 2018.
Given below are FD interest rates of SBI, HDFC Bank, ICICI Bank, PNB Bank and Vijaya Bank:
State Bank of India (SBI):
The following FD interest rates are applicable on deposits below Rs. 1 crore:
| Maturity period (term) | Interest rate with effect from July 30, 2018 | |
|---|---|---|
| General public | Senior citizen | |
| 7 days to 45 days | 5.75% | 6.25% |
| 46 days to 179 days | 6.25% | 6.75% |
| 180 days to 210 days | 6.35% | 6.85% |
| 211 days to less than 1 year | 6.4% | 6.9% |
| 1 year to less than 2 year | 6.7% | 7.2% |
| 2 years to less than 3 years | 6.75% | 7.25% |
| 3 years to less than 5 years | 6.8% | 7.3% |
| 5 years and up to 10 years | 6.85% | 7.35% |
| (Source: sbi.co.in) | ||
ICICI Bank
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - icicibank.com:
| Maturity Period | Interest rates (per annum) | |
|---|---|---|
| Term deposits of less than Rs 1 crore | ||
| New rates (with effect from November 15) | Increase in basis points (bps) | |
| 7 days to 14 days | 4.00% | - |
| 15 days to 29 days | 4.25% | - |
| 30 days to 45 days | 5.50% | - |
| 46 days to 60 days | 6.00% | 25 bps |
| 61 days to 90 days | 6.25% | 25 bps |
| 91 days to 120 days | 6.25% | 25 bps |
| 121 days to 184 days | 6.25% | 25 bps |
| 185 days to 289 days | 6.50% | - |
| 290 days to less than 1 year | 6.75% | - |
| 1 year to 389 days | 6.90% | 15 bps |
| 390 days upto 2 years | 7.10% | 10 bps |
| 2 years 1 day upto 3 years | 7.50% | 25 bps |
| 3 years 1 day upto 5 years | 7.25% | - |
| 5 years 1 day upto 10 years | 7.00% | - |
| 5 years (80C FD) | 7.25% | - |
HDFC Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:
| Period | Interest rate on FD less than Rs 1 Crore | |
|---|---|---|
| General public | Senior citizen | |
| 7 - 14 days | 3.50% | 4.00% |
| 15 - 29 days | 4.25% | 4.75% |
| 30 - 45 days | 5.75% | 6.25% |
| 46 - 60 days | 6.25% | 6.75% |
| 61 - 90 days | 6.25% | 6.75% |
| 91 days - 6 months | 6.25% | 6.75% |
| 6 mnths 1 day- 6 mnths 3 days | 6.75% | 7.25% |
| 6 mnths 4 days | 6.75% | 7.25% |
| 6 mnths 5 days- 9 mnths | 6.75% | 7.25% |
| 9 mnths 1 day- 9 mnths 3 days | 7.10% | 7.60% |
| 9 mnths 4 days | 7.10% | 7.60% |
| 9 months 5 days - 9 months 15 days | 7.10% | 7.60% |
| 9 months 16 days | 7.10% | 7.60% |
| 9 months 17 days < 1 Year | 7.10% | 7.60% |
| 1 Year | 7.30% | 7.80% |
| 1 year 1 day - 1 year 3 days | 7.30% | 7.80% |
| 1 year 4 days | 7.30% | 7.80% |
| 1 year 5 days - 1 Year 15 Days | 7.30% | 7.80% |
| 1 Year 16 days | 7.30% | 7.80% |
| 1 year 17 days - 2 Years | 7.30% | 7.80% |
| 2 years 1day - 2 Years 15 days | 7.40% | 7.90% |
| 2 Years 16 days | 7.40% | 7.90% |
| 2 years 17 days - 3 Years | 7.40% | 7.90% |
| 3 years 1day - 5 years | 7.25% | 7.75% |
| 5 Years 1 Day - 8 Years | 6.50% | 7.00% |
| 8 Years 1 Day - 10 Years | 6.50% | 7.00% |
PNB Bank:
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - pnbindia.in:
| Domestic FD Less Than Rs1 Cr | |||
|---|---|---|---|
| (W.E.F. 01.11.2018) | |||
| Sl. No | Period | General public (% p.a.) | For Senior Citizen (% p.a.) |
| 1 | 7 to 14 days | 5.7 | 6.2 |
| 2 | 15 to 29days | 5.7 | 6.2 |
| 3 | 30 to 45 days | 5.7 | 6.2 |
| 4 | 46 to 90 days | 6.35 | 6.85 |
| 5 | 91 to 179 days | 6.35 | 6.85 |
| 6 | 180 days to 270 Days | 6.35 | 6.85 |
| 7 | 271 days to less than 1 year | 6.35 | 6.85 |
| 8 | 1 year | 6.75 | 7.25 |
| 9 | 555 days** | 6.85 | 7.35 |
| 10 | above 1 year & upto 3 years | 6.75 | 7.25 |
| 11 | above 3 year & upto 5 years | 6.25 | 6.75 |
| 12 | above 5 years & upto 10 years | 6.25 | 6.75 |
Vijaya Bank:
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - vijayabank.com:
| Fixed Deposit Interest rates % (p.a) | ||
|---|---|---|
| Serial Number | Period | Below 1 crore (General public) |
| 1 | 7 days to 29 days | 5% |
| 2 | 30 days to 45 days | 5.50% |
| 3 | 46 days to 60 days | 6% |
| 4 | 61 days to 90 days | 6% |
| 5 | 91 days to 180 days | 6.35% |
| 6 | 181 days to 269 days | 6.50% |
| 7 | 270 days to less than 1 Year | 6.60% |
| 8 | 1Year | 6.80% |
| 9 | More than 1Year to less than 2Years | 6.80% |
| 10 | 2 Years | 6.80% |
| 11 | More than 2 Years to less than 3 Years | 6.80% |
| 12 | 3 years to 5 Years | 6.80% |
| 13 | Above 5 Years | 6.80% |
The additional interest rate for Senior Citizens is 0.50 per cent per annum and is applicable only for the deposits below Rs 1 crore from the period of 1 year to 5 years, Vijaya Bank noted on it's website.