Want to Open A FD Account? Compare Rates by SBI, ICICI, Kotak, HDFC. Want To Open A Fixed Deposit (FD) Account? Compare Interest Rates Paid By Top Banks in India. The fixed deposits (FDs) usually offer higher interest rates to senior citizens as compared to those for the general public.
Want to Open A FD Account? Know FD Rates
Fixed deposit (FD) accounts offer higher interest rates than savings accounts. Banks keep on revising their fixed deposit interest rates from time-to-time. On a four-year fixed deposit below Rs. 2 crore for general public, SBI currently pays an interest rate of 6.20 per cent. While HDFC Bank offers 6.25 per cent, ICICI Bank pays 6.30 per cent and Kotak Mahindra Bank offers 5.25% interest for the same tenor and amount.
Here are fixed deposit or FD interest rates offered by State Bank of India, HDFC Bank, ICICI Bank and Kotak Mahindra Bank on deposits below Rs. 2 crore
Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. 22 May 2024
Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore ‘have been revised.The revised interest rates are as under :
(All figures in % per annum)
| Private Sector Banks | Interest Rates (% p.a.) | |||
| Highest slab | 1-year tenure | 3-year tenure | 5-year tenure | |
| Axis Bank | 7.2 | 6.7 | 7.1 | 7 |
| Bandhan Bank | 7.85 | 7.85 | 7.25 | 5.85 |
| City Union Bank | 7 | 6.75 | 6.5 | 6.25 |
| CSB Bank | 7.75 | 5 | 5.75 | 5.75 |
| DBS Bank | 7.5 | 7 | 6.5 | 6.5 |
| DCB Bank | 8 | 7.15 | 7.6 | 7.4 |
| Dhanlaxmi Bank | 7.25 | 6.75 | 6.5 | 6.6 |
| Federal Bank | 7.4 | 6.8 | 7 | 6.6 |
| HDFC Bank | 7.25 | 6.6 | 7 | 7 |
| ICICI Bank | 7.2 | 6.7 | 7 | 7 |
| IDBI Bank | 7.2 | 6.8 | 6.5 | 6.5 |
| IDFC First Bank | 8 | 6.5 | 7.25 | 7 |
| IndusInd Bank | 7.75 | 7.75 | 7.25 | 7.25 |
| Jammu & Kashmir Bank | 7.05 | 7.05 | 6.5 | 6.5 |
| Karnataka Bank | 7.4 | 7.1 | 6.5 | 6.5 |
| Karur Vysya Bank | 7.5 | 7 | 7 | 7 |
| Kotak Mahindra Bank | 7.4 | 7.1 | 7 | 6.2 |
| Nainital Bank | 7.05 | 6.7 | 6.25 | 5.75 |
| RBL Bank | 8 | 7.5 | 7.5 | 7.1 |
| SBM Bank India | 8.25 | 7.1 | 7.6 | 7.75 |
| South Indian Bank | 7.4 | 6.7 | 6.7 | 6 |
| Tamilnad Mercantile Bank | 7.5 | 7 | 6.5 | 6.5 |
| Yes Bank | 7.75 | 7.25 | 7.25 | 7.25 |
| Public Sector Banks | Interest Rates (% p.a.) | |||
| Highest slab | 1-year tenure | 3-year tenure | 5-year tenure | |
| Bank of Baroda | 7.25 | 6.85 | 7.25 | 6.5 |
| Bank of India | 7.25 | 6.8 | 6.5 | 6 |
| Bank of Maharashtra | 6.5 | 6.5 | 5.75 | 5.75 |
| Canara Bank | 7.25 | 6.85 | 6.8 | 6.7 |
| Central Bank of India | 7.25 | 6.75 | 6.5 | 6.25 |
| Indian Bank | 7.25 | 6.1 | 6.25 | 6.25 |
| Indian Overseas Bank | 7.3 | 6.9 | 6.5 | 6.5 |
| Punjab & Sind Bank | 7.25 | 6.2 | 6 | 6 |
| Punjab National Bank | 7.25 | 6.75 | 7 | 6.5 |
| State Bank of India | 7.1 | 6.8 | 6.75 | 6.5 |
| UCO Bank | 6.5 | 6.5 | 6.3 | 6.2 |
| Union Bank of India | 7.25 | 6.75 | 6.5 | 6.5 |
| Small Finance Banks | Interest Rates (% p.a.) | |||
| Highest slab | 1-year tenure | 3-year tenure | 5-year tenure | |
| AU Small Finance Bank | 8 | 6.5 | 7.5 | 7.25 |
| Capital Small Finance Bank Limited | 7.6 | 7.5 | 7.15 | 7.1 |
| Equitas Small Finance Bank | 8.5 | 8.2 | 8 | 7.25 |
| ESAF Small Finance Bank | 8.25 | 6 | 6.75 | 6.25 |
| Fincare Small Finance Bank | 8 | 6.5 | 7.5 | 7.25 |
| Jana Small Finance Bank | 8.5 | 8.5 | 7.25 | 7.25 |
| North East Small Finance Bank | 8.5 | 7.75 | 8.00 | 6.25 |
| Shivalik Small Finance Bank Limited | 8.55 | 8.55 | 7.5 | 6.5 |
| Suryoday Small Finance Bank | 8.65 | 6.85 | 8.6 | 8.25 |
| Ujjivan Small Finance Bank | 8.5 | 8.25 | 7.2 | 7.2 |
| Unity Small Finance Bank | 9 | 7.85 | 8.15 | 8.15 |
| Utkarsh Small Finance Bank | 8.5 | 8 | 8.5 | 7.75 |
The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate. The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50% above the rate payable for all tenors to resident Indian senior citizens i.e. SBI resident Indian Senior Citizen Pensioners will get both the benefits of Staff (1%) and resident Indian Senior Citizens (0.50%).
Meanwhile, small finance banks offer much higher interest rates on fixed deposit or FD account than larger peers like State Bank of India (SBI), HDFC Bank and ICICI Bank.
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