Even as the RBI has raised interest rates multiple times in the past few months to control inflation, banks are also increasing interest rates on their loan and deposit offerings. Several banks, including HDFC Bank, SBI and ICICI Bank, have also raised their interest rates on fixed deposits.
Here’s the comparison of the current fixed deposit (FD) interest rates offered by three lenders ICICI Bank, SBI and HDFC Bank on deposits below Rs 2 crore:
Latest FD rates below Rs 2 crore at HDFC Bank (effective December 14, 2022):
7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
15 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
46 days to 60 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
61 days to 89 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
90 days to less than equal to 6 months: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
6 months 1 day to less than 9 months: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
9 months 1 day to less than 1 year: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
1 Year to less than 15 months: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
15 months to less than 18 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
18 months 1 day to less than 21 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
21 months to 2 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
2 years 1 day to 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
3 years 1 day to 5 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
5 years 1 day to 10 years: For General Public – 7.00 per cent; For Senior Citizens – 7.75 per cent.
Latest FD rates below Rs 2 crore at ICICI Bank (effective December 16, 2022):
7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
15 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
46 days to 60 days: For General Public – 4.00 per cent; For Senior Citizens – 4.50 per cent
61 days to 90 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
91 days to 120 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent
121 days to 150 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent
151 days to 184 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent
185 days to 210 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
211 days to 270 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
271 days to 289 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
290 days to less than 1 year: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
1 year to 389 days: For General Public – 6.60 per cent; For Senior Citizens – 7.10 per cent
390 days to less than 15 months: For General Public – 6.60 per cent; For Senior Citizens – 7.10 per cent
15 months to less than 18 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
18 months to 2 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
2 years 1 day to 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
3 years 1 day to 5 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
5 years 1 day to 10 years: For General Public – 6.90 per cent; For Senior Citizens – 7.50 per cent.
Latest FD rates below Rs 2 crore at SBI (effective December 13, 2022):
7 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
46 days to 179 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
180 days to 210 days: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent
211 days to less than 1 year: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
1 year to less than 2 years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
2 years to less than 3 years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
3 years to less than 5 years: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent
5 years to up to 10 years: For General Public – 6.25 per cent; For Senior Citizens – 7.25 per cent (including additional premium of 50 bps under SBI Wecare deposit scheme).
According to SBI website, “A special ‘SBI Wecare’ Deposit for Senior Citizens in the Retail TD segment wherein an additional premium of 50 bps over & above the existing 50 bps i.e. 100 bps over card rate for public (as indicated in the above table) will be paid to Senior Citizens on their retail TD for ‘5 Years and above’ tenor only. ‘SBI Wecare’ deposit scheme stands extended up to 31st March 2023.”
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