Want to Open A FD Account? Compare Rates by SBI, ICICI, Kotak, HDFC. Want To Open A Fixed Deposit (FD) Account? Compare Interest Rates Paid By Top Banks in India. The fixed deposits (FDs) usually offer higher interest rates to senior citizens as compared to those for the general public.
Want to Open A FD Account? Know FD Rates
Fixed deposit (FD) accounts offer higher interest rates than savings accounts. Banks keep on revising their fixed deposit interest rates from time-to-time. On a four-year fixed deposit below Rs. 2 crore for general public, SBI currently pays an interest rate of 6.20 per cent. While HDFC Bank offers 6.25 per cent, ICICI Bank pays 6.30 per cent and Kotak Mahindra Bank offers 5.25% interest for the same tenor and amount.
Here are fixed deposit or FD interest rates offered by State Bank of India, HDFC Bank, ICICI Bank and Kotak Mahindra Bank on deposits below Rs. 2 crore
SBI FD Interest Rates:
For Domestic & NRE*/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore)
Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. 08-01-2021
Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore ‘have been revised.The revised interest rates are as under :
(All figures in % per annum)
| SBI FD Interest Rates (p.a.) | ||
| Tenure | Regular Customers | Senior Citizens |
| 7 days to 45 days | 2.90% | 3.40% |
| 46 days to 179 days | 3.90% | 4.40% |
| 180 days to 210 days | 4.40% | 4.90% |
| 211 days to less than 1 year | 4.40% | 4.90% |
| 1 year to less than 2 years | 5.00% | 5.50% |
| 2 years to less than 3 years | 5.10% | 5.60% |
| 3 years to less than 5 years | 5.30% | 5.80% |
| 5 years and up to 10 years | 5.40% | 6.20%* |
The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate. The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50% above the rate payable for all tenors to resident Indian senior citizens i.e. SBI resident Indian Senior Citizen Pensioners will get both the benefits of Staff (1%) and resident Indian Senior Citizens (0.50%).
HDFC Bank FD Rates
1. For Domestic & NRE*/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore)
Applicable from 13th Nov, 2020 (Senior Citizen Rates do not apply to NRIs | Minimum tenor for NRE Deposit is 1 Year.)
| Tenor Bucket | Interest Rate (per annum) | **Senior Citizen Rates (per annum) |
|---|---|---|
| 7 – 14 days | 2.50% | 3.00% |
| 15 – 29 days | 2.50% | 3.00% |
| 30 – 45 days | 3.00% | 3.50% |
| 46 – 60 days | 3.00% | 3.50% |
| 61 – 90 days | 3.00% | 3.50% |
| 91 days – 6 months | 3.50% | 4.00% |
| 6 mnths 1 days – 9 mnths | 4.40% | 4.90% |
| 9 mnths 1 day < 1 Year | 4.40% | 4.90% |
| 1 Year | 4.90% | 5.40% |
| 1 year 1 day – 2 years | 4.90% | 5.40% |
| 2 years 1 day – 3 years | 5.15% | 5.65% |
| 3 year 1 day- 5 years | 5.30% | 5.80% |
| 5 years 1 day – 10 years | 5.50% | 6.25%* |
ICICI Bank FD Rates (ICICI FD Account)
For Domestic & NRE*/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore)
Interest rates (per cent per annum) w.e.f. October 21st, 2020
(Less than ₹ 2 crore)
| Maturity Period | General | **Senior Citizen |
| 7 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 120 days | 3.50% | 4.00% |
| 121 days to 184 days | 3.50% | 4.00% |
| 185 days to 210 days | 4.40% | 4.90% |
| 211 days to 270 days | 4.40% | 4.90% |
| 271 days to 289 days | 4.40% | 4.90% |
| 290 days to less than 1 year | 4.40% | 4.90% |
| 1 year to 389 days | 4.90% | 5.40% |
| 390 days to < 18 months | 4.90% | 5.40% |
| 18 months to 2 years | 5.00% | 5.50% |
| 2 years 1 day to 3 years | 5.15% | 5.65% |
| 3 years 1 day to 5 years | 5.35% | 5.85% |
| 5 years 1 day to 10 years | 5.50% | #6.30% |
| 5 Years (80C FD) – Max to ₹ 1.50 lac | 5.35% | 5.85% |
Kotak Mahindra Bank FD Rates:
Premature Withdrawal Allowed
INTEREST RATES FOR Domestic / NRO / NRE FIXED DEPOSITS effective from 4th February 2021. (Rates are subject to change from time to time)
| Maturity Periods – Premature Withdrawal Allowed | Less than Rs.2 Crore# |
| 7 – 14 Days | 2.50% |
| 15 – 30 Days | 2.50% |
| 31 – 45 Days | 2.75% |
| 46 – 90 Days | 2.75% |
| 91 – 120 Days | 3.25% |
| 121 – 179 days | 3.25% |
| 180 Days | 4.40% |
| 181 Days to 269 Days | 4.40% |
| 270 Days | 4.40% |
| 271 Days to 363 Days | 4.40% |
| 364 Days | 4.40% |
| 365 Days to 389 Days | 4.50% |
| 390 Days (12 months 25 days) | 4.75% |
| 391 Days – Less than 23 Months | 4.75% |
| 23 Months | 4.75% |
| 23 months 1 Day- less than 2 years | 4.75% |
| 2 years- less than 3 years | 5.00% |
| 3 years and above but less than 4 years | 5.10% |
| 4 years and above but less than 5 years | 5.20% |
| 5 years and above upto and inclusive of 10 years | 5.25% |
Meanwhile, small finance banks offer much higher interest rates on fixed deposit or FD account than larger peers like State Bank of India (SBI), HDFC Bank and ICICI Bank.
Recommended