5 Best Retail FDs With Good Returns Up To 5.5%
In January 2021, the State Bank of India (SBI), Punjab National Bank (PNB) and Axis Bank updated their interest rates on fixed deposits (FDs). One of the most common and favoured investment instruments is the fixed deposit (FD). At the point of investing, the return received on a bank FD is defined. FDs are known as term deposits as well. But apart from the latest interest rates on FDs of SBI, PNB and Axis, let's reveal here the interest rates on FDs of ICICI and PNB too.
SBI FD Rates
SBI FDs from 7 days and 45 days can now offer 2.9 percent after the new adjustment. Term deposits will yield 3.9 percent between 46 days and 179 days. FDs will fetch 4.4 percent from 180 days to less than one year. There will now be 10 bps higher for deposits with maturity from 1 year and up to less than 2 years. Instead of 4.9%, these deposits will get an interest rate of 5%. 5.1 percent will be offered by FDs maturing in 2 years to less than 3 years. FDs of 3 years or less than 5 years will deliver 5.3 percent and 5.4 percent will continue to deliver on term deposits maturing in 5 years and up to 10 years. SBI provides an additional 50 bps interest rate across all tenures to senior citizens. Senior citizens will now get 3.4 percent to 6.2 percent on FDs maturing in 7 days to 10 years after the most recent update.
| Tenure | ROI |
|---|---|
| 7 days to 45 days | 2.90% |
| 46 days to 179 days | 3.90% |
| 180 days to 210 days | 4.40% |
| 211 days to less than 1 year | 4.40% |
| 1 year to less than 2 years | 5.00% |
| 2 years to less than 3 years | 5.10% |
| 3 years to less than 5 years | 5.30% |
| 5 years and up to 10 years | 5.40% |
Axis Bank FD Rates
Axis Bank provides FDs spanning from 7 days to 10 years across different maturity periods. On 4 January 2021, the bank updated the rate of interest on FDs. The bank offers interest on FDs ranging from 2.5 percent to 5.50 percent for the general public. Axis Bank provides a higher interest rate on select maturities to senior citizens. The bank gives interest to senior citizens ranging from 2.50 percent to 6 percent respectively.
| Tenure | ROI |
|---|---|
| 7 days to 14 days | 2.50% |
| 15 days to 29 days | 2.50% |
| 30 days to 45 days | 3% |
| 46 days to 60 days | 3% |
| 61 days < 3 months | 3% |
| 3 months < 4 months | 3.5 |
| 4 months < 5 months | 3.75 |
| 5 months < 6 months | 3.75 |
| 6 months < 7 months | 4.4 |
| 7 months < 8 months | 4.4 |
| 8 months < 9 months | 4.4 |
| 9 months < 10 months | 4.4 |
| 10 months < 11 months | 4.4 |
| 11 months < 11 months 25 days | 4.4 |
| 11 months 25 days < 1 year | 5.15 |
| 1 year < 1 year 5 days | 5.15 |
| 1 year 5 days < 1 year 11 days | 5.1 |
| 1 year 11 days < 1 year 25 days | 5.1 |
| 1 year 25 days < 13 months | 5.1 |
| 13 months < 14 months | 5.1 |
| 14 months < 15 months | 5.1 |
| 15 months < 16 months | 5.1 |
| 16 months < 17 months | 5.1 |
| 17 months < 18 months | 5.1 |
| 18 Months < 2 years | 5.25 |
| 2 years < 30 months | 5.4 |
| 30 months < 3 years | 5.4 |
| 3 years < 5 years | 5.4 |
| 5 years to 10 years | 5.5 |
PNB FD Rates
On fixed deposits maturing in the span of 7 days to 10 years, PNB proposes an interest rate ranging between 3 percent and 5.30 percent. On 7-45 day fixed deposits, PNB proposes an interest rate of 3 percent and on less than 1 year FDs, it is 4.5 percent respectively. PNB offers 5.20 percent interest on term deposits maturing in one year up to 3 years. On deposits maturing over 5 years to 10 years, PNB promises 5.30 percent interest. These rates are valid from 1 January 2021 onwards. Senior citizens will get an additional interest rate of 50 bps over the existing rates on all domestic deposit maturity periods for an amount of less than Rs 2 Cr.
