SBI revises FD rates. How they compare with Yes Bank, ICICI Bank, HDFC Bank, Axis Bank
State Bank of India (SBI) has reduced interest rates on retail term deposits by 15 basis points on certain tenures, effective 10th January. The reduction in interest rates is for long-term fixed deposits (FD) below ₹2 crores. After the latest revision, SBI gives interest ranging from 4.5% to 6.10% to general customers and 5% to 6.60% to senior citizens. For fixed deposits maturing in seven days to 45 days and 46 days to 179 days, the bank is offering an interest rate of 4.50% and 5.50%, respectively. The term deposits maturing in 180 days to less than one-year are fetching an interest rate of 5.80%. The lender has slashed interest rates on fixed deposits maturing in one year to 10 years to 6.10% from 6.25%, as per the information on the bank’s website.
Let’s take a took at FD rates offered by ICICI Bank, Yes Bank, HDFC Bank, Axis Bank:
ICICI Bank latest FD interest rates
For FDs with a maturity of 7-14 days, ICICI Bank is offering 4%, 15-29 days 4.25%, 30-45 days 4.75%, 46-184 days 5.25%, 185 days to 289 days 5.75% and 290 days to less than 1 year 6%. On FDs maturing in 1 year to 389 days, the bank is offering a 6.20% interest rate, and on deposits maturing in 390 days to 2 years, ICICI Bank is offering 6.30% interest. ICICI Bank is offering a 6.40% interest rate on FDs maturing between two years and ten years. ICICI Bank gives interest rates ranging from 4.5% to 6.90% to senior citizens.
Yes Bank latest FD interest rates
Yes Bank offers interest rates in the range of 5% to 7.25% to the general public for deposits of up to ₹2 crores. For seven days to 45 days and 46 days to less than six months, the bank offers 5% and 6.25% interest rates respectively. Yes Bank offers a rate of interest of 6.85% for six months to less than nine months maturities. For deposits maturing in 9 months to less than 1 year, the bank offers an interest rate of 7.15%. For long-term FDs, maturing in one and up to ten years, the bank offers an interest rate of 7.25%. Yes Bank offers interest rates ranging from 5.50% to 7.75% to senior citizens on deposits maturing in 7 days to 10 years.
HDFC Bank latest FD interest rates
HDFC Bank offers fixed deposit maturities ranging from seven days to 10 years. It offers interest rates in the range of 3.5% to 6.3 % for the general public and 4% to 6.8% for senior citizens. For deposits maturing in 7-14 days, 15-29 days and 30-45 days, the bank gives 3.5%, 4%, and 4.9% respectively. For FDs maturing in 46 months to less than 6 months, HDFC Bank offers 5.40% interest. Deposits maturing in 6 months 1 day to 9 months will fetch an interest rate of 5.80%. FDs maturing in 9 months 1 day to less than 1 year will give 6.05% interest. Term deposits maturing in 1 year to 2 years will fetch an interest rate of 6.3%, 2-3 years 6.40%, and 3 years to 10 years 6.3%.
Axis Bank latest FD interest rates
Axis Bank is offering an interest rate of 3.50% on FDs with maturity between 7 days and 14 days, 4.25% for FDs maturing between 15 days and 29 days, 4.90% for 30 days to 45 days, and 5.4 % for FDs between 46 days and 6 months. For deposits maturing in 6 months to less than 9 months, the bank offers 5.80% interest. For 9 months to less than 11 months 25 days, Axis Bank is offering 6.05%. For 11 months 25 days to less than 1 year 6.40% and 1 year to less than 1 year 5 days 6.55%. The bank is now offering 6.40% interest on deposits maturing in 1 year 5 days to less than 18 months, for 18 months to less than 2 years 6.50 %. For FDs with maturity two years to less than 30 months, the bank gives 6.65% interest. For deposits maturing in 30 months to 10 years, Axis Bank gives 6.50% interest.
Axis Bank offers interest rates ranging from 3.50% to 7.30% to senior citizens on FDs maturing in 7 days to 10 years.