India's Largest Banks Give These Returns On Retail FDs Today. Compare Rates Here

FD Interest Rates 2020: The country's largest banks by market value provide interest rates up to 8.15% on fixed deposits below Rs 2 crore.

India's Largest Banks Give These Returns On Retail FDs Today. Compare Rates Here

Bank FD Interest rates: The country's largest banks by M-Cap provide a range of FD maturity options today

Highlights

  • Banks revise fixed deposit interest rates from time to time
  • SBI offers eight maturity options for fixed deposits up to Rs 2 crore
  • Fixed deposits of five-year lock-in period offer income tax benefits

Bank FD Rate 2020: Major banks in the country today provide a range of maturity options for retail fixed deposits. State Bank of India (SBI), HDFC Bank, Punjab National Bank (PNB), ICICI Bank, Kotak Mahindra Bank and Axis Bank - India's largest banks by market value - provide interest rates to the tune of 3.50-7.35 per cent on retail fixed deposits - or fixed deposits up to Rs 2 crore, according to their websites. Most of these banks provide up to 50 basis point higher returns to senior citizens in comparison to other customers. For example, SBI - the country's largest lender by assets - provides eight maturity options for retail FDs, ranging from seven days to 10 years. (Also read: How Post Office Interest Rates Compare With Banks)

These banks today provide the following returns on domestic retail fixed deposits (FDs):

SBI Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From November 10)
PublicSenior Citizen
Seven to 45 days4.50%5%
46 to 179 days5.50%6%
180 to 210 days5.80%6.30%
211 days to less than one year5.80%6.30%
One year to less than two years6.25%6.75%
Two years to less than three years6.25%6.75%
Three years to less than five years6.25%6.75%
Five years and up to 10 years6.25%6.75%
(Source: sbi.com)

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(SBI FD Interest Rate: On fixed deposits of two years, SBI pays a 6.75 per cent return to senior citizens and 6.25 per cent to other customers, according to its website)

HDFC Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From November 16)
PublicSenior Citizen
Seven to 14 days3.50%4.00%
15 to 29 days4.00%4.50%
30 to 45 days4.90%5.40%
46 to 60 days5.40%5.90%
61 to 90 days5.40%5.90%
91 days to six months5.40%5.90%
Six months and one day to nine months5.80%6.30%
Nine months and one day to less than one year6.05%6.55%
One year6.30%6.80%
One year and one day to two years6.30%6.80%
Two years and one day to three years6.40%6.90%
Three years and one day to five years6.30%6.80%
Five years and one day to 10 years6.30%6.80%
(Source: hdfcbank.com)

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(HDFC FD Interest Rates: On fixed deposits of two years, HDFC Bank gives a 6.80 per cent return to senior citizens and 6.30 per cent to other customers, according to its website)

Kotak Mahindra Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From November 27)
PublicSenior Citizen
Seven to 14 days3.50%4.00%
15 to 30 days4.00%4.50%
31 to 45 days4.75%5.25%
46 to 90 days5.25%5.75%
91 to 120 days5.40%5.90%
121 to 179 days5.40%5.90%
180 days5.75%6.25%
181 to 269 days5.80%6.30%
270 days5.80%6.30%
271 to 363 days6.05%6.55%
364 days6.05%6.55%
365 to 389 days6.30%6.80%
390 days (12 months and 25 days)6.30%6.80%
391 days to less than 23 months6.30%6.80%
23 months6.30%6.80%
23 months and one day to less than two years6.30%6.80%
Two years to less than three years6.25%6.75%
Three years and above but less than four years6.20%6.70%
Four years and above but less than five years6.20%6.70%
Five years and above up to and inclusive of 10 years6.10%6.60%
(Source: kotak.com)

ICICI Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From November 20)
PublicSenior Citizen
Seven to 14 days4%4.50%
15 to 29 days4.25%4.75%
30 to 45 days5%5.50%
46 to 60 days5.50%6%
61 to 90 days5.50%6%
91 to 120 days5.50%6%
121 to 184 days5.50%6%
185 to 289 days5.75%6.25%
290 days to less than one year6%6.50%
One year to 389 days6.35%6.85%
390 days to less than 18 months6.35%6.85%
18 months to two years6.60%7.10%
Two years and one day up to three years6.60%7.10%
Three years and one day up to five years6.60%7.10%
Five years and one day up to 10 years6.60%7.10%
Five years tax-saver FD6.60%7.10%
(Source: icicibank.com)