| Tenure | ROI |
|---|---|
| 7 to 14 days | 3% |
| 15 to 29 days | 3% |
| 30 to 45 days | 3% |
| 46 to 90 days | 3.25% |
| 91 to 179 days | 4% |
| 180 days to 270 days | 4.40% |
| 271 days < than 1 year | 4.50% |
| 1 year | 5.20% |
| Above 1 year & up to 2 years | 5.20% |
| Above 2 year & up to 3 years | 5.20% |
| Above 3 year & up to 5 years | 5.30% |
| Above 5 years & up to 10 years | 5.30% |
HDFC Bank FD Rates
HDFC Bank provides an interest rate of 2.50% to the general public on FDs maturing between seven days to 14 days and 15 days to 29 days. On FDs maturing between 30 days to 90 days the bank promises an interest rate of 3.00%. Whereas for a maturity period of six months one day to nine months and nine months one day to less than one year the interest rate is capped at 4.40%. On 1 year FD and one year one day to two years deposits the bank provides an interest rate of 4.90%.
| Tenure | ROI for general public | ROI for senior citizens |
|---|---|---|
| 7 - 14 days | 2.50% | 3.00% |
| 15 - 29 days | 2.50% | 3.00% |
| 30 - 45 days | 3.00% | 3.50% |
| 46 - 60 days | 3.00% | 3.50% |
| 61 - 90 days | 3.00% | 3.50% |
| 91 days - 6 months | 3.50% | 4.00% |
| 6 months 1 days - 9 months | 4.40% | 4.90% |
| 9 months 1 day < 1 Year | 4.40% | 4.90% |
| 1 Year | 4.90% | 5.40% |
| 1 year 1 day - 2 years | 4.90% | 5.40% |
| 2 years 1 day - 3 years | 5.15% | 5.65% |
| 3 year 1 day- 5 years | 5.30% | 5.80% |
| 5 years 1 day - 10 years | 5.50% | 6.25% |
ICICI Bank FD Rates
ICICI Bank promises an interest rate of 2.50% on FDs maturing between 15 days to 29 days. The interest rate is capped at 3 per cent for a maturity period of 30 days to 45 days, 46 days to 60 days and 61 days to 90 days. For a tenure of 91 days to 120 days the interest rate is 3.50% on deposits. For FDs spanning between 185 days to less than 1 year the bank provides an interest rate of 4%. Whereas one can get a higher interest rate of 5.5% for a deposit period 5 years 1 day to 10 years.
| Tenure | ROI for general public | ROI for senior citizens |
|---|---|---|
| 7 days to 14 days | 2.50% | 3.00% |
| 15 days to 29 days | 2.50% | 3.00% |
| 30 days to 45 days | 3.00% | 3.50% |
| 46 days to 60 days | 3.00% | 3.50% |
| 61 days to 90 days | 3.00% | 3.50% |
| 91 days to 120 days | 3.50% | 4.00% |
| 121 days to 184 days | 3.50% | 4.00% |
| 185 days to 210 days | 4.40% | 4.90% |
| 211 days to 270 days | 4.40% | 4.90% |
| 271 days to 289 days | 4.40% | 4.90% |
| 290 days to less than 1 year | 4.40% | 4.90% |
| 1 year to 389 days | 4.90% | 5.40% |
| 390 days to < 18 months | 4.90% | 5.40% |
| 18 months to 2 years | 5.00% | 5.50% |
| 2 years 1 day to 3 years | 5.15% | 5.65% |
| 3 years 1 day to 5 years | 5.35% | 5.85% |
| 5 years 1 day to 10 years | 5.50% | 6.30% |
| 5 Years (80C FD) - Up to Rs 1.50 lac | 5.35% | 5.85% |