Bank fixed deposit rates: SBI vs HDFC Bank vs ICICI vs Kotak Mahindra vs BoB
PremiumLet's take a look at the latest FD interest rates offered by Kotak Mahindra Bank, Bank of Baroda (BoB), SBI HDFC Bank and ICICI Bank
The rate of interest on a Fixed Deposit is determined by the principal amount invested and the term of the investment. FD interest rates of different banks vary by amount, tenure and type of depositor. So it's always important to compare the FD rates offered by various banks before investing.
Let's take a look at the latest FD interest rates offered by Kotak Mahindra Bank, Bank of Baroda (BoB), SBI HDFC Bank and ICICI Bank
Kotak Mahindra latest FD rates
Kotak Mahindra Bank has hiked FD rates of various tenures for amounts less than ₹2 crore. The new rates are effective from April 12, 2022, according to the Kotak Mahindra Bank website. After the latest hike, the bank is giving interest rates ranging from 2.50% to 5.60% on deposits maturing in 7 days to 10 years.
HDFC Bank latest FD rates
Private lender HDFC Bank has increased the interest rates on fixed deposits of less than ₹2 crore on some tenures, according to the lender's website. The new fixed deposit (FD) rates are with effect from 6 April 2022. HDFC Bank offers 2.50 per cent to 5.60 per cent interest rates on deposits maturing in 7 days to ten years for the general public.
Bank of Baroda latest FD rates
Bank of Baroda (BoB) has raised interest rates on fixed deposits (FDs) with effect from March 22 for deposits of less than ₹2 crore. After this revision, the Bank of Baroda's latest FD interest rates ranges from 2.80 per cent to 5.55 per cent for maturities between 7 days and 10 years.
SBI latest FD interest rates
SBI FDs between 7 days to 10 years will give 2.9% to 5.5% to general customers. Senior citizens will get 50 basis points (bps) extra on these deposits -3.4 %to 6.30%. These rates are effective from 15 February 2022.
ICICI Bank latest FD interest rates
ICICI Bank is giving interest rates ranging from 2.50% to 5.60% on deposits maturing in 7 days to 10 years. These rates are with effect from 20 January 2022