The Latest Fixed Deposit (FD) Rates Of SBI, ICICI Bank, HDFC Bank, Axis Bank

The Latest Fixed Deposit (FD) Rates Of SBI, ICICI Bank, HDFC Bank, Axis Bank

The Interest rates on fixed deposits are vary widely depending on their tenure, offered by various banks. So, before investing in Fixed Deposits the customers need to compare the best rates offered by the banks. SBI offers an interest rate of 6.25 percent for 1 year tenure of fixed deposit for less than Rs. 1 Crore. ICICI bank 6.5 percent, HDFC Bank offers 6.75 percent and Axis bank offers 6.5 percent on the same tenure and deposit amount.

The Fixed Deposit rates offered by the four banks are given below: 

State Bank of India (SBI) Fixed Deposit Rates: SBI, India’s largest bank, has cut its bank FD rates by 25 basis points across most maturities, with effect from November 1, 2017. A one-year SBI fixed deposit will fetch an interest rate of 6.25 per cent, from 6.50 per cent earlier, according to the bank’s website. Senior citizens will get 6.75 per cent, as compared to 7 per cent earlier. The revised interest rates are as under:

Tenors Revised For Public w.e.f. 01.11.2017 (%) Revised for Senior Citizens w.e.f. 01.11.2017 (%)
7 days to 45 days 5.25 5.75
46 days to 179 days 6.25 6.75
180 days to 210 days 6.25 6.75
211 days to less than 1 year 6.25 6.75
1 year 6.25 6.75
Above 1 year to 455 days 6.25 6.75
456 days to less than 2 years 6.25 6.75
2 years to less than 3 years 6 6.5
3 years to less than 5 years 6 6.5
5 years and up to 10 years 6 6.5

ICICI Bank Fixed Deposit Rates: Interest rates on Domestic, NRO & NRE deposits(Less than Rs.1 crore)

Tenure Period Rate of Interest (% p.a.) w.e.f July 19, 2017
General Senior Citizen*
7 days to 14 days 4 4.5
15 days to 29 days 4.25 4.75
30 days to 45 days 5.5 6
46 days to 60 days 5.75 6.25
61 days to 90 days 6 6.5
91 days to 120 days 6 6.5
121 days to 184 days 6 6.5
185 days to 289 days 6.25 6.75
290 days to less than 1 year 6.5 7
1 year to 389 days 6.75 7.25
390 days to 2 years 6.75 7.25
2 years 1 day upto 5 years 6.5 7
5 years 1 day upto 10 years 6.5 7
5 Years Tax saver FD(Max upto Rs. 1.50 lac) 6.5 7

HDFC Bank Fixed Deposit Rates: Domestic / NRO / NRE Term Deposits

Period                                < 1 Crore       >=1 Crore to < 5 Crores
Interest Rate  **Senior Citizen Rates  Interest Rate  **Senior Citizen Rates 
(per annum) (per annum) (per annum) (per annum)
7 – 14 days 3.50% 4.00% 4.25% 4.75%
15 – 29 days 4.25% 4.75% 4.25% 4.75%
30 – 45 days 5.50% 6.00% 4.25% 4.75%
46 – 60 days 5.75% 6.25% 6.00% 6.50%
61 – 90 days 5.75% 6.25% 6.05% 6.55%
91 days – 6 months 5.75% 6.25% 6.25% 6.75%
6 mnths 1 day- 6 mnths 3 days 6.00% 6.50% 5.25% 5.75%
6 mnths 4 days 6.00% 6.50% 6.30% 6.80%
6 mnths 5 days- 9 mnths 6.00% 6.50% 5.25% 5.75%
9 mnths 1 day- 9 mnths 3 days 6.00% 6.50% 5.25% 5.75%
9 mnths 4 days 6.00% 6.50% 6.30% 6.80%
9 months 5 days – 9 months 15 days 6.00% 6.50% 5.25% 5.75%
9 months 16 days 6.25% 6.75% 5.25% 5.75%
9 months 17 days < 1 Year 6.25% 6.75% 5.25% 5.75%
1 Year 6.75% 7.25% 6.50% 7.00%
1 year 1 day – 1 year 3 days 6.75% 7.25% 4.90% 5.40%
1 year 4 days 6.25% 6.75% 6.50% 7.00%
1 year 5 days – 1 Year 15 Days 6.25% 6.75% 5.00% 5.50%
1 Year 16 days 6.25% 6.75% 5.00% 5.50%
1 year 17 days – 2 Years 6.25% 6.75% 5.00% 5.50%
2 years 1day – 2 Years 15 days 6.00% 6.50% 4.85% 5.35%
2 Years 16 days 6.00% 6.50% 4.85% 5.35%
2 years 17 days – 3 Years 6.00% 6.50% 4.85% 5.35%
3 years 1day – 5 years 6.00% 6.50% 4.85% 5.35%
5 Years 1 Day – 8 Years 6.00% 6.50% 4.85% 5.35%
8 Years 1 Day – 10 Years 6.00% 6.50% 4.85% 5.35%

