Fixed Deposit Revised Rates for Different Banks

Fixed Deposit are considered as a preferred mode of investment for investors who want guaranteed returns and highest level of safety for their money. Top lenders like ICICI Bank, State bank of India (SBI), Yes Bank, HDFC Bank, and Punjab National Bank (PNB) provide customers the facility to open a short term and long term FD account. Now, Fixed Deposit Rates comes with a wide range of tenures – from as low as 7 days to 10 years. Interest offered to senior citizens is 0.5% higher than the regular customers. 

Recently, Reserve Bank of India (RBI) has lowered its lending rate according to which YES Bank, ICICI Bank and AXIS Bank also revised their interest rates on Deposit. You can choose the tenure from 7 days to 10 years based upon which bank offers different interest rate which vary from bank to bank. Range for interest rate lies between 5.75% to 7.50% in a year. 

SBI Fixed Deposit Rates;

SBI is offering an interest rate of 6.4%. On deposits which are one year to less than two years, the rate of interest has been increased from 6.8% to 7%. On deposits which are two years to less than three years, the rate of interest has been decreased marginally from 6.8% to 6.75%. Similarly, on deposits which are three years to less than five years, the rate of interest has been decreased marginally from 6.8% to 6.70%. And, on deposits which are five years and up to 10 years, the rate of interest has been decreased from 6.85% to 6.60%.

ICICI Fixed Deposit Rates:

For FDs with maturity of 46-184 days,ICICI Bank has increased the interest rate from 6.25% to 6.60%. On FDs maturing in 2-3 years, the bank has increased the interest rate from 7.3% to 7.5%. ICICI Bank is offering a 7.25% interest rate on FDs maturing between three years and five years. On FDs maturing between five years and 10 years, ICICI Bank offers an interest rate of 7%. On FDs maturing in 2-3 years, the bank has increased the interest rate from 7.3% to 7.5%. ICICI Bank is offering a 7.25% interest rate on FDs maturing between three years and five years. On FDs maturing between five years and 10 years, ICICI Bank offers an interest rate of 7%.

HDFC Fixed Deposit Rates:

HDFC Bank offers interest rates in the range of 3.5% to 7.40% to the general public for deposits up to 2 crore. The bank will be paying an interest of 7.30% for deposits of under 2 crore for a year. For FDs with maturity 7-90 days, HDFC is offering 6.25%, 91 days to 1 year 7.30%. HDFC Bank is offering 7.4 % interest rate on FD maturing in 2-3 years. HDFC Bank is offering 7.25% interest rate on FDs maturing between three and five years. The bank offers interest rate of 6.5% on FDs with maturity between five years and 10 years.

YES Bank Fixed Deposit Rates:

YES Bank offers interest rates in the range of 5% to 7.25% to the general public for deposits of up to 2 crore. For seven days to less than six months, the bank offers 6.25% interest rate. YES Bank offers a rate of interest of 6.85% for six months to less than nine months maturities. For long-term FDs, maturing in one and up to ten years, the bank offers an interest rate of 7.25%. The revised rates are applicable with effect from 27 June.

PNB Fixed Deposit Rates:

PNB is offering 5.75% interest rate on FDs of up to 2 crore for maturity periods between 7-45 days. For one-year FDs, the bank is offering 7% rate of interest. For maturity term of more than one year and up to three years, PNB offers 6.75% interest rate. On FDs maturing between three years and 10 years, PNB is offering 6.25% interest rate.

2 Responses

  1. Jit Mukherjee says:

    FD rate of interest should be more than 10% per annum for senior citizens. Senior citizens depend on the rate of interest on FD as they don’t have other source of income. Government should think that they are not happy with the present rate of interest.

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