HDFC Bank Vs SBI Vs ICICI Bank: Check Detailed FD Interest Rate Comparison

HDFC Bank Vs ICICI Bank Vs SBI FD Interest Rates: Finance Minister Nirmala Sitharaman recently asked banks to focus on their core banking activity — deposit and lending. She also asked the lenders to bring innovative products to boost deposits. RBI Governor Shaktikanta Das also said the banks are free to decide their interest rates to boost deposits.

In view of these statements, it seems that the banks are likely to bring their features or raise their interest rates to attract deposits, as people nowadays are investing their money in the stock market to gain more returns.

Here’s the bank FD interest rate comparison among HDFC Bank, State Bank of India (SBI), and ICICI Bank.

State-owned SBI, which is the largest bank in India, is offering up to 7.5 per cent interest rates on fixed deposits below Rs 3 crore, depending upon the age of the depositor and tenure. However, India’s largest private sector lender HDFC Bank up to 7.9 per cent FD rates, while ICICI Bank is giving up to 7.8 per cent.

HDFC Bank’s latest interest rates on fixed deposits less than Rs 3 crore (per annum):

• 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 – 6.60 per cent; For Senior Citizens – 7.10 per cent
• 15 months to less than 18 months: For General Public – 7.10 per cent; For Senior Citizens – 7.50 per cent
• 18 months to less than 21 months: For General Public – 7.25 per cent; For Senior Citizens – 7.75 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 less than 2 years 11 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
• 2 years 11 months to 35 months: For General Public – 7.35 per cent; For Senior Citizens – 7.85 per cent
• 2 years 11 months 1 day to less than or equal to 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
• 3 years 1 day to less than 4 years 7 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
• 4 years 7 months to 55 months: For General Public – 7.40 per cent; For Senior Citizens – 7.90 per cent
• 4 years 7 months 1 day to less than or equal 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 – 7.50 per cent.

SBI’s FD Interest Rate (On Deposits Below Rs 3 Crore):

• 7 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
• 46 days to 179 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
• 180 days to 210 days: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent
• 211 days to less than 1 year: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
• 1 year to less than 2 years: For General Public – 6.80 per cent; For Senior Citizens – 7.30 per cent
• 2 years to less than 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
• 3 years to less than 5 years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
• 5 years to up to 10 years: For General Public – 6.50 per cent; For Senior Citizens – 7.50 per cent.

ICICI Bank’s latest interest rates on fixed deposits below Rs 3 crore:

• 7 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 – 4.25 per cent; For Senior Citizens – 4.75 per cent
• 61 days to 90 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
• 91 days to 184 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent
• 185 days to 270 days: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
• 271 days 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 – 6.70 per cent; For Senior Citizens – 7.20 per cent
• 15 months to less than 18 months: For General Public – 7.25 per cent; For Senior Citizens – 7.80 per cent
• 18 months to 2 years: For General Public – 7.25 per cent; For Senior Citizens – 7.75 per cent
• 2 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 – 7.40 per cent
• 5 years (tax saver FD): For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent.

The RBI recently raised the bulk deposit definition to Rs 3 crore, from Rs 2 crore earlier.