Latest Fixed Deposit Rates Compared: SBI vs HDFC Bank vs ICICI vs Yes vs PNB vs Canara vs Axis FD interest rates

Latest fixed deposit interest rates: With the Reserve Bank of India (RBI) unlikely to cut interest rates in the near future, many investors have been flocking to fixed deposits to take advantage of the high FD rates.
Recently, Yes Bank updated its FD interest rates, and SBI also made revisions last month. We compare the latest new FD rates offered by major banks like HDFC Bank, SBI, Yes Bank, ICICI Bank, PNB, and Canara Bank as per a list prepared by ET.

Latest SBI FD Interest Rates

SBI has increased its FD interest rates by 75 basis points (bps) on deposits maturing between 46 days and 179 days, raising the rates from 4.75% to 5.50% for general customers, and from 5.25% to 6% for senior citizens.
For tenures of 180 days to 210 days, the rate for general customers has been increased by 25 bps from 5.75% to 6%. For deposits maturing in 211 days to less than 1 year, the rate has been raised by 25 bps from 6% to 6.25% for general customers, and from 6.50% to 6.75% for senior citizens. However, the highest interest rate of 7.10% remains unchanged.
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Latest Yes Bank FD Interest Rates

Following the revision, regular customers of Yes bank can now receive interest rates ranging from 3.25% to 8%, while senior citizens are offered rates between 3.75% and 8.50%. The highest rates of 8% for regular customers and 8.50% for senior citizens apply to an 18-month tenure. These revised rates are effective from May 30, 2024.

Latest ICICI Bank FD Interest Rates

ICICI Bank provides fixed deposit interest rates between 3% to 7.20% for general citizens on tenures from 7 days to 10 years for amounts below Rs 2 crore. For senior citizens, the rates range from 3.50% to 7.75%, with the highest rates of 7.20% for general citizens and 7.75% for senior citizens available for tenures of 15 months to less than 2 years. These rates are effective from February 17, 2024.

Latest HDFC Bank FD Interest Rates

HDFC Bank offers interest rates ranging from 3.5% to 7.25% for general citizens on tenures between 7 days and 10 years. The rate for tenures of 18 months to less than 21 months has been increased from 7% to 7.25%. For senior citizens, the rates range from 3.5% to 7.75%. These new FD rates are effective from February 9, 2024, according to the HDFC Bank website.
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Latest Axis Bank FD Interest Rates

Axis Bank offers interest rates between 3% to 7.20% for general citizens on tenures from 7 days to 10 years for amounts below Rs 2 crore. For senior citizens, the rates range from 3.50% to 7.85%, with the highest rates of 7.20% for general citizens and 7.85% for senior citizens available for tenures of 17 to 18 months. These rates are effective from May 13, 2024.

Latest Canara Bank FD Interest Rates

Canara Bank provides interest rates ranging from 4% to 7.25% for general citizens on tenures from 7 days to 10 years for amounts below Rs 2 crore. For senior citizens, the rates range from 4% to 7.75%, with the highest rate of 7.25% offered for a tenure of 444 days. These rates are effective from February 19, 2024.

Latest PNB FD Interest Rates

Punjab National Bank (PNB) offers interest rates between 3.5% to 7.25% for general citizens on tenures from 7 days to 10 years for amounts below Rs 2 crore. The highest rate of 7.25% is available for a tenure of 400 days. These rates are effective from April 12, 2024.