Post Office FD Vs Bank FD: The government increased interest rates on some small savings schemes by up to 30 bps for the July-September 2023 quarter. The interest rates of schemes like 1 and 2 year post office time deposit, 5 year recurring deposit have been increased.
Post office fixed deposit
For the July-September quarter, the government raised the one-year POTD interest rate by 10 basis points (bps) to 6.9% from 6.8%. It has increased the two-year POTD interest rate by 10 basis points (bps) to 7% from 6.9%.
State Bank of India offers an interest rate of 6.8% for regular citizens with a tenure of 1 year to less than 2 years. The bank offers 7% interest for a tenure of 2 years to less than 3 years and 6.50% for a tenure of 3 years to less than 5 years. These rates are effective from 15 February 2023.
SBI FD interest rates
State bank of India offers interest rate of 6.8% on tenure of 1 year to less than 2 years for regular citizens. The bank offers 7% interest on tenure of 2 years to less than 3 years and 6.50% on tenure between 3 years to less than 5 years. These rates are effective from February 15, 2023.
| Tenors | Rates w.e.f. 15/02/2023 |
| 7 days to 45 days | 3 |
| 46 days to 179 days | 4.5 |
| 180 days to 210 days | 5.25 |
| 211 days to less than 1 year | 5.75 |
| 1 Year to less than 2 years | 6.8 |
| 2 years to less than 3 years | 7 |
| 3 years to less than 5 years | 6.5 |
| 5 years and up to 10 years | 6.5 |
| 400 days (Special Scheme i.e. “ Amrit Kalash”) | 7.1 |
HDFC Bank FD interest rate
HDFC Bank offers an interest rate of 6.60% on tenure of 1 year to less than 15 months and 7.10% on 15 months to less than 18 months. The bank offers 7% interest on tenure ranging between 18 months to 5 years.
| Tenor | Interest Rate (per annum) |
| 7 – 14 days | 3.00% |
| 15 – 29 days | 3.00% |
| 30 – 45 days | 3.50% |
| 46 – 60 days | 4.50% |
| 61 – 89 days | 4.50% |
| 90 days < = 6 months | 4.50% |
| 6 months 1 days < = 9 months | 5.75% |
| 9 months 1 day to < 1 year | 6.00% |
| 1 year to < 15 months | 6.60% |
| 15 months to < 18 months | 7.10% |
| 18 months to < 21 months | 7.00% |
| 21 months – 2 years | 7.00% |
| 2 Years 1 day to < 2 Year 11 Months | 7.00% |
| 2 Years 11 Months – 35 Months | 7.20% |
| 2 Years 11 Months 1 day < = 3 Year | 7.00% |
| 3 Years 1 day to < 4 Years 7 Months | 7.00% |
| 4 Year 7 Months – 55 months | 7.25% |
| 4 Year 7 Months 1 day < = 5 Years | 7.00% |
| 5 Years 1 day – 10 Years | 7.00% |
ICICI Bank FD interest rate
ICICI Bank offers an interest rate of 6.70% on tenure of 1 year to less than 15 months and 7.10% on 15 months to less than 2 years.
| General | |
| 7 days to 14 days | 3.00% |
| 15 days to 29 days | 3.00% |
| 30 days to 45 days | 3.50% |
| 46 days to 60 days | 4.25% |
| 61 days to 90 days | 4.50% |
| 91 days to 120 days | 4.75% |
| 121 days to 150 days | 4.75% |
| 151 days to 184 days | 4.75% |
| 185 days to 210 days | 5.75% |
| 211 days to 270 days | 5.75% |
| 271 days to 289 days | 6.00% |
| 290 days to less than 1 year | 6.00% |
| 1 year to 389 days | 6.70% |
| 390 days to < 15 months | 6.70% |
| 15 months to < 18 months | 7.10% |
| 18 months to 2 years | 7.10% |
| 2 years 1 day to 3 years | 7.00% |
| 3 years 1 day to 5 years | 7.00% |
| 5 years 1 day to 10 years | 6.90% |
| 5 Years (80C FD) – Max to `1.50 lac | 7.00% |
PNB FD rates
Punjab National Bank offers interest rate of 6.75% on tenure of 1 year and 6.80% on 1 year to 443 days. PNB offers 77.25% tenure of 444 days.
Canara Bank FD interest rate
Canara Bank offers interest rate of 7% on tenure of 1 year and 7.25% on 444 days tenure. Canara Bank offers 6.90% tenure of between 1 Year to less than 2 Years
| Term Deposits (All Maturities) | General Public |
| Rate of Interest (% p.a.) | |
| 7 Days to 45 Days | 4 |
| 46 Days to 90 Days | 5.25 |
| 91 Days to 179 Days | 5.5 |
| 180 Days to 269 Days | 6.25 |
| 270 Days to less than 1 Year | 6.5 |
| 1 Year Only | 7 |
| 444 Days | 7.25 |
| Above 1 Year to less than 2 Years | 6.9 |
| 2 Years & above to less than 3 Years | 6.85 |
| 3 Years & above to less than 5 Years | 6.8 |
| 5 Years & above to 10 Years | 6.7 |
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