FD interest rate comparison: SBI vs HDFC Bank vs ICICI Bank vs PNB

Earlier in April, HDFC Bank increased its one-year FD interest rate by 10 basis points to 5.10 percent from 5 percent, and its one-year one day to two years FD has also been increased by 10 basis points to 5.10 percent from 5 percent. The higher rates took effect from April 6, 2022. These are the new rates for FDs with a corpus less than Rs 2 crore.
According to the bank’s website, deposits maturing in 7 to 29 days would earn a 2.50 percent interest rate. The interest rate on term deposits with a maturity of 30 to 90 days is 3%. On deposits expiring in 91 days to 6 months, HDFC Bank is paying a 3.50 percent interest rate. The bank will now offer a 4.40 percent interest rate on fixed deposits maturing in 6 months 1 day – 9 months, as well as 9 months 1 day to less than 1 year.

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With effect from March 10, 2022, the State Bank of India (SBI) has increased interest rates on bulk fixed deposits (FDs) exceeding Rs 2 core by 20-40 basis points.
The interest rate on FDs worth more than Rs 2 crore with durations ranging from 211 days to less than a year has been hiked by 20 basis points, according to the SBI website. These FDs will now earn 3.30 percent, as of March 10, 2022. Seniors will earn 3.80 percent, up from 3.60 percent previously. Rates for one-year to ten-year terms have been raised by 40 basis points to 3.60 percent from 3.10 percent. From 3.60 percent, senior citizens will earn 4.10 percent.

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The new rates will take effect on February 25, 2022, according to a bank press statement.
BOB is offering general public a 5% interest rate on one-year fixed deposits, up from 4.90 percent previously. The bank offers the interest rate on term deposits maturing in one to two years is 5.10 percent.

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ICICI Bank FD interest rates are effective from January 20, 2022.
ICICI Bank is now offering a 2.50 percent interest rate on deposits with a duration of 7 to 29 days, and a 3% interest rate on FDs with a maturity of 30 to 90 days, according to the bank’s website. 3.5 percent for FDs with maturities ranging from 91 to 184 days, and 4.40 percent for FDs with maturities ranging from 185 to less than one year. The bank is offering 5% on FDs with terms ranging from one year to 389 days.

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Fixed deposits with maturities ranging from 7 days to 10 years and interest rates ranging from 2.90 percent to 5.25 percent are offered.
PNB is paying 2.9 percent on 7-45 day fixed deposits and 4.4 percent on FDs less than one year. On deposits with a term of more than two years but less than three years, the bank pays 5.10 percent. Deposits with a term of five to ten years will earn 5.25 percent interest for PNB customers. These FD rates are effective from August 1, 2021.

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