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SBI, Axis Bank Hike Fixed Deposit (FD) Interest Rates; What ICICI Bank, HDFC Bank Offer

Axis Bank has revised its fixed deposit (FD) interest rates with effect from June 1, 2018, following in the foot steps of State Bank of India (SBI).

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SBI, Axis Bank Hike Fixed Deposit (FD) Interest Rates; What ICICI Bank, HDFC Bank Offer

This is a comparison among fixed deposit (FD) interest rates of SBI, ICICI Bank, HDFC Bank and Axis Bank.


Axis Bank has revised its fixed deposit (FD) interest rates with effect from June 1, 2018, following in the foot steps of State Bank of India (SBI) which hiked its FD interest rates effective May 28, 2018. Since SBI is the largest lender of the country, other banks may also follow the league. ICICI Bank has not hiked its interest rates since December 11, 2017. HDFC Bank hiked its fixed deposit interest rates in April-end. Given below are fixed deposit interest rates offered by SBI, ICICI Bank, HDFC Bank and Axis Bank:

Fixed deposit interest rates offered by SBI

(All figures in % per annum)
 
TenorsExisting for Public w.e.f. 28.03.2018Revised For Public w.e.f. 28.05.2018Existing for Senior Citizens w.e.f. 28.03.2018Revised for Senior Citizens w.e.f. 28.05.2018
7 days to 45 days5.755.756.256.25
46 days to 179 days6.256.256.756.75
180 days to 210 days6.356.356.856.85
211 days to less than 1 year6.46.46.96.9
1 year to less than 2 year6.46.656.97.15
2 years to less than 3 years6.66.657.17.15
3 years to less than 5 years6.76.77.27.2
5 years and up to 10 years6.756.757.257.25

Fixed deposit interest rates offered by ICICI Bank
 
Tenure PeriodRate 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
 
   
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 Year6.85%7.35%
1 year 1 day - 1 year 3 days6.50%7.00%
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 Years7.00%7.50%
2 years 1day - 2 Years 15 days7.00%7.50%
2 Years 16 days7.00%7.50%
2 years 17 days - 3 Years7.00%7.50%
3 years 1day - 5 years7.00%7.50%
5 Years 1 Day - 8 Years6.00%6.50%
8 Years 1 Day - 10 Years6.00%6.50%

Fixed deposit interest rates offered by Axis Bank
DEPOSITS – LESS THAN 5 CRORES W.E.F. 01/06/2018**
 
PERIODINTEREST RATES (% P.A.)
 DEPOSITSDEPOSITS OF RS. 1
 BELOW RS. 1 CRORECRORE < RS.5 CRORES
7 days to 14 days3.55.5
15 days to 29 days3.55.5
30 days to 45 days5.56
46 days to 60 days66.3
61 days < 3 months66.5
3 months < 4 months66.75
4 months < 5 months66.75
5 months < 6 months66.75
6 months < 7 months6.256.9
7 months < 8 months6.256.9
8 months < 9 months6.256.9
9 months < 10 months6.56.9
10 months < 11 months6.56.9
11 months < 1 year6.56.9
1 year < 12 months 5 days7.17.3
12 months 5 days < 12 months 11 days7.47.6
12 months 11 days < 13 months7.17.3
13 months < 14 months7.17.3
14 months < 15 months77.25
15 months < 16 months77.25
16 months < 17 months77.25
17 months < 18 months77.25
18 Months < 2 years77.25
2 years < 30 months77.25
30 months < 3 years77.25
3 years < 5 years77
5 years to 10 years77

DEPOSITS – SENIOR CITIZENS – LESS THAN 5 CRORES* W.E.F. 01/06/2018**
 
PERIODINTEREST RATES (% P.A.)
 DEPOSITSDEPOSITS OF RS. I
 BELOW RS. 1 CRORECRORE < RS.5 CRORES
7 days to 14 days3.55.5
15 days to 29 days3.55.5
30 days to 45 days5.56
46 days to 60 days66.3
61 days < 3 months66.5
3 months < 4 months66.75
4 months < 5 months66.75
5 months < 6 months66.75
6 months < 7 months6.57.15
7 months < 8 months6.57.15
8 months < 9 months6.57.15
9 months < 10 months6.757.15
10 months < 11 months6.757.15
11 months < 1 year6.757.15
1 yeor < 12 months 5 days7.757.95
12 months 5 days < 12 months 11 days8.058.25
12 months 11 days < 13 months7.757.95
13 months < 14 months7.757.95
14 months < 15 months7.657.9
15 months < 16 months7.657.9
16 months < 17 months7.657.9
17 months < 18 months7.657.9
18 Months < 2 years7.657.9
2 years < 30 months7.657.9
30 months < 3 years7.57.75
3 years < 5 years7.57.5
5 years to 10 years7.57.5

Post offices also offer fixed deposits at an interest rate ranging from 6.60-7.40 per cent. However, some small finance banks offer as much as 9 per cent interest on their fixed deposits.

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