Fixed deposits (FD) have been a much more popular investment option in India. Because it gives guaranteed returns. State Bank of India (SBI), PNB, Axis Bank, HDFC Bank offer FDs for a period ranging from 7 days to 10 years. Before investing your money in any FD deposit scheme, you should compare the FD interest rates offered by different banks.
FD rates of banks are determined by changes in monetary policy of the Reserve Bank of India (RBI) such as repo rate, base rate, internal liquidity position of banks, economic condition and level of credit demand.
Comparison of interest rates of SBI, HDFC Bank and Axis Bank SBI
7 days to 45 days – 2.9%
46 days to 179 days – 3.9%
180 days to 210 days – 4.4%
211 days to less than 1 year – 4.4%
1 year and less than 2 years – 5%
2 years and below 3 years – 5.1%
3 years and below 5 years – 5.3%
5 years and up to 10 years – 5.4%
2 years and below 3 years – 5.1%
3 years and below 5 years – 5.3%
5 years and up to 10 years – 5.4%
HDFC Bank: HDFC Bank offers a maximum interest rate of up to 5.5 per cent on FD deposits up to Rs 2 crore for a period of up to 10 years. The bank offers a minimum interest rate of up to 2.5 percent on an FD deposit period of 7 days to 14 days.
7 – 14 days – 3.00%
15 – 29 days – 3.00%
30 – 45 days – 3.50%
46 – 60 days – 3.50%
61 – 90 days – 3.50%
6 months 1 day – 9 months – 4.90%
9 months 1 day – 1 year – 4.90%
5.40% for 1 year
1 year 1 day to 2 years 5.40%
2 years 1 day – 3 years – 5.65%
3 years 1 day – 5 years – 5.80%
Axis Bank latest FD interest rates
Axis Bank offers FDs in various tenors ranging from 7 days to 10 years. The bank has revised the interest rate on FD on January 4, 2021. For general customers, the bank offers interest ranging from 2.5% to 5.50% on FDs.
7 days to 14 days 2.50%
15 days to 29 days 2.50%
30 days to 45 days 3%
46 days to 60 days 3%
61 days to 3 months 3%
3 months to 4 months 3.5%
4 months < 5 months 3.5%
5 months <6 months 3.5%
6 months <7 months 4.40%
7 months < 8 months 4.40%
8 months < 9 months 4.40%
9 months < 10 months 4.40%
10 months < 11 months 4.40%
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