Fixed deposit rates: Here are FD interest rates offered by SBI, HDFC Bank, ICICI, Kotak Mahindra Bank

Fixed deposit rates: State Bank of India (SBI), ICICI Bank, HDFC Bank and Kotak Mahindra Bank offer FD tenures ranging from 7 days to 10 years.

Moneycontrol News

May 31, 2021 / 11:43 AM IST

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Fixed deposits are one of the most preferable and popular deposit schemes, primarly because of the safe and secure nature of the investment. The principal amount is invested at a fixed interest rate and interest gain on the deposits accrues and grows over time when one invests in an FD.

FD rates of banks are determined by changes in the Reserve Bank of India (RBI) monetary policy such as repo rate, base rate, etc. FD interest rates of different banks vary by deposit amount, deposit tenure, and type of depositor. FD tenures ranging from 7 days to 10 years are offered by State Bank of India (SBI), ICICI Bank, HDFC Bank, and Kotak Mahindra Bank.

ICICI Bank latest FD rates

ICICI Bank gives interest rates ranging from 2.5 percent to 5.50 percent on deposits maturing in 7 days to 10 years. These rates are applicable from October, 21. Senior citizens will continue to get a 50 basis points (bps) higher interest rate than others.

Maturity Period	Interest Rates
7 days to 29 days	2.50%
30 days to 90 days	3%
91 days to 184 days	3.5%
185 days to less than 1 year	4.40%
1 year to 18 months	4.9%
18 months to 2 years	5%
2 years 1 day to 3 years	5.15%
3 years 1 day to 5 years	5.35%
5 years 1 day to 10 years	5.50%

SBI latest FD rates

SBI FDs between 7 days to 10 years will give 2.9 percent to 5.4 percent to general customers. Senior citizens will get 50 basis points (bps) extra on these deposits. These rates are effective from January 8, 2021.

Maturity Period	Interest Rates
7 days to 45 days	2.9%
46 days to 179 days	3.9%
180 days to less than 1 year	4.4%
1 year to less than 2 years	5%
2 years to less than 3 years	5.1%
3 years to less than 5 years	5.3%
5 years and up to 10 years	5.4%

HDFC Bank latest FD rates

HDFC Bank is offering a 2.50 percent interest rate on deposits between 7 days and 29 days, and 3 percent on deposits maturing in 30-90 days. On 91 days to 6 months, 3.5 percent and on 6 months 1 day to less than one year, 4.4 percent. The bank gives 4.9 percent on FDs maturing in one year. These rates are applicable from May 21, 2021.

Term deposits maturing in one year and two years will fetch an interest rate of 4.9 percent. FDs maturing in 2 years to 3 years will give 5.15 percent, 3 years to 5 years will give 5.30 percent. Deposits with a maturity period of 5 years to 10 years will give 5.50 percent interest. HDFC Bank offers interest ranging from 2.50 percent to 5.50 percent on deposits maturing between 7 days and 10 years.

Maturity Period	Interest Rates
7 days to 29 days	2.50%
30 days to 90 days	3%
91 days to 6 months	3.5%
6 months 1 day to 1 year	4.4%
1 year to 2 years	4.9%
2 years 1 day to 3 years	5.15%
3 year 1 day to 5 years	5.30%
5 years 1 day to 10 years	5.50%

Kotak Mahindra Bank latest FD rates

Kotak Mahindra Bank gives interest rate ranging from 2.5 percent to 5.30 percent on term deposits maturing in 7 days to 10 years. These rates are applicable from April 26, 2021.

Maturity Period	Interest Rates
7 days to 30 days	2.50%
31 days to 90 days	2.75%
91 days to 120 days	3%
121 days to 179 days	3.25%
180 days to 364 days	4.40%
365 days to 389 days	4.50%
390 days to Less than 23 months	4.80%
23 months to 3 years	5%
3 years and above but less than 4 years	5.10%
4 years and above but less than 5 years	5.25%
5 years to 10 years	5.30%