Fixed deposit (FD) is one of the most preferred investment option. It is safe as compared to equities, and interest earned from it is known at the time of investment. Top lenders including, State Bank of India (SBI), HDFC Bank, ICICI Bank and others offer FD ranging from 7 days to 10 years. The banks offer higher interest rate to senior citizens on these deposits as compared to general public.
Before investing your hard earned money, always compare the rate of interest offered by various banks.
SBI latest FD interest rates (below ₹2 crore)
Country’s largest lender, SBI, gives interest ranging from 4.5% to 6.25% to general customers. For FDs maturing in 7 days to 45 days and 46 days to 179 days, SBI gives 4.50% and 5.50%, respectively. For FDs maturing in 180 days to 210 days and 211 days to less than 1 year, SBI will give an interest rate of 5.80%. For deposits maturing in 1 year to 10 years, SBI will give 6.25% interest. SBI gives interest ranging from 5% to 6.75% to senior citizens depending upon the tenure they choose.
ICICI Bank latest FD interest rates (below ₹2 crore)
ICICI Bank provides a number of FD options to park your savings.For FDs with a maturity of 7-14days, ICICI Bank is offering 4.00%, 15-29 days 4.25%, 30-45 days 4.75%, 46-184 days 5.25% and 290 days to less than 1 year 6.00%. On FDs maturing in 1 year to 389 days, the bank is offering 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 interest rates ranging from 4.5% to 6.90% to senior citizens.
HDFC Bank latest FD interest rates (below ₹2 crore)
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%
Ujjivan Small Finance Bank latest FD interest rates (below ₹2 crore)
Ujjivan Small Finance Bank offers more than 8% interest on FDs in select buckets. For 7-29 days, 30-89 days and 90-179 days, Ujjivan Small Finance Bank gives interest 5.50%, 6.25% and 6.75% respectively. For deposits maturing in 180 days to 364 days, the bank gives 7 % interest. On deposits maturing in 1 year to 2 years, Small Finance Bank gives 8.1% interest. For deposits maturing in 2 years and 1 day to 734 days, the bank gives 7.50%. Small Finance Bank gives 8.15% on deposits maturing in 735 days. For 736 days to 798 days, the bank offers an interest rate of 7.50%. Small Finance Bank gives the highest interest on deposits maturing in 799 days. These deposits fetch an interest rate of 8.30% in Small Finance Bank. For 800 days to 3 years, 3 years and 1 day to 5 years and 5 years and 1 day to 10 years, Small Finance Bank gives 7.50%, 7.00% and 6.50% interest rates respectively. The bank gives additional 50 basis points interest rate to senior citizens on FDs maturing in 7 days to 10 years.
