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

Interest rates on fixed deposits offered by various banks vary widely depending on their tenure. So, before a customer invests in FD, he/she needs to compare them thoroughly in order to get the best rates. For example, on a 1-year tenure of fixed deposit for less than Rs 1 crore, State Bank of India (SBI), India's biggest lender, offers an interest rate of 6.25 per cent. The two biggest private banks - ICICI Bank and HDFC Bank offer 6.5 per cent and 6.75 per cent respectively on the same tenure and deposit amount. Axis Bank, on the other hand, offers 6.5 per cent.

Here we bring to you in detail the various FD rates offered by SBI, HDFC Bank, ICICI Bank and Axis Bank:

 

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.