Latest FD rates compared: SBI vs ICICI Bank vs PNB vs HDFC vs Bandhan Bank.
Days after the Reserve Bank of India (RBI) reduced repo rate, also known as the lending rate, to 25 basis points in the Monetary Policy Review, major banks like State Bank of India (SBI), ICICI, HDFC Bank, Bank of Baroda (BoB) and Bandhan Bank have also revised the interest rates on selected buckets for general customers as well as senior citizens. Punjab National Bank (PNB) is the latest addition to the list of banks revising interest rates. PNB has revised the rates on FDs with effect from 1 July. At the June 6 review, RBI had said banks have cut rates by a measly 0.21% as against the 0.50% cut in key rates, and had asked banks to do more.
Here are the latest revised rates offered by the top lenders of the country:
Bandhan Bank latest FD rates
FD interest rates in Bandhan Bank range from 4.50% per annum (p.a.) to 7.65% p.a. for deposits with a tenure of 7 days upto ten years. For FD maturity between 6 months to less than one year, Bandhan Bank offers 6.8% rate of interest. For deposits maturing in 1 to 2 years, the bank offers an interest rate of 7.5%. Bandhan Bank offers best FD rate of 7.65% on term deposits for a tenure of 2 years to 10 years. The bank revised the FD rate on 18 June 2019.
PNB latest FD rates
PNB has lowered the interest rate on maturities with tenures of 7 to 14 days and 15 to 29 days with effect from 1 July. The bank is offering 5.5% interest rate to general customers for 7- 14 and 15-29 days. For one-year FD, the bank is offering 7% rate of interest. For maturity term of more than one year and up to three years, PNB offers 6.75% interest rate. On FDs maturing between three years and 10 years, PNB is offering 6.25% interest rate.
Bank of Baroda latest FD rates
Bank of Baroda (BoB) offers several fixed deposit schemes to choose from short-term or long-term. For FDs with maturity period 7 days to 90 days, BoB is offering 5% interest rate. On FD maturity between 91 days to less than one year, the bank is offering 6.5% interest rate. On FD maturity between one year and two years, BoB is offering 6.80% interest rate. On maturity between two and five years, BoB is offering 6.70% interest rate. On FDs maturing between five years and ten years, BoB offers an interest rate of 6.7%. These interest rates are applicable with effect from 21 June.
SBI latest FD rates
SBI offers FDs ranging from seven days to one year. For FDs with maturity period of 7 days to less than 1 year, SBI offers a 6.40% interest rate. On FDs maturing between one year and two years, the bank is offering 7% interest rate. On FDs maturing in 2-3 years, SBI offers 6.75%. On maturity between three and five years, the bank is offering 6.70% interest rate. SBI offers an interest rate of 6.60% on FDs with maturity between five years and 10 years.
ICICI Bank latest FD rates
ICICI Bank offers short-term FDs ranging from 7 days to 289 days and long-term FDs ranging from 1-10 years. For FDs with a maturity of 7 days to less than 1 year, ICICI Bank is offering 6.75% interest rate. On FDs maturing in 2-3 years, the bank is offering a 7.5% interest rate. ICICI Bank is offering a 7.25% interest rate on FDs maturing between three years and five years. ICICI Bank offers an interest rate of 7% on FDs with maturity between five years and 10 years.
HDFC Bank latest FD rates
HDFC Bank is paying an interest of 7.30% for deposits of under₹2 crore for a year. The bank is offering 7.4 % interest rate on FD maturing in 2-3 years. HDFC Bank is offering 7.25% interest rate on FDs maturing between three and five years. The bank offers interest rate of 6.5% on FDs with maturity between five years and 10 years.
