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Fixed Deposit (FD) Interest Rates: ICICI Bank Vs HDFC Bank Vs SBI Vs Kotak Mahindra Bank

Fixed Deposits (FD) are a safe investment option as fixed deposit interest rates are fixed and pre-decided at the time of investment.

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Fixed Deposit (FD) Interest Rates: ICICI Bank Vs HDFC Bank Vs SBI Vs Kotak Mahindra Bank

On a tenure of three years, State Bank of India (SBI) offers an interest rate of 6%.


Fixed Deposits (FD) are a safe investment option as fixed deposit interest rates are fixed and pre-decided at the time of investment. Fixed deposit interest rates, thus, offer assured returns to customers. However, different banks offer varying interest rates on their fixed deposits. For example, on a tenure of three years, State Bank of India (SBI), the largest lender of the country, offers an interest rate of 6 per cent. On the same tenure, ICICI Bank and HDFC Bank offer 6.5 per cent and 6 per cent each. Kotak Mahindra Bank offers 6.5 per cent on a fixed deposit of the same tenure.

(Also read: Fixed Deposits Vs Liquid Funds: Which Is A Better Choice For You?)

Here are the interest rates offered by SBI, ICICI Bank, HDFC Bank and Kotak Mahindra Bank on fixed deposits of varying tenures:

State Bank of India (SBI) fixed deposit interest rates

SBI revised interest rates on retail domestic term deposits (below Rs 1 Crore) with effect from 01.11.2017, said the bank on its website, sbi.co.in. Accordingly, the interest rates for retail domestic term deposits 'Below Rupees One Crore' have been revised. The revised interest rates are as under :

(All figures in % per annum)
 
TenorsRevised For Public w.e.f. 01.11.2017Revised for Senior Citizens w.e.f. 01.11.2017
7 days to 45 days
5.25
5.75
46 days to 179 days
6.25
6.75
180 days to 210 days
6.25
6.75
211 days to less than 1 year
6.25
6.75
1 year
6.25
6.75
Above 1 year to 455 days
6.25
6.75
456 days to less than 2 years
6.25
6.75
2 years to less than 3 years
6
6.5
3 years to less than 5 years
6
6.5
5 years and up to 10 years
6
6.5


ICICI Bank fixed deposit interest rates

Interest rates on Domestic, NRO & NRE deposits (Less than Rs 1 crore), acccording to the bank's website, icicibank.com.
 
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


HDFC Bank fixed deposit interest rates

Domestic / NRO / NRE TERM DEPOSITS
Senior Citizen Rates do not apply to NRIs | Minimum tenor for NRE Deposit is 1 Year, said HDFC bank on its website, hdfcbank.com.

 
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%


Kotak Mahindra Bank fixed deposit interest rates

Interest rates for domestic / NRO / NRE fixed deposits - premature withdrawal allowed

The following interest rates on fixed deposits are effective from 5th February 2018  and are subject to change from time to time, said Kotak Mahindra Bank on its website, kotak.com.
 
 RegularSenior Citizen*
Maturity Periods - Premature Withdrawal AllowedLess than Rs.1 Crore#Less than Rs.1 Crore#
7 - 14 Days3.50%4.00%
15 - 30 Days4.00%4.50%
31 - 45 Days5.00%5.50%
46 - 90 Days5.40%5.90%
91 - 120 Days6.00%6.50%
121 - 179 days6.25%6.75%
180 Days6.60%7.10%
181 Days to 269 Days6.70%7.20%
270 Days6.70%7.20%
271 Days to 363 Days6.70%7.20%
364 Days6.70%7.20%
365 Days to 389 Days6.80%7.30%
390 Days (12 months 25 days)6.85%7.35%
391 Days - Less than 23 Months6.80%7.30%
23 Months6.80%7.30%
23 months 1 Day- less than 2 years6.70%7.20%
2 years- less than 3 years6.70%7.20%
3 years and above but less than 4 years6.50%7.00%
4 years and above but less than 5 years6.50%7.00%
5 years and above upto and inclusive of 10 years6.25%6.75%


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