FD interest rates: As the interest rate hike cycle is on with the Reserve Bank of India (RBI) raising the repo twice within a month to control inflation, banks are also increasing their interest offerings on deposits and loans. Several banks have increased their interest rates, including ICICI Bank, HDFC Bank and Punjab National Bank, in the past days.
ICICI Bank has an interest rate range of 2.75-6.50 per cent on fixed deposits, depending upon the tenure and age of the depositors. HDFC Bank is also offering the same interest rates in its term deposits. However, Punjab National Bank is giving returns in the range of 3-6 per cent. Here’s the full comparison of FD interest rates of ICICI Bank, HDFC Bank and Punjab National Bank:
ICICI Bank’s FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days to 14 days: For General Public – 2.75 per cent; For Senior Citizens – 3.25 per cent
15 days to 29 days: For General Public – 2.75 per cent; For Senior Citizens – 3.25 per cent
30 days to 45 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
46 days to 60 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
61 days to 90 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
91 days to 120 days: For General Public – 3.75 per cent; For Senior Citizens – 4.25 per cent
121 days to 150 days: For General Public – 3.75 per cent; For Senior Citizens – 4.25 per cent
151 days to 184 days: For General Public – 3.75 per cent; For Senior Citizens – 4.25 per cent
185 days to 210 days: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent
211 days to 270 days: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent
271 days to 289 days: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent
290 days to less than 1 year: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent
1 year to 389 days: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent
390 days to less than 15 months: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent
15 months to less than 18 months: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent
18 months to 2 years: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent
2 years 1 day to 3 years: For General Public – 5.50 per cent; For Senior Citizens – 5.80 per cent
3 years 1 day to 5 years: For General Public – 5.70 per cent; For Senior Citizens – 6.20 per cent.
5 years 1 day to 10 years: For General Public – 5.75 per cent; For Senior Citizens – 6.50 per cent.
HDFC Bank’s FD Interest Rate (On Deposits Below Rs 2 Crore):
15 days to 29 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent
30 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
46 days to 60 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
61 days to 90 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
91 days to 120 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
6 months 1 days to 9 months: For General Public – 4.65 per cent; For Senior Citizens – 5.15 per cent
9 months 1 day to less than a year: For General Public – 4.65 per cent; For Senior Citizens – 5.15 per cent
1 year: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
1 year 1 day to 2 years: For General Public – 5.35 per cent; For Senior Citizens – 5.85 per cent
2 years 1 day to 3 years: For General Public – 5.40 per cent; For Senior Citizens – 5.90 per cent
3 years 1 day to 5 years: For General Public – 5.60 per cent; For Senior Citizens – 6.10 per cent
5 years 1 day to 10 years: For General Public – 5.75 per cent; For Senior Citizens – 6.50 per cent.
PNB’s FD Interest Rate (On Deposits Below Rs 2 Crore):
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 – 3.00 per cent; For Senior Citizens – 3.50 per cent
46 days to 90 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
91 days to 179 days: For General Public – 4.00 per cent; For Senior Citizens – 4.50 per cent
180 days to 270 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
271 days to less than 1 year: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
1 year: For General Public – 5.20 per cent; For Senior Citizens – 5.70 per cent
Above 1 year to 2 years: For General Public – 5.20 per cent; For Senior Citizens – 5.70 per cent
Above 2 Years to 3 Years: For General Public – 5.30 per cent; For Senior Citizens – 5.80 per cent
Above 3 years to 5 years: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
Above 5 years to 10 years: For General Public – 5.60 per cent; For Senior Citizens – 6.10 per cent
1111 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent.
The RBI’s Monetary Policy Committee last week unanimously decided to raise the repo rate by 50 basis points to 4.90 per cent with the focus on withdrawal of accommodation. It has prompted the lenders to hike interest rates on loans. According to the latest official data, retail inflation slightly eased to 7.04 per cent in May.
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