Want to Open A FD Account? Compare Rates SBI, ICICI, Kotak, HDFC

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. 1 crore for general public, SBI currently pays an interest rate of 6.8 per cent. While HDFC Bank offers 7.10 per cent, ICICI Bank pays 7.25 per cent and Kotak Mahindra Bank offers 7.10% 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. 1 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. 10.02.2020

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)

TenorsRevised Rates For PublicRevised Rates for Senior Citizens
7 days to 45 days4.505.00
46 days to 179 days5.005.50
180 days to 210 days5.506.00
211 days to less than 1 year5.506.00
1 year to less than 2 year6.006.50
2 years to less than 3 years6.006.50
3 years to less than 5 years6.006.50
5 years and up to 10 years6.006.50

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 16th Nov, 2019 (per annum)

(Senior Citizen Rates do not apply to NRIs | Minimum tenor for NRE Deposit is 1 Year.)

Period< 2 Crore2 Crore to 5 Crores
Interest RateSenior CitizenInterest Rate**Senior Citizen
7 – 14 days3.50%4.00%4.00%4.50%
15 – 29 days4.00%4.50%4.00%4.50%
30 – 45 days4.90%5.40%4.50%5.00%
46 – 60 days5.40%5.90%5.00%5.50%
61 – 90 days5.40%5.90%5.00%5.50%
91 days – 6 months5.40%5.90%5.00%5.50%
6 mnths 1 days – 9 mnths5.80%6.30%5.50%6.00%
9 mnths 1 day < 1 Year6.05%6.55%5.75%6.25%
1 Year6.30%6.80%6.00%6.50%
1 year 1 day – 2 years6.30%6.80%6.00%6.50%
2 years 1 day – 3 years6.40%6.90%6.10%6.60%
3 year 1 day- 5 years6.30%6.80%6.10%6.60%
5 years 1 day – 10 years6.30%6.80%6.10%6.60%

ICICI Bank FD Rates (ICICI FD Account)

For Domestic & NRE*/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore)

Tenure PeriodRate of Interest (% p.a.) w.e.f December 07, 2019
GeneralSenior Citizen*
7 days to 14 days4.004.50
15 days to 29 days4.254.75
30 days to 45 days4.755.25
46 days to 60 days5.255.75
61 days to 90 days5.255.75
91 days to 120 days5.255.75
121 days to 184 days5.255.75
185 days to 289 days5.756.25
290 days to less than 1 year6.006.50
1 year to 389 days6.206.70
390 days to < 18 months6.306.80
18 months to 2 years6.306.80
2 years 1 day upto 3 years6.406.90
3 years 1 day upto 5 years6.406.90
5 years 1 day upto 10 years6.406.90
5 Years Tax saver FD(Max upto Rs. 1.50 lac)6.406.90

Kotak Mahindra Bank FD Rates:

Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from 13th February 2020 (subject to change from time to time) Less than Rs.2 Crore

Premature Withdrawal Allowed

INTEREST RATES FOR Domestic / NRO / NRE FIXED DEPOSITS effective from 13th February 2020. (Rates are subject to change from time to time)
Maturity Periods – Premature Withdrawal AllowedLess than Rs.2 Crore#Annualised Yield
7 – 14 Days3.50%3.50%
15 – 30 Days4.00%4.00%
31 – 45 Days4.50%4.50%
46 – 90 Days5.10%5.10%
91 – 120 Days5.25%5.25%
121 – 179 days5.40%5.40%
180 Days5.75%5.75%
181 Days to 269 Days5.80%5.88%
270 Days5.80%5.88%
271 Days to 363 Days6.05%6.14%
364 Days6.05%6.14%
365 Days to 389 Days6.20%6.35%
390 Days (12 months 25 days)6.20%6.35%
391 Days – Less than 23 Months6.20%6.35%
23 Months6.20%6.35%
23 months 1 Day- less than 2 years6.20%6.35%
2 years- less than 3 years6.20%6.35%
3 years and above but less than 4 years6.10%6.24%
4 years and above but less than 5 years6.10%6.24%
5 years and above upto and inclusive of 10 years6.00%6.14%

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.

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