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FD Interest Rates Of ICICI Bank, Kotak Mahindra Bank, SBI, Axis Bank, HDFC Bank

The idea is to invest money in FDs, earn a good interest rate until a specific time period and thus, not only create savings but also earn an interest income on the same.

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FD Interest Rates Of ICICI Bank, Kotak Mahindra Bank, SBI, Axis Bank, HDFC Bank

Fixed deposits help people park their money with banks for attractive interest rates.

Highlights

  1. Fixed deposits are of varying tenures
  2. Tax-saving FDs do not allow customers facility of premature withdrawal
  3. Regular FDs offer premature withdrawal facility
Fixed deposits (FD) or term deposits are offered by all banks. Fixed deposits help people park their money with banks for attractive interest rates. Fixed deposits are of varying tenures. The idea is to invest money in FDs, earn a good interest rate until a specific time period and thus, not only create savings but also earn an interest on the same. That is way fixed deposits are popular as a savings instrument among customers. Tax-saving FDs do not allow customers the facility of premature withdrawal while the regular FDs offer a premature withdrawal facility to customers.

Here are the interest rates on fixed deposits (with premature withdrawal facility) offered by Kotak Mahindra Bank, State Bank of India (SBI),  ICICI Bank, HDFC Bank, Axis Bank:

Kotak Mahindra Bank fixed deposit interest rates

INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS - PREMATURE WITHDRAWAL ALLOWED

The interest rates are subject to change from time to time, said Kotak Mahindra Bank on its website, kotak.com/bank. Interest Rates for Domestic / NRO / NRE fixed deposits effective from March 5, 2018 are given below:
 
 RegularSenior Citizen*
Maturity Periods - Premature Withdrawal AllowedLess than Rs.1 Crore#Annualised YieldLess than Rs.1 Crore#Annualised Yield
7 - 14 Days3.50%3.50%4.00%4.00%
15 - 30 Days4.00%4.00%4.50%4.50%
31 - 45 Days5.00%5.00%5.50%5.50%
46 - 90 Days5.40%5.40%5.90%5.90%
91 - 120 Days6.00%6.00%6.50%6.50%
121 - 179 days6.25%6.25%6.75%6.75%
180 Days6.60%6.60%7.10%7.10%
181 Days to 269 Days6.70%6.81%7.20%7.33%
270 Days6.70%6.81%7.20%7.33%
271 Days to 363 Days6.70%6.81%7.20%7.33%
364 Days6.70%6.81%7.20%7.33%
365 Days to 389 Days6.80%6.98%7.30%7.50%
390 Days (12 months 25 days)6.90%7.08%7.40%7.61%
391 Days - Less than 23 Months6.80%6.98%7.30%7.50%
23 Months6.80%6.98%7.30%7.50%
23 months 1 Day- less than 2 years6.70%6.87%7.20%7.40%
2 years- less than 3 years6.70%6.87%7.20%7.40%
3 years and above but less than 4 years6.50%6.66%7.00%7.19%
4 years and above but less than 5 years6.50%6.66%7.00%7.19%
5 years and above upto and inclusive of 10 years6.25%6.40%6.75%6.92%

State Bank of India (SBI) fixed deposit interest rates
SBI revised its interest rates on retail domestic term deposits (below Rs 1 crore) with effect from 28.02.2018, according to SBI's website, sbi.co.in.

(Also read: State Bank of India (SBI) Recurring Deposit (RD) Interest Rates Go Up)

The revised interest rates are as under:

(All figures in % per annum)
 
TenorsRevised For Public w.e.f. 28.02.2018Revised for Senior Citizens w.e.f. 28.02.2018
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
6.4
6.9
Above 1 year to 455 days
6.4
6.9
456 days to less than 2 years
6.4
6.9
2 years to less than 3 years
6.5
7
3 years to less than 5 years
6.5
7
5 years and up to 10 years
6.5
7

ICICI Bank fixed deposit interest rates
Interest rates on Domestic, NRO & NRE deposits (Less than Rs 1 crore), according to 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, according to 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 days
 
6.25%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%

Axis Bank fixed deposit interest rates

Axis Bank's fixed deposit interest rates are effective from March 5, 2018, according to its website, axisbank.com.

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

The following are the interest rates offered by Axis Bank on deposits less than Rs 5 crore: 

 
Serial no.PERIODINTEREST RATES (% P.A.)
  INTEREST RATE ON DEPOSITS
BELOW RS. 1 CRORE
INTEREST RATES ON DEPOSITS OF
RS. 1 CRORE < RS.5 CRORES
1.7 days to 14 days3.505.50
2.15 days to 29 days3.505.50
3.30 days to 45 days5.506.00
4.46 days to 60 days6.006.30
5.61 days < 3 months6.006.50
6.3 months < 4 months6.007.05
7.4 months < 5 months6.007.00
8.5 months < 6 months6.007.00
9.6 months < 7 months6.257.00
10.7 months < 8 months6.257.00
11.8 months < 9 months6.257.00
12.9 months < 10 months6.507.00
1310 months < 11 months6.507.00
14.11 months < 1 year6.507.00
15.1 year < 13 months6.757.15
16.13 months < 14 months6.757.00
17.14 months < 15 months6.757.00
18.15 months < 16 months6.757.00
19.16 months < 17 months6.757.00
20.17 months < 18 months6.907.00
21.18 Months < 2 years6.907.00
22.2 years < 30 months6.907.00
23.30 months < 3 years6.906.50
24.3 years < 5 years6.906.50
25.5 years to 10 years6.906.50

Axis Bank fixed deposit interest rates for senior citizens for deposits less than Rs 5 crore with effect from March 5, 2018:
Serial no.PERIODINTEREST RATES (70 P.A.)
  INTEREST RATE ON DEPOSITS
BELOW RS. I CRORE
3.50
INTEREST RATES ON DEPOSITS OF
RS. 1 CRORE < RS .5 CRORES
5.50
1.7 days to 14 days
2.15 days to 29 days3.505.50
3.30 days to 45 days5.506.00
4.46 days to 60 days6.006.30
5.61 days < 3 months6.006.50
6.3 months < 4 months6.007.05
7.4 months < 5 months6.007.00
8.5 months < 6 months6.007.00
9.6 months < 7 months6.507.25
10.7 months <8 months6.507.25
11.8 months < 9 months6.507.25
12.9 months < 10 months6.757.25
1310 months < 11 months6.757.25
14.11 months < I year6.757.25
15.I year < 13 months7.407.80
16.13 months < 14 months7.407.65
17.14 months < 15 months7.407.65
18.15 months < 16 months7.407.65
19.16 months < 17 months7.407.65
20.17 months < 18 months7.557.65
21.18 Months < 2 years7.557.65
22.2 years < 30 months7.557.65
23.30 months < 3 years7.407.00
24.3 years < 5 years7.407.00
25.5 years to 10 years7.407.00

FDs offer more security as compared to savings instruments that are linked to markets like stocks and bonds.

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