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Fixed deposit interest rates: SBI vs HDFC Bank vs ICICI Bank

Fixed deposit interest rates: SBI vs HDFC Bank vs ICICI Bank

Fixed deposit interest rates: SBI vs HDFC Bank vs ICICI Bank
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By CNBCTV18.com Dec 18, 2020 5:10:51 PM IST (Published)

Here's a comparison of FD interest rates offered by some of the key banks.

Fixed deposits (FDs), also known as term deposits (TDs), are fixed-income instruments that offer guaranteed returns over a pre-defined period of lock-in.  These are offered by public and private sector banks, small finance banks as well as non-banking finance companies (NBFCs).

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Lenders provide a range of maturity options to retail customers for setting up fixed deposits, starting from seven days to as long as 10 years.
The interest rates offered on FDs are subject to change from time to time, which also varies from lenders to lenders. Senior citizens usually get a higher rate of interest on fixed deposits compared to the general public.
Here's a comparison of FD interest rates offered by some of the key banks:
SBI Fixed Deposit Rates
State Bank of India (SBI) offers the following FD interest rates on deposits below Rs 2 crore:
TenorsRates for publicRates for senior citizens
7 days to 45 days2.93.4
46 days to 179 days3.94.4
180 days to 210 days4.44.9
211 days to less than 1 year4.44.9
1 year to less than 2 year4.95.4
2 years to less than 3 years5.15.6
3 years to less than 5 years5.35.8
5 years and up to 10 years5.46.2
(Source: sbi.co.in)
HDFC Bank Fixed Deposit Rates
HDFC Bank offers the following FD interest rates on deposits below Rs 2 crore:
TenorRates for publicRates for senior citizens
7 - 14 days2.50%3.00%
15 - 29 days2.50%3.00%
30 - 45 days3.00%3.50%
46 - 60 days3.00%3.50%
61 - 90 days3.00%3.50%
91 days - 6 months3.50%4.00%
6 months 1 days - 9 months4.40%4.90%
9 months 1 day < 1 Year4.40%4.90%
1 Year4.90%5.40%
1 year 1 day - 2 years4.90%5.40%
2 years 1 day - 3 years5.15%5.65%
3 year 1 day- 5 years5.30%5.80%
5 years 1 day - 10 years5.50%6.25%*
ICICI Bank Fixed Deposit Rates
ICICI Bank offers the following FD interest rates on deposits below Rs 2 crore:
TenorRates for publicRates for senior citizens
7 days to 14 days2.50%3.00%
15 days to 29 days2.50%3.00%
30 days to 45 days3.00%3.50%
46 days to 60 days3.00%3.50%
61 days to 90 days3.00%3.50%
91 days to 120 days3.50%4.00%
121 days to 184 days3.50%4.00%
185 days to 210 days4.40%4.90%
211 days to 270 days4.40%4.90%
271 days to 289 days4.40%4.90%
290 days to less than 1 year4.40%4.90%
1 year to 389 days4.90%5.40%
390 days to < 18 months4.90%5.40%
18 months to 2 years5.00%5.50%
2 years 1 day to 3 years5.15%5.65%
3 years 1 day to 5 years5.35%5.85%
5 years 1 day to 10 years5.50%#6.30%
5 Years (80C FD) – Max to ₹ 1.50 lac5.35%5.85%
(Source: icicibank.com)
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