Changes in Reserve Bank of India (RBI) monetary policy such as repo rate, base rate, internal liquidity position of banks, economic conditions and the level of credit demand are the things on which fixed deposits of banks are depended on.
The Monetary Policy Committee (MPC), on December 4, decided to keep repo rates unchanged and maintained the policy stance at ‘accommodative’ amid high inflation and some signs of economic recovery.
This is positive news for FD investors as banks will not further decrease interest rates on fixed deposits.State Bank of India (SBI), ICICI Bank, HDFC Bank and YES Bank are the banks that provides FD rates ranging from 7 days to 10 years. FD interest rates of different banks vary by deposit amount, deposit tenure and type of depositor.Check out latest FD rates of SBI:
India's largest lender SBI offers interest rates of 2.9 percent to 5.4 percent to its general depositors and 3.4 percent to 6.2 percent to its senior citizens' customers on retail FDs.
SBI changes interest rates from time to time on the basis to align them with benchmark rates. These interest rates are effective from September 10.
SBI offers eight maturity options for fixed deposits up to Rs 2 crore. The maturity period starts at seven days and extends to as long as 10 years.
| Maturity Period | General | Senior Citizen |
| 7 days to 45 days | 2.9% | 3.4% |
| 46 days to 179 days | 3.9% | 4,4% |
| 180 days to 210 days | 4.4% | 4.9% |
| 211 days to 365 days | 4.4% | 4.9% |
| 1 year to 2 years | 4.9% | 5.4% |
| 2 years to 3 years | 5.1% | 5.6% |
| 3 years to 5 years | 5.3% | 5.8% |
| 5 years to 10 years | 5.4% | 6.2% |
ICICI Bank provides 2.50 percent to 5.50 percent on fixed deposits maturing in 7 to 14 days for general customers and an additional 0.5 percent to senior citizens. These rates were effective from October 21.
| Maturity Period | General | Senior Citizen |
| 7 days to 29 days | 2.5% | 2.9% |
| 30 days to 90 days | 3% | 3.5% |
| 91 days to 184 days | 3.5% | 4% |
| 185 days to 365 days | 4.4% | 4.9% |
| 1 year to 1.5 years | 4.9% | 5.4% |
| 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% |
Check out latest FD rates of HDFC Bank:
India's largest private sector lender HDFC Bank provides 2.5 percent for 7 to 14 days to general customers and an additional 0.5 percent to senior citizens on fixed deposits. Maturity period starts from 7 days up to 10 years. Bank revised its interest rates on fixed deposits with effect from November 13. There are 12 maturity options offered with varied interest rates by HDFC Bank.
| Maturity Period | General | Senior Citizens |
| 7-14 days | 2.5% | 3% |
| 15-29 days | 2.5% | 3% |
| 30-45 days | 3% | 3.5% |
| 46-60 days | 3% | 3.5% |
| 61-90 days | 3% | 3.5% |
| 91 days - 6 months | 3.5% | 4% |
| 6 months - 9 months | 4.40% | 4.90% |
| 1 year 1 day - 2 years | 4.90% | 5.40% |
| 2 years 1 day - 3 years | 5.15% | 5.65% |
| 3 years 1 day - 5 years | 5.30% | 5.80% |
| 5 years 1 day - 10 years | 5.50% | 6.25% |
Check out latest FD rates of YES Bank:
YES Bank provides interest rates in the range of 3.5 percent to 7 percent to the general public and 0.50 percent extra for senior citizens for deposits of up to Rs 2 crore. These rates are applicable from November 5.
| Maturity Period | General | Senior Citizen |
| 7 days to 14days | 3.5% | 4% |
| 15 days to 45 days | 4% | 4.5% |
| 46 days to 90 days | 4.5% | 5% |
| 3 months to 6 months | 5% | 5.5% |
| 6 months to 9 months | 5.5% | 6% |
| 9 months to 1 year | 5.75% | 6.25% |
| 1 year 1 day to 2 years | 6.75% | 7.25% |
| 2 years 1 day to 3 years | 7% | 7.50% |
| 3 years 1 day to 10 years | 6.5% | 7% |
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