India’s largest public sector bank State Bank of India offers FDs with tenures ranging from 7 days to 10 years. The bank’s interest rates range from 2.9 per cent to 5.59 per cent for general customers, while for senior citizens, interest rates are 50 basis points (bps) higher. The latest rates are effective from February 15, 2022.
HDFC Bank : Latest FD Rates
Private lender HDFC Bank recently increased interest rates on fixed deposits of less than Rs 2 crore for a few tenures. Now, the bank offers returns ranging from 2.50 per cent to 5.60 per cent for the general public on deposits maturing in 7 days to 10 years. The latest rates have come into effect from April 6, 2022.
ICICI Bank : Latest FD Interest Rates
ICICI Bank is offering interest rates ranging from 2.50 per cent to 5.60 per cent on deposits maturing in 7 days to 10 years. These rates are effective from 20 January 2022.
Kotak Mahindra Bank : Latest FD Rates
For FD tenures below Rs 2 crore, Kotak Mahindra Bank has recently hiked interest rates. After the latest hike, the interest rates range from 2.50 per cent to 5.60 per cent on deposits maturing in 7 days to 10 years. These are effective from April 12, 2022.
Bank Of Baroda : Latest FD Rates
Government-owned Bank of Baroda also increased interest rates on fixed deposits with effect from March 22 for deposits of less than Rs 2 crore. Now, the bank’s interest rates range from 2.80 per cent to 5.55 per cent for FDs maturing between 7 days to 10 years.
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The interest rate on fixed deposits below Rs 2 crore has been revised recently by ESAP Small Finance Bank. The change in interest rate was made effective on April 18, 2022. ESAF Small Finance Bank will now offer 5.25 per cent interest rate on resident fixed deposits maturing in 91 to 182 days. Fixed deposits maturing in less than 183 days to one year and one year and one day to less than two years will now attract 5.50 per cent and 6.00 per cent interest, respectively. The bank will now promise interest rates of 6.75 per cent and 5.75 per cent respectively on fixed deposits of 2 years to less than 3 years and 3 years to less than 4 years. Fixed deposits maturing in 4 years to less than 5 years and 5 years to 10 years will now generate 5.75 per cent and 5.25 per cent respectively. Senior citizens will continue to get an additional rate of 0.50% over the regular rate for all tenures.