Axis Bank Fixed Deposit Rates: These are Axis Bank’s Fixed Deposit rates with effect from 10.10.2017

Period Interest rates (% P.A.)
Interest rate on deposits below Rs.1 crore Interest rates on deposits of Rs. 1 Crore < Rs.5 Crore
7 days to 14 days 3.5 5.5
15 days to 29 days 3.5 5.5
30 days to 45 days 5.5 5.5
46 days to 60 days 6 6
61 days < 3 months 6 6
3 months < 4 months 6.2 6
4 months < 5 months 6.25 6
5 months < 6 months 6.25 6
6 months < 7 months 6.25 6.25
7 months < 8 months 6.25 6.25
8 months < 9 months 6.25 6.25
9 months < 10 months 6.5 6.25
10 months < 11 months 6.5 6.25
11 months < 1 year 6.5 6.25
1 year < 13 months 6.75 6.5
13 months < 14 months 6.75 6.5
14 months < 15 months 6.75 6.5
15 months < 16 months 6.75 6.5
16 months < 17 months 6.75 6.5
17 months < 18 months 6.85 6.6
18 Months < 2 years 6.25 6
2 years < 30 months 6.25 6
30 months < 3 years 6.25 6
3 years < 5 years 6.25 6
5 years to 10 years 6.25 6

Following are Axis Bank’s Fixed deposit rates for senior citizens

Interest rates (% P.A.)
Interest rate on deposits below Rs. 1 Crore Interest rates on deposits of Rs. 1 Crore < Rs.5 Crore
7 days to 14 days 3.5 5.5
15 days to 29 days 3.5 5.5
30 days to 45 days 5.5 5.5
46 days to 60 days 6 6
61 days < 3 months 6 6
3 months < 4 months 6.2 6
4 months < 5 months 6.25 6
5 months < 6 months 6.25 6
6 months < 7 months 6.5 6.5
7 months < 8 months 6.5 6.5
8 months < 9 months 6.5 6.5
9 months < 10 months 6.75 6.5
10 months < 11 months 6.75 6.5
11 months < 1 year 6.75 6.5
1 year < 13 months 7.25 7
13 months < 14 months 7.25 7
14 months < 15 months 7.25 7
15 months < 16 months 7.25 7
16 months < 17 months 7.25 7
17 months < 18 months 7.35 7.1
18 Months < 2 years 6.75 6.5
2 years < 30 months 6.75 6.5
30 months < 3 years 6.75 6.5
3 years < 5 years 6.75 6.5
5 years to 10 years 6.75 6.5

Bank fixed deposits (FDs) are one of the most popular instruments used to save money for the future. Despite falling interest rates, many people prefer FDs over other savings/investment products as they offer a secured return and easy access to liquidity in case of an emergency.

Although, bank FDs are most popular savings instrument in India, you must know that interest earned from a fixed deposit is taxable. Banks are liable to deduct TDS at the rate of 10 per cent on the interest earned (based on FD interest rates) if the interest income for the year is more than Rs. 10,000.

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