FD Interest Rates: As the interest rate hike cycle continues with the Reserve Bank India (RBI) is raising repo twice within a month to control inflation, banks are also increasing their interest offering on deposits and loans. Many banks have increased their interest rates, including ICICI Bank, HDFC bank And Punjab National Bankin the last days.
The interest rate on ICICI Bank fixed deposits ranges from 2.75-6.50 per cent, depending on the tenure and age of the depositors. HDFC Bank is also offering similar interest rates on its fixed deposits. However, Punjab National Bank is giving returns in the range of 3-6 per cent. Here is a complete comparison of FD interest rates of ICICI Bank, HDFC Bank and Punjab National Bank:
ICICI Bank FD interest rate (on deposits less than Rs 2 crore):
7 days to 14 days: for general public – 2.75 percent; For senior citizens – 3.25 percent
15 days to 29 days: for general public – 2.75 percent; For senior citizens – 3.25 percent
30 days to 45 days: for general public – 3.25 percent; For senior citizens – 3.75 percent
46 days to 60 days: for general public – 3.25 percent; For senior citizens – 3.75 percent
61 days to 90 days: for general public – 3.25 percent; For senior citizens – 3.75 percent
91 days to 120 days: for general public – 3.75 percent; For senior citizens – 4.25 percent
121 days to 150 days: for general public – 3.75 percent; For senior citizens – 4.25 percent
151 days to 184 days: For general public – 3.75 percent; For senior citizens – 4.25 percent
185 days to 210 days: for general public – 4.60 percent; For senior citizens – 5.10 percent
211 days to 270 days: for general public – 4.60 percent; For senior citizens – 5.10 percent
271 days to 289 days: for general public – 4.60 percent; For senior citizens – 5.10 percent
290 days to less than 1 year: for general public – 4.60 percent; For senior citizens – 5.10 percent
1 year to 389 days: for general public – 5.30 percent; For senior citizens – 5.80 percent
390 days to less than 15 months: for general public – 5.30 percent; For senior citizens – 5.80 percent
15 months to less than 18 months: for general public – 5.30 percent; For senior citizens – 5.80 percent
18 months to 2 years: for general public – 5.30 percent; For senior citizens – 5.80 percent
2 years 1 day to 3 years: for general public – 5.50 percent; For senior citizens – 5.80 percent
3 years 1 day to 5 years: for general public – 5.70 percent; For senior citizens – 6.20 percent.
5 years 1 day to 10 years: for general public – 5.75 percent; For senior citizens – 6.50 percent.
HDFC Bank FD interest rates (on deposits less than Rs 2 crore):
15 days to 29 days: for general public – 2.50 percent; For Senior Citizens – 3.00 percent
30 days to 45 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
46 days to 60 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
61 days to 90 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
91 days to 120 days: for general public – 3.50 percent; For Senior Citizens – 4.00 percent
6 months 1 day to 9 months: for general public – 4.65 percent; For senior citizens – 5.15 percent
9 months 1 day to less than one year: for general public – 4.65 percent; For senior citizens – 5.15 percent
1 year: for general public – 5.10 percent; For senior citizens – 5.60 percent
1 year 1 day to 2 years: for general public – 5.35 percent; For senior citizens – 5.85 percent
2 years 1 day to 3 years: for general public – 5.40 percent; For senior citizens – 5.90 percent
3 years 1 day to 5 years: for general public – 5.60 percent; For senior citizens – 6.10 percent
5 years 1 day to 10 years: for general public – 5.75 percent; For senior citizens – 6.50 percent.
PNB FD interest rate (on deposits less than Rs 2 crore):
7 days to 14 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
15 days to 29 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
30 days to 45 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
46 days to 90 days: for general public – 3.25 percent; For senior citizens – 3.75 percent
91 days to 179 days: for general public – 4.00 percent; For senior citizens – 4.50 percent
180 days to 270 days: for general public – 4.50 percent; For Senior Citizens – 5.00 percent
271 days to less than 1 year: For general public – 4.50 percent; For Senior Citizens – 5.00 percent
1 year: for general public – 5.20 percent; For senior citizens – 5.70 percent
1 year to more than 2 years: for general public – 5.20 percent; For senior citizens – 5.70 percent
2 years to more than 3 years: for general public – 5.30 percent; For senior citizens – 5.80 percent
3 years to more than 5 years: for general public – 5.50 percent; For Senior Citizens – 6.00 percent
5 years to more than 10 years: for general public – 5.60 percent; For senior citizens – 6.10 percent
1111 days: for general public – 5.50 percent; For senior citizens – 6.00 percent.
RBI’s Monetary Policy Committee last week unanimously decided to raise the repo rate by 50 basis points to 4.90 per cent with a focus on the return of housing. This has prompted lenders to increase interest rates on loans. According to the latest official data, retail inflation came down slightly to 7.04 per cent in May.
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