Bank FD rates compared: What SBI, HDFC Bank, ICICI, PNB and BoB offer
3 min read . Updated: 22 Sep 2019, 09:00 AM IST- Banks offer FDs ranging from 7 days to 10 years
- Many banks including SBI and ICICI Bank have revised FD interest rates this month
Bank fixed deposits (FD) give you a return of around 4-7%, depending on the tenure and bank you choose. Many banks including SBI, ICICI, HDFC, Punjab National Bank (PNB) and Bank of Baroda (BoB) offer FDs ranging from 7 days to ten years. Recently, top lenders revised their FD rates after the Reserve Bank of India (RBI) lowered repo rate by 35 basis points for the fourth time in a row. FD rates vary across banks so it's always better to compare the interest rates on offer before you decide to invest in these deposits.
Here is a comparison of FD rates offered by SBI, HDFC Bank, ICICI Bank, Punjab National Bank (PNB) and Bank of Baroda (BoB) for various maturity tenures.
ICICI Bank latest FD interest rates
ICICI Bank gives 4% interest rate between 7 days and 14 days. For 15 days to 29 days maturity FDs, ICICI Bank is offering 4.25%, 30 days to 45 days 5.00%, 46 days to 184 days 5.50%, 185 days to 289 days 6.00% and 290 days to less than 1 year 6.25%. For FDs between 1 year to 389 days, ICICI Bank is offering 6.60%, 390 days to less than 18 months 6.60%, 18 months to 2 years 7.00%, 2 years 1 day to ten years, ICICI Bank gives 6.90% interest.
SBI latest FD interest rates
SBI gives an interest rate of 4.50% for FDs maturing in 7 days to 45 days. On FDs maturing in 46 days to 179 days, SBI offers an interest rate of 5.50% interest, respectively. For deposits maturing in 180 days to less than 1 year, SBI gives 5.80% interest. For FDs maturing in 1 year to less than 2 year, the bank gives 6.50% interest. FDs maturing in 2 years to less then 3 years will fetch an interest rate of 6.25%. Deposits maturing in 3 years to 10 years will give 6.25% interest.
HDFC Bank latest FD interest rates
HDFC Bank offers 3.50% interest rate on deposits maturing in between 7 days and 14 days. For 15 days to 29 days maturity FDs, HDFC Bank is offering 4.25%, 30 days to 45 days 5.15%, 46 days to 6 months 5.65%, six months one day to nine months 6.25% and nine months one day to less than 1 year 6.35%. For FDs with maturity period of 1 year and 2 years, the bank gives 6.60% interest. For deposits maturing in 2 years 1 day to 3 years and 3 year 1 day to 5 years, HDFC Bank gives 7% and 6.9% interest, respectively. For 5 years 1 day to 10 years deposits, the bank will offer an interest rate of 7%.
Punjab National Bank (PNB) latest FD interest rates
Punjab National Bank gives 4.50% interest for short-term FDs maturing in 7 to 45 days. For deposits maturing in 46 to 179 days, the bank gives 5.50% interest. For FDs with tenures 180 days to 270 days, 271 days to less than 1 year and 333 days, PNB offers an interest rate of 6%, 6.25% and 6.30%, respectively. For deposits with tenures 1 year to 555 days, PNB gives the highest rate of interest at 6.60%. FDs maturing in 1 year and up to 3 years will fetch an interest rate of 6.50%. For long-term FDs with maturities in between 3 years to ten years, PNB gives 6.50% interest.
Bank of Baroda (BoB) latest FD interest rates
Bank of Baroda gives 4.50% interest on deposits maturing in 7 days to 45 days. For FDs maturing in 46 days to 90 days, 91 days to 180 days, BoB offers an interest rate of 4.75% and 5.50%, respectively. For short-term deposits with maturity period of 181 days and above and less than 1 year, the bank gives 6.00% interest. For 1 year term deposits, Bank of Baroda gives 6.45% interest. FDs with maturities above 1 year to 400 days, above 400 days and upto 2 years and above 2 years and upto 3 years will fetch an interest rate of 6.60%, 6.55% and 6.45%, respectively. Long-term FDs with 3 years and 10 years maturities will fetch an interest rate of 6.25%.
