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Comparison Of Bank Of India, SBI, ICICI Bank, HDFC Bank FD Interest Rates

Bank fixed deposits (FD) are financial instruments that provide investors a higher rate of interest than a regular savings account.

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Comparison Of Bank Of India, SBI, ICICI Bank, HDFC Bank FD Interest Rates

Bank fixed deposits may or may not require the creation of a separate account.


Bank fixed deposits (FD) are financial instruments that provide investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. Some FDs come with a premature withdrawal facility - these are basically regular FDs which do not offer you tax benefits. FDs which offer tax benefits come with a lock-in period of minimum five years. However, a taxpayer can claim a maximum tax deduction of only Rs. 1.5 lakh under Section 80C of the Income Tax Act in a financial year.

(Also read: Fixed Deposit (FD) Interest Rates For Senior Citizens: SBI Vs ICICI Bank | New To Investments? Five Things To Know To Avoid Taking A Wrong Call)

Given below is a comparison of the various interest rates on fixed deposits offered by Bank of India, State Bank of India (SBI), ICICI Bank and HDFC Bank:

(Also Read: State Bank Of India (SBI) Home Loan Interest Rates For Women, Eligibility, Documents Required)

Fixed deposit interest rates offered by Bank of India, according to bankofindia.co.in:
 
Maturity BucketsDeposits less than Rs.1 Cr
w.e.f. 10.01.18
7 days to 14 days5.25*
15 days to 30 days5.25
31 days to 45 days5.25
46 days to 90 days5.75
91 days to 120 days6
121 days to 179 days6
180 days to 269 days6.25
270 days to less than 1 year6.25
1 Year & above to less than 2 Yrs6.6
2 years & above to less than 3 years6.5
3 years & above to less than 5 years6.3
5 years & above to less than 8 years6.25
8 years & above to 10 years6.25

(Also Read: Minimum Balance Requirements, Non-Maintenance Charges: State Bank of India (SBI) Vs ICICI Bank Vs HDFC Bank)

Fixed deposit interest rates offered by State Bank of India (SBI), according to sbi.co.in:
Revision in interest rates on retail domestic term or fixed deposits (Below Rupees One Crore) w.e.f. 28.02.2018

(Also Read: Post Office Saving Schemes: 5 Key Questions Answered Here)

The revised interest rates are as under:
(All figures in % per annum)
 
TenorsExisting for Public w.e.f. 01.11.2017Revised For Public w.e.f. 28.02.2018Existing for Senior Citizens w.e.f. 01.11.2017Revised for Senior Citizens w.e.f. 28.02.2018
7 days to 45 days
5.25
5.75
5.75
6.25
46 days to 179 days
6.25
6.25
6.75
6.75
180 days to 210 days
6.25
6.35
6.75
6.85
211 days to less than 1 year
6.25
6.4
6.75
6.9
1 year
6.25
6.4
6.75
6.9
Above 1 year to 455 days
6.25
6.4
6.75
6.9
456 days to less than 2 years
6.25
6.4
6.75
6.9
2 years to less than 3 years
6
6.5
6.5
7
3 years to less than 5 years
6
6.5
6.5
7
5 years and up to 10 years
6
6.5
6.5
7

(Also Read: Latest Interest Rates On Post Office Saving Schemes - PPF Vs NSC Vs Recurring Deposit)

Fixed deposit interest rates offered by ICICI Bank, according to icicibank.com:
Interest rates on Domestic, NRO & NRE deposits(Less than Rs 1 crore)

(Also Read: Want To Earn A Regular Monthly Income? 5 Investment Options For You)
 
Tenure Period
Rate of Interest (% p.a.) w.e.f December 11, 2017
GeneralSenior Citizen*
7 days to 14 days44.5
15 days to 29 days4.254.75
30 days to 45 days5.56
46 days to 60 days5.756.25
61 days to 90 days66.5
91 days to 120 days66.5
121 days to 184 days66.5
185 days to 289 days6.256.75
290 days to less than 1 year6.57
1 year to 389 days6.67.1
390 days to 2 years6.757.25
2 years 1 day upto 5 years6.57
5 years 1 day upto 10 years6.57
5 Years Tax saver FD(Max upto Rs. 1.50 lac)6.57

Fixed deposit interest rates offered by HDFC Bank, according to hdfcbank.com:

Domestic / NRO / NRE TERM DEPOSITS
 
Period< 1 Crore
Interest Rate **Senior Citizen Rates 
(per annum)(per annum)
7 - 14 days3.50%4.00%
15 - 29 days4.25%4.75%
30 - 45 days5.50%6.00%
46 - 60 days5.75%6.25%
61 - 90 days5.75%6.25%
91 days - 6 months5.75%6.25%
6 mnths 1 day- 6 mnths 3 days6.00%6.50%
6 mnths 4 days6.00%6.50%
6 mnths 5 days- 9 mnths6.00%6.50%
9 mnths 1 day- 9 mnths 3 days6.00%6.50%
9 mnths 4 days6.00%6.50%
9 months 5 days - 9 months 15 days6.00%6.50%
9 months 16 days6.25%6.75%
9 months 17 days < 1 Year6.25%6.75%
1 Year6.75%7.25%
1 year 1 day - 1 year 3 days6.75%7.25%
1 year 4 days6.25%6.75%
1 year 5 days - 1 Year 15 Days6.25%6.75%
1 Year 16 days6.25%6.75%
1 year 17 days - 2 Years6.25%6.75%
2 years 1day - 2 Years 15 days6.00%6.50%
2 Years 16 days6.00%6.50%
2 years 17 days - 3 Years6.00%6.50%
3 years 1day - 5 years6.00%6.50%
5 Years 1 Day - 8 Years6.00%6.50%
8 Years 1 Day - 10 Years6.00%6.50%

Fixed deposit interest rates are subject to change from time to time.
 


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