SBI, PNB, ICICI Bank, HDFC Bank, Kotak Mahindra Bank Rates Compared

Top banks in the country provide returns up to 6.3% on fixed deposits at present

Top commercial banks in the country currently provide interest rates up to 6.30 per annum on fixed deposits, which come in a variety of terms starting from seven days and going to as high as 10 years. The country’s largest bank by market value, HDFC Bank, for example, provides interest rates to the tune of 2.50-5.50 per cent to the general public, and a higher 3-6.25 per cent to senior citizens, according to its website. (Also Read: Compare Post Office Fixed/Recurring Deposit Interest Rates)

Here’s a look at the current FD interest rates of SBI and other top lenders:

HDFC Bank 

Maturity period Interest rate with effect from July 21
Public Senior citizen
Seven days to 14 days 2.50% 3.00%
15 days to 29 days 2.50% 3.00%
30 days to 45 days 3.00% 3.50%
46 days to 60 days 3.00% 3.50%
61 days to 90 days 3.00% 3.50%
91 days to six months 4.00% 4.50%
Six months one day to nine months 4.40% 4.90%
Nine months one day to less than one year 4.50% 5.00%
One year 5.10% 5.60%
One year one day to two years 5.10% 5.60%
Two years one day to three years 5.20% 5.70%
Three years one day to five years 5.35% 5.85%
Five years one day to 10 years 5.50% 6.25%
(Source: hdfcbank.com)

Kotak Mahindra Bank 

Maturity period Interest rate with effect from June 22
Seven to 14 days 2.75%
15 to 30 days 3%
31 to 45 days 3%
46 to 90 days 3.50%
91 to 120 days 4.10%
121 to 179 days 4.10%
180 days 4.50%
181 to 269 days 4.75%
270 days 4.75%
271 to 363 days 4.75%
364 days 4.75%
365 to 389 days 5.15%
390 days (12 months and 25 days) 5.25%
391 days to less than 23 months 5.25%
23 months 5.25%
23 months and one day to less than two years 5.15%
Two years to less than three years 4.90%
Three years and above but less than four years 4.90%
Four years and above but less than five years 4.75%
Five years and above up to 10 years 4.50%
(Source: kotak.com)

ICICI Bank 

Maturity period Interest rate with effect from June 16
Public Senior citizen
Seven to 14 days 2.75% 3.25%
15 to 29 days 3.00% 3.50%
30 to 45 days 3.25% 3.75%
46 to 60 days 3.50% 4.00%
61 to 90 days 3.50% 4.00%
91 to 120 days 4.10% 4.60%
121 to 184 days 4.10% 4.60%
185 to 210 days 4.50% 5.00%
211 to 270 days 4.50% 5.00%
271 to 289 days 4.50% 5.00%
290 days to less than one year  4.75% 5.25%
One year to 389 days 5.15% 5.65%
390 days to less than 18 months 5.15% 5.65%
18 months and one day to two years 5.35% 5.85%
Two years and one day to three years 5.35% 5.85%
Three years and one day to five years 5.50% 6%
Five years and one day to 10 years 5.50% 6.30%
Five years tax-saver FD (maximum Rs 1.50 lakh) 5.50% 6%
(Source: icicibank.com)

State Bank Of India 

Maturity period Interest rate with effect from May 27
Public Senior citizen
Seven days to 45 days 2.9% 3.4%
46 days to 179 days 3.9% 4.4%
180 days to 210 days 4.4% 4.9%
211 days to less than one year 4.4% 4.9%
One year to less than two years 5.1% 5.6%
Two years to less than three years 5.1% 5.6%
Three years to less than five years 5.3% 5.8%
Five years and up to 10 years 5.4% 6.2%
(Source: sbi.co.in)

Punjab National Bank 

Maturity period Interest rate with effect from July 1
Public Senior citizen
Seven days to 14 days 3.00% 3.75%
15 days to 29 days 3.00% 3.75%
30 days to 45 days 3.00% 3.75%
46 days to 90 days 3.25% 4%
91 days to 179 days 4.00% 4.75%
180 days to 270 days 4.40% 5.15%
271 days to less than one year 4.50% 5.25%
333 days 4.50% 5.25%
One year 5.25% 6%
444 days 5.25% 6%
555 days 5.25% 6%
Above one year and up to two years 5.25% 6%
Above two years and up to three years 5.25% 6%
Above three years and up to five years 5.30% 6.15%
Above five years and up to 10 years 5.30% 6.15%
(Source: pnbindia.in)

IDBI Bank 

Maturity period Interest rate with effect from July 1
Public Senior citizen
Seven days to 14 days 3.00% 3.75%
15 to 30 days 3.00% 3.75%
31 to 45 days 3.00% 3.75%
46 to 60 days 3.25% 4%
61 to 90 days 4.00% 4.75%
91 to six months 4.40% 5.15%
Six months and one day to 270 days 4.50% 5.25%
271 days to less than one year 4.50% 5.25%
One year 5.25% 6%
More than one year to two years 5.25% 6%
More than two years to less than three years 5.25% 6%
Three years to less than five years 5.25% 6%
Five years 5.25% 6%
More than five years to seven years 5.30% 6.15%
More than seven years to 10 years  5.30% 6.15%
(Source: idbibank.in)

Meanwhile, small finance banks often pay higher fixed deposits compared to their larger counterparts.

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Cory Weinberg

About the author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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