Axis Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From November 26)
PublicSenior Citizen
Seven to 14 days3.50%3.50%
15 to 29 days4.25%4.25%
30 to 45 days5%5%
46 to 60 days5.50%5.50%
61 days to less than three months5.50%5.50%
Three months to less than four months5.50%5.50%
Four months to less than five months5.50%5.50%
Five months to less than six months5.50%5.50%
Six months to less than seven months5.85%6.10%
Seven months to less than eight months5.85%6.10%
Eight months to less than nine months5.85%6.10%
Nine months to less than 10 months6.10%6.35%
10 months to less than 11 months6.10%6.35%
11 months to less than 11 months and 25 days6.10%6.35%
11 months and 25 days to less than one year6.50%6.75%
One year to less than one year and five days6.40%7.05%
One year and five days to less than one year and 11 days6.40%7.05%
One year and 11 days to less than one year and 25 days6.40%7.05%
One year and 25 days to less than 13 months6.50%7.15%
13 to less than 14 months6.40%7.05%
14 to less than 15 months6.40%7.05%
15 to less than 16 months6.40%7.05%
16 to less than 17 months6.40%7.05%
17 to less than 18 months6.40%7.05%
18 months to less than two years6.65%7.30%
Two years to less than 30 months6.70%7.35%
30 months to less than three years6.70%7.20%
Three years to less than five years6.70%7.20%
Five years to less than 10 years6.70%7.20%
(Source: Axis Bank)

IndusInd Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From October 11)
PublicSenior Citizen
Seven to 14 days4%4.5%
15 to 30 days4.25%4.75%
31 to 45 days5.25%5.75%
46 to 60 days5.75%6.25%
61 to 90 days5.80%6.3%
91 to 120 days5.90%6.4%
121 to 180 days5.95%6.45%
181 to 210 days6.35%6.85%
211 to 269 days6.40%6.9%
270 days to below one year6.50%7%
One year to one year and two months7.25%7.75%
Above one year and two months to one year and four months7.25%7.75%
Above one year and four months to below two years7.25%7.75%
Two years to below two years and six months7.25%7.75%
Two years and six months to below two years and nine months7.25%7.75%
Two years and nine months to below three years7.25%7.75%
Three years to below 61 months7.15%7.65%
61 months and above7.05%7.55%
IndusInd tax saver scheme (five years)7.15%7.65%
(Source: indusind.com)

Bandhan Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From September 16)
PublicSenior Citizen
Seven to 14 days3.5%4.25%
15 to 30 days4%4.75%
31 days to less than two months4%4.75%
Two months to less than three months4%4.75%
Three months to less than six months4.5%5.25%
Six months to less than one year6.8%7.55%
One year to 18 months7.25%8%
Above 18 months to less than two years7.25%8%
Two years to less than three years7.4%8.15%
Three years to less than five years7.35%8.1%
Five years to up to 10 years7.25%8%
(Source: bandhanbank.com)

Punjab National Bank (PNB) Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From December 1)
PublicSenior Citizen
Seven to 14 days4.5%5%
15 to 29 days4.5%5%
30 to 45 days4.5%5%
46 to 90 days5%5.5%
91 to 179 days5%5.5%
180 to 270 days6%6.5%
271 days to less than one year 6%6.5%
333 days6.1%6.6%
One year6.3%6.8%
444 days6.3%6.8%
555 days6.3%6.8%
Above one year and up to two years6.3%6.8%
Above two years and up to three years6.25%6.75%
Above three years and up to five years6.25%6.75%
Above five years and up to 10 years6.3%6.8%
(Source: pnbindia.in)

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(Punjab National Bank FD Interest Rates: On fixed deposits of two years, PNB gives a 6.8 per cent return to senior citizens and 6.3 per cent to other customers, according to its website)

Bank Of Baroda Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From November 26)
Seven to 40 days4.5%
15 to 45 days4.5%
46 to 90 days4.75%
91 to 180 days5.5%
181 to 270 days5.9%
271 days to less than one year5.9%
One year6.25%
Above one year to 400 days6.3%
Above 400 days up to two years6.25%
Above two years up to three years6.25%
Above three years up to five years6.25%
Above five years up to 10 years6.25%
(Source: bankofbaroda.in)

