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Fixed deposit interest rates: SBI revised its fixed deposit (FD) interest rates last on September 10Top banks in the country currently provide a return of up to 7.5 per cent on fixed deposits up to Rs 2 crore.
State Bank of India (SBI), Punjab National Bank (PNB), ICICI Bank and HDFC Bank offer interest rates to the tune of 3.5-7 per cent per annum to the general public and 4-7.5 per cent to senior citizens on such fixed deposits or FDs across a range of maturity terms starting from seven days.
The interest rates are revised from time to time.
The country's largest bank, SBI, for example, revised its interest rates applicable to fixed deposits last on September 10.
( Bank of India revises FD interest rate)SBI fixed deposit interest ratesMaturity periodInterest rate with effect from September 10For publicFor senior citizenSeven days to 45 days4.50%5%46 days to 179 days5.50%6%180 days to 210 days5.80%6.30%211 days to less than one year5.80%6.30%One year to less than two years6.50%7%Two years to less than three years6.25%6.75%Three years to less than five years6.25%6.75%Five years and up to 10 years6.25%6.75%(Source: sbi.co.in)PNB fixed deposit interest ratesMaturity periodInterest rate with effect from October 1For publicFor senior citizenSeven days to 14 days4.50%5%15 days to 29 days4.50%5%30 days to 45 days4.50%5%46 days to 90 days5.50%6%91 days to 179 days5.50%6%180 days to 270 days6%6.50%271 days to less than one year6%6.50%333 days6.10%6.60%One year6.50%7%444 days6.50%7%555 days6.50%7%Above one year and up to two years6.40%6.90%Above two years and up to three years6.25%6.75%Above three years and up to five years6.25%6.75%Above five years and up to 10 years6.50%7%(Source: pnbindia.in)HDFC Bank fixed deposit interest ratesMaturity periodInterest rate with effect from September 13For publicFor senior citizenSeven days to 14 days3.50%4.00%15 days to 29 days4.25%4.75%30 days to 45 days5.15%5.65%46 days to 60 days5.65%6.15%61 days to 90 days5.65%6.15%91 days to six months5.65%6.15%Six months one day to nine months6.25%6.75%Nine months one day to less than one year6.35%6.85%One year6.60%7.10%One year one day to two years6.60%7.10%Two years one day to three years7.00%7.50%Three years one day to five years6.90%7.40%Five years one day to 10 years6.90%7.40%(Source: hdfcbank.com)ICICI Bank fixed deposit interest ratesMaturity periodInterest rate with effect from September 20For publicFor senior citizen7 days to 14 days4%4.50%15 days to 29 days4.25%4.75%30 days to 45 days5%5.50%46 days to 60 days5.50%6%61 days to 90 days5.50%6%91 days to 120 days5.50%6%121 days to 184 days5.50%6%185 days to 289 days6%6.50%290 days to less than 1 year6.25%6.75%One year to 389 days6.60%7.10%390 days to less than 18 months6.60%7.10%18 months to two years7%7.50%Two years and one day up to three years6.90%7.40%Three years one day up to five years6.90%7.40%Five years one day up to 10 years6.90%7.40%Five years tax-saver FD (maximum Rs 1.50 lakh)6.90%7.40%(Source: icicibank.com)Meanwhile, the Reserve Bank of India (RBI) has so far this year reduced the repo rate - the key interest rate at which it lends short-term funds to commercial banks such as SBI, PNB, ICICI Bank and HDFC Bank – by 135 basis points (1.35 percentage point). Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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