Latest FD interest rates offered by SBI, HDFC Bank, ICICI Bank, and more

Fixed deposit (FD), also referred as ‘time deposit’ or ‘term deposit’, has remained one of the most preferred investment options in India for years. Known for their stability, an FD allows depositors to park their money for a fixed period and earn assured returns through fixed interest payments during the investment period or at maturity.

FDs offer income certainty and capital protection, making them particularly popular among first-time and conservative investors.

Interest rates on FDs are influenced by factors such as the Reserve Bank of India’s (RBI) monetary policy, prevailing economic conditions and inflation trends.

Even a small difference in interest rates can significantly impact overall returns, especially for long-term investments.

Comparing FD rates across banks is crucial before investing. Read the article below to know the interest rates offered by different banks to maximise your income.

The following banks are currently offering these FD rates:

Public Sector Bank (% p.a.)
State Bank of India: SBI offers 6.45% per annum to general citizens and 7.05% per annum to senior citizens.

Bank of Baroda (BoB): As for Bank of Baroda, it offers 6.45% per annum to general citizens and 7% per annum to senior citizens.

Punjab National Bank (PNB): It offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.

Bank of India:

BoI offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.

Canara Bank: General citizens get 6.5% per annum interest, while 7% per annum is offered to senior citizens.

Private Sector Bank (% p.a.)HDFC Bank: The bank offers 6.50% per annum to general citizens and 7% per annum to senior citizens.

ICICI Bank: It offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.

Axis Bank: For general citizens, the interest rate is 6.45% per annum and 7.20% per annum to senior citizens.

Kotak Mahindra Bank: This private sector bank offers 6.8% per annum to general citizens and 7.3% per annum to senior citizens.

Yes Bank: As for Yes Bank, it offers 7% per annum to general citizens and 7.75% per annum to senior citizens.

Bandhan Bank: It offers 7.25% per annum to general citizens and 7.75% per annum to senior citizens, among the highest rates in the private banking segment.

IDFC FIRST Bank: IDFC offers 7.25% per annum to general citizens and 7.5% per annum to senior citizens.

IndusInd Bank: Coming to IndusInd, it offers 7% per annum to general citizens and 7.75% per annum to senior citizens.

RBL Bank offers 7.2 % per annum to general citizens and 7.70% per annum to senior citizens.