IDBI Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From November 11)
PublicSenior Citizen
Seven to 14 days3.5%4%
15 to 30 days4.5%5%
31 to 45 days4.75%5.25%
46 to 60 days 5.5%6%
61 to 90 days5.5%6%
91 days to six months5.6%6.1%
Six months and one day to 270 days5.75%6.25%
271 days to less than one year6%6.5%
One year6.45%6.95%
Above one year to two years6.4%6.9%
Above two years to less than three years6.25%6.75%
Three years to less than 1,111 days6.25%6.75%
1,111 days6.45%6.95%
Above 1,111 days to less than five years6.25%6.75%
Three years to less than five years6.25%6.75%
Five years6.25%6.75%
Above five years to seven years6.25%6.75%
Above seven years to 10 years6.25%6.75%
Above 10 years to 20 years6%6.5%
Five years (tax saving FD)6.25%6.75%
(Source: idbibank.in)

Union Bank Of India Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From December 17)
Seven to 14 days5%
15 to 30 days5%
31 to 45 days5%
46 to 90 days5.5%
91 to 120 days6%
121 to 180 days6.1%
181 days to less than one year6.15%
One year6.3%
More than one year to 443 days6.3%
444 days6.4%
445 to 554 days6.3%
555 days6.45%
556 days to three years6.3%
More than three years to five years6.3%
More than five years to 10 years6.3%
(Source: unionbankofindia.co.in)

Canara Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From November 18)
PublicSenior Citizen
Seven to 14 days4.5%5%
15 to 30 days4.5%5%
31 to 45 days4.5%5%
46 to 60 days5.5%6%
61 to 90 days5.5%6%
91 to 120 days5.5%6%
121 to 179 days5.5%6%
180 to 269 days5.95%6.45%
270 days to less than one year5.95%6.45%
One year6.4%6.9%
Above one year to less than two years6%6.5%
Two years to less than three years6%6.5%
Three years to less than five years6.25%6.75%
Five years to less than eight years6.25%6.75%
Eight years to 10 years6.25%6.75%
111 days5.5%6%
222 days5.95%6.45%
333 days5.95%6.45%
444 days6%6.5%
555 days6%6.5%
(Source: canarabank.com)

Bank Of India Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From October 10)
Seven to 14 days4.25%
15 to 30 days4.25%
31 to 45 days4.25%
46 to 90 days5.5%
91 to 179 days5.5%
180 to 269 days9%
270 days to less than one year6%
One year to less than two years6.4%
Two years to less than three years6.25%
Three years to less than five years6.25%
Five years to less than eight years6.25%
Eight years to 10 years6.25%
(Source: bankofindia.co.in)

Bank of India pays a 50-basis-point (0.5 percentage point) higher return to senior citizens depositing a minimum Rs 5,000 in comparison to the general public, according to the state-run lender's website.

IDFC First Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From October 10)
Seven to 14 days4%
15 to 29 days5%
30 to 45 days6.25%
46 to 90 days6.5%
91 to 180 days6.75%
181 days to less than one year7%
One year7.5%
One year and one day to two years7.5%
Two years and one day to five years7.25%
Five years and one day to 10 years7.25%
Tax saver deposit of five years7.25%
(Source: idfcfirstbank.com)

To senior citizen customers, IDFC First Bank offers a 0.50 per cent additional return on domestic fixed deposits up to Rs 2 crore, according to the the private sector lender's website.

Federal Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From October 10)
Seven to 14 days3.5%
15 to 29 days4.5%
30 to 60 days5%
61 to 90 days5.5%
91 to 180 days5.75%
181 to 270 days6.25%
271 days to one year6.5%
Above one year to less than 20 months6.6%
20 months6.7%
Above 20 months6.6%
(Source: federalbank.co.in)

To senior citizen customers, Federal Bank offers a 0.50 per cent additional return on deposits of all maturity options up to Rs 2 crore, according to its website.

Income Tax Benefit For Five-Year Fixed Deposit

Investment in fixed deposits with a maturity period of five years offers income tax benefit up to Rs 1.5 lakh per financial year under Section 80C of the Income Tax Act. Interest income, however, is subject to income tax.

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