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FD and RD rates: What SBI, HDFC, ICICI, Kotak Mahindra, Axis and Bank of Baroda are offering

FD and RD rates: What SBI, HDFC, ICICI, Kotak Mahindra, Axis and Bank of Baroda are offering

FD and RD rates: What SBI, HDFC, ICICI, Kotak Mahindra, Axis and Bank of Baroda are offering
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By CNBCTV18.com Apr 21, 2022 7:31:25 PM IST (Published)

The State Bank of India offers attractive interest rates on fixed deposits for multiple tenures with many attractive features and benefits.

A host of banks have updated their Fixed Deposit (FD) and Recurring Deposit (RD) interest rates. While the HDFC Bank updated its interest rates for FDs on Wednesday, others such as Kotak Mahindra Bank, Axis Bank, SBI, and Bank of Baroda revised them in the last few weeks.

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Here is a comparison of interest rates offered by these banks on FDs and RDs.
State Bank of India (SBI)
The State Bank of India offers attractive interest rates on fixed deposits for multiple tenures with many attractive features and benefits. A Recurring Deposit account with the bank can be opened for a minimum deposit of Rs 100.
Interest rate on fixed deposits (per annum) below Rs 2 crore
TenureInterest Rate for Normal CitizensInterest Rate for Senior Citizens
7 to 45 days2.90%3.40%
46 to 179 days3.90%4.40%
180 to 210 days4.40%4.90%
211 days to less than 1 year4.40%4.90%
1 year to less than 2 years5%5.50%
2 years to less than 3 years5.10%5.60%
3 years to less than 5 years5.30%5.80%
5 years and up to 10 years5.40%6.20%
Interest Rate on recurring deposits per annum
TenureInterest Rate for Normal CitizensInterest Rate for Senior Citizens
1 year to less than 2 years5.10%5.60%
2 years to less than 3 years5.20%5.70%
3 years to less than 5 years5.45%5.95%
5 years to 10 years5.50%6.30%
HDFC Bank
HDFC bank revised its interest rates on FDs on April 7, 2022, and the new rates have taken effect from the same date. HDFC bank also offers attractive interest rates on various deposit/savings schemes.
Interest rates (per annum) for fixed deposits below Rs 2 crore
TenureInterest Rate for normal citizensInterest rate for senior citizens
7 to 14 days2.50%3%
15 to 29 days2.50%3%
30 to 45 days3%3.50%
46 to 60 days3%3%
61 to 90 days3%3.50%
91 days to 6 months3.50%4.00%
6 months 1 day to 9 months4.40%4.90%
9 months 1 day to less than 1 Year4.40%4.90%
1 year 1 day to 2 years5.10%5.60%
2 years 1 day to 3 years5.20%5.70%
3 years 1 day to 5 years5.45%5.95%
5 years 1 day to 10 years5.60%6.35%*
 
Interest rates on recurring deposits (per annum)
TenureInterest Rate for normal citizensInterest rate for senior citizens
6 Months3.50%4%
9 Months4.40%4.90%
12 Months5.10%5.60%
15 Months5.10%5.60%
24 Months5.10%5.60%
27 Months5.20%5.70%
36 Months5.20%5.70%
39 Months5.45%5.95%
48 Months5.45%5.95%
60 Months5.45%5.95%
90 Months5.60%6.35%*
120 Months5.60%6.35%*
Kotak Mahindra Bank
Private lender Kotak Mahindra Bank hiked the interest rates on FDs earlier this month. The bank offers attractive interest rates on both FDs and RDs of different tenures.
TenureInterest Rate for normal citizensInterest rate for senior citizens
7 to 14 Days2.50%3%
15 to 30 Days2.50%3%
31 to 45 Days2.75%3.25%
46 to 90 Days2.75%3.25%
91 to 120 Days3%3.50%
121 to 179 days3.50%4%
180 Days4.50%5%
181 Days to 269 Days4.50%5%
270 Days4.50%5%
271 Days to 363 Days4.50%5%
364 Days4.75%5.25%
365 Days to 389 Days5.10%5.60%
390 Days (12 months 25 days)5.20%5.70%
391 Days to Less than 23 Months5.20%5.70%
23 Months5.25%5.75%
23 months 1 Day to less than 2 years5.25%5.75%
2 years to less than 3 years5.30%5.80%
3 years and above but less than 4 years5.45%5.95%
4 years and above but less than 5 years5.50%6%
 
Interest Rates (per annum) on recurring deposits of less than Rs 2 crore
TenureInterest Rate for normal citizensInterest rate for senior citizens
6 Months4.50%5%
9 Months4.50%5%
12 Months5.10%5.60%
15 Months5.20%5.70%
18 Months5.20%5.70%
21 Months5.20%5.70%
24 Months5.30%5.80%
27 Months5.30%5.80%
30 Months5.30%5.80%
33 Months5.30%5.80%
3 years to less than 4 years5.45%5.95%
4 years to less than 5 years5.50%6%
Axis Bank
Private lender Axis Bank also hiked interest rates on fixed deposits for selected tenures earlier in March. The revised rate was applicable from March 21. Here are the interest rates for both FDs and RDs of different tenures.
TenureInterest Rate for normal citizensInterest rate for senior citizens
7 days to 14 days2.50%2.50 percent
15 days to 29 days2.50%2.50 percent
30 days to 45 days3.00%3.00 percent
46 days to 60 days3%3%
61 days to less than 3 months3%3%
3 months to less than 4 months3.50%3.50%
4 months to less than 5 months3.50%3.50%
5 months to less than 6 months3.50%3.50%
6 months to less than 7 months4.40%4.65%
7 months to less than 8 months4.40%4.65%
8 months to less than 9 months4.40%4.65%
9 months to less than 10 months4.40%4.65%
10 months to less than 11 months4.40%4.65%
11 months to less than 11 months 25 days4.40%4.65%
11 months 25 days to less than 1 year4.40%4.65%
1 year to less than 1 year 5 days5.10%5.75%
1 year 5 days to less than 1 year 11 days5.15%5.80%
1 year 11 days to less than 1 year 25 days5.30%5.95%
1 year 25 days to less than 13 months5.15%5.80%
13 months to less than 14 months5.15%5.80%
14 months to less than 15 months5.15%5.80%
15 months to less than 16 months5.20%5.85%
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