SBI vs HDFC Bank vs ICICI Bank vs Axis Bank: Which bank offers the highest interest rates (FD). | Rare Techy

Let’s take a comparative look at the FD rates offered by State Bank of India (SBI, HDFC Bank, ICICI Bank and Axis Bank).

Axis Bank FD rates

Axis Bank offers 3.50% interest on FDs maturing in 7 days to 45 days and 4% on those maturing in 46 days to 60 days. Deposits that reach within 61 days to 6 months will receive an interest rate of 4.50% and those within 6 months to 9 months will receive an interest rate of 5.25%.

Axis Bank offers an interest rate of 5.50% for FDs maturing in 9 months to 1 year and 6.25% for those maturing in 1 year to 15 months. On FDs maturing in 15 months to 18 months, the bank pays 6.40% and on those maturing in 18 months to 3 years, 6.50%. Deposits that mature within 3 years and 10 years will also receive 6.50%.

These rates are effective from November 15.

HDFC Bank FD rates

HDFC Bank offers 3 to 6.5% to general public and 3.5% to 7% to senior citizens on deposits maturing in 7 days to 10 years. These rates are valid from November 8. HDFC Bank has mentioned on its website that “An Additional Premium of 0.25% (over the existing premium of 0.50%) will be given to senior citizens who wish to register for 5 (five) Fixed Deposits less than 5 crores. ) Year One Day to 10 Years, during special deposit offer starting from 18th May’20 to 31st March’2023.

SBI FD rates

SBI offers an interest rate of 3% to 6.255% for general public and 3.50% to 6.90% for senior citizens. They are available for various FDs maturing between 7 days and 10 years. These rates are effective from October 22

According to the SBI website, the interest rate payable to SBI Employees and SBI pensioners will be 1.00% of the applicable rate. The rate applicable to all Senior Citizens and Pensioners of SBI aged 60 years and above will be 0.50% of the rate applicable to all senior citizens resident in India, i.e. senior citizens of India SBI residents will get both benefits of Employees (1%) and Senior Indian Citizens (0.50%).

ICICI Bank FD rates

On 16 November 2022, ICICI Bank increased interest rates on fixed deposits ₹2 Cr. After making necessary adjustments, the bank increased interest rates on a range of tenors by up to 30 bps. As a result, the bank now offers interest rates on FDs with maturities ranging from 7 days to 10 years ranging from 3% to 6.60% for general and 3.5% to 7% for senior citizens.