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    SBI vs HDFC Bank vs ICICI Bank vs Yes Bank vs Kotak Mahindra Bank: Highest FD interest rates

    Synopsis

    Here is a comparison of banks that have hiked and banks such as SBI, ICICI Bank that have not yet increased their fixed deposit rates.

    Bank-interest-rateGetty Images
    In the month of May, many banks including HDFC Bank, Yes Bank, Kotak Mahindra Bank, PNB have increased their fixed deposit interest rates. Here is a comparison of banks that have hiked and banks such as SBI, ICICI Bank that have not yet increased their fixed deposit rates.


    SBI
    State Bank of India has not changed fixed deposit rates in the month of May, it had last revised on February 15, 2023. SBI offers an interest rate between 3% - 7.10% for general citizens. According to the SBI website, “The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for a rate of interest of 7.60%. The Scheme will be valid till 30-June-2023.”
    General Public
    TenorsRates w.e.f. 15/02/2023Rates w.e.f. 15/02/2023
    7 days to 45 days33.5
    46 days to 179 days4.55
    180 days to 210 days5.255.75
    211 days to less than 1 year5.756.25
    1 Year to less than 2 years6.87.3
    2 years to less than 3 years77.5
    3 years to less than 5 years6.57
    5 years and up to 10 years6.57.50@
    400 days (Special Scheme i.e. “ Amrit Kalash”)7.17.6

    ICICI Bank
    ICICI Bank offers an interest rate between 3% to 7.10% for regular citizens and 3.50% to 7.50% for senior citizens. The highest interest rate is offered on tenure of 15 months to less than 2 years. These rates were applicable from February 24, 2023.
    TenureGeneral**Senior Citizen
    7 days to 14 days3.00%3.50%
    15 days to 29 days3.00%3.50%
    30 days to 45 days3.50%4.00%
    46 days to 60 days4.25%4.75%
    61 days to 90 days4.50%5.00%
    91 days to 120 days4.75%5.25%
    121 days to 150 days4.75%5.25%
    151 days to 184 days4.75%5.25%
    185 days to 210 days5.75%6.25%
    211 days to 270 days5.75%6.25%
    271 days to 289 days6.00%6.50%
    290 days to less than 1 year6.00%6.50%
    1 year to 389 days6.70%7.20%
    390 days to < 15 months6.70%7.20%
    15 months to < 18 months7.10%7.60%
    18 months to 2 years7.10%7.60%
    2 years 1 day to 3 years7.00%7.50%
    3 years 1 day to 5 years7.00%7.50%
    5 years 1 day to 10 years6.90%#7.50%
    5 Years (80C FD) – Max to `1.50 lac7.00%7.50%


    HDFC Bank
    HDFC Bank has introduced two new special edition fixed deposits with higher interest rates for a limited duration. HDFC Bank has introduced two new special fixed deposit (FD) programs with interest rates of 7.20% for 35 months and 7.25% for 55 months. Senior people will receive an additional 50 basis points. The bank is providing a 7% interest rate on deposits maturing between 18 months and 10 years.

    TenureInterest Rate (per annum)Senior Citizen Rates (per annum)
    7 - 14 days3.00%3.50%
    15 - 29 days3.00%3.50%
    30 - 45 days3.50%4.00%
    46 - 60 days4.50%5.00%
    61 - 89 days4.50%5.00%
    90 days < = 6 months4.50%5.00%
    6 mnths 1 days <= 9 mnths5.75%6.25%
    9 mnths 1 day to < 1 year6.00%6.50%
    1 year to < 15 months6.60%7.10%
    15 months to < 18 months7.10%7.60%
    18 months to < 21 months7.00%7.50%
    21 months - 2 years7.00%7.50%
    2 Years 1 day to < 2 Year 11 Months7.00%7.50%
    2 Years 11 Months - 35 Months7.20%7.70%
    2 Years 11 Months 1 day <= 3 Year7.00%7.50%
    3 Years 1 day to < 4 Years 7 Months7.00%7.50%
    4 Year 7 Months - 55 months7.25%7.75%
    4 Year 7 Months 1 day <=5 Years7.00%7.50%
    5 Years 1 day to 10 Years7.00%7.75%*


    Yes Bank
    Yes Bank offers an interest rate between 3.25% to 7.75% for regular citizens, and senior citizens will earn interest rate between 3.75%-8.25%. The highest interest rate is offered on tenure of 18 Month to less than 36 Months These rates are effective from May 2, 2023.

    TenureRegularSenior Citizens
    Interest RatesInterest Rates
    7 days to 14 days3.25%3.75%
    15 days to 45 days3.70%4.20%
    46 days to 90 days4.10%4.60%
    91 days to 180 days4.75%5.25%
    181 days to 271 days6.00%6.50%
    272 days to < 1 year6.25%6.75%
    1 Year to < 18 Months7.50%8.00%
    18 Month < 36 Months7.75%8.25%
    36 months to <= 120 months7.00%7.75%


    Kotak Mahindra Bank
    Kotak Mahindra Bank offers interest rate between 2.75% to 7.20% for general citizens for tenure between 7 days to 10 years. The highest interest rate of 7.20% is offered on tenure between 390 Days to less than 2 years.
    Maturity Periods RegularSenior Citizen*
    7 - 14 Days2.75%3.25%
    15 - 30 Days3.00%3.50%
    31 - 45 Days3.25%3.75%
    46 - 90 Days3.50%4.00%
    91 - 120 Days4.00%4.50%
    121 - 179 days4.25%4.75%
    180 Days7.00%7.50%
    181 Days to 269 Days6.00%6.50%
    270 Days6.00%6.50%
    271 Days to 363 Days6.00%6.50%
    364 Days6.50%7.00%
    365 Days to 389 Days7.10%7.60%
    390 Days (12 months 25 days)7.20%7.70%
    391 Days - Less than 23 Months7.20%7.70%
    23 Months7.20%7.70%
    23 months 1 Day- less than 2 years7.20%7.70%
    2 years- less than 3 years7.00%7.50%
    3 years and above but less than 4 years6.50%7.00%
    4 years and above but less than 5 years6.25%6.75%
    5 years and above upto and inclusive of 10 years6.20%6.70%


    PNB
    Punjab National Bank offers interest rate between 3.50% to 7.25% for general citizens for tenure between 7days to 10 years. The bank offers highest interest rate of 7.25% on tenure of 666 days. These rates are effective from May 18, 2023.

    PeriodRevised Rates For Public *Revised Rates For Senior Citizens #Revised Rates For Super Senior Citizens
    13.544.3
    23.544.3
    33.544.3
    44.555.3
    54.555.3
    65.566.3
    75.86.36.6
    86.87.37.6
    96.87.37.6
    106.87.38.05
    116.87.37.6
    127.257.757.85
    136.87.37.6
    1477.57.8
    156.577.3
    166.57.37.3

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