HDFC Bank vs SBI vs Axis Bank: Check Latest FD Interest Rates

Several banks are currently offering attractive interest rates on fixed deposits for various tenures across categories. After the RBI kept the key lending rates unchanged at 6.5% during its latest monetary policy review earlier this month, experts believe it’s the most opportune time to reap benefits from higher FD interest rates.

The central bank is expected to go for a rate cut in its next policy review in December and this may lead to a revision in interest rates by banks across all categories.

Axis Bank Ltd. was the latest lender to revise its fixed deposit interest rates on Oct. 21. The private sector lender revised FD interest rates for deposits below Rs 3 crore for various tenures.

Here is a fixed deposit rate comparison of State Bank of India, Axis Bank and HDFC Bank Ltd.

The latest Axis Bank FD rates range between 3% and 7.25% for tenures between 7 days and 10 years, for senior citizens. The bank offers 0.5% higher FD interest rate for senior citizens compared to others.

Axis Bank is offering a 3% interest rate on FDs below Rs 3 crore and for tenures between 7 days and 29 days. The rates increase with longer tenures. The bank offers a 6.7% interest rate on FDs for one year and 7.1% for FDs of three to five years, for general customers.

Here are the Axis Bank fixed deposit interest rates per annum for deposits lower than Rs 3 crore across different tenures.

The State Bank of India revised its interest rates in July, ahead of the RBI’s August MPC meeting. SBI FD rates range between 3.5% and 7% for tenures between 7 days and 10 years. Like other lenders, SBI also provides 0.5% more interest rate to senior citizens.

SBI FD interest rates for tenures of 7 days to 45 days stand at 3.5%, 46 days to 179 days is 5.5%, 180 days to 210 days is 6%.

Here are the SBI fixed deposit interest rates per annum for deposits below Rs 2 crore for different tenures, in the case of senior citizens and general public.

India’s largest private sector lender HDFC Bank revised its FD interest rates on July 24. HDFC Bank is offering FD interest rates between 3% and 7.4% for deposits below Rs 3 crore. Senior citizens can enjoy 0.5% higher interest rates across tenures.

The highest interest rate for the general public is 7.4%, which is offered on investments for four years, seven months to 55 months. Senior citizens will get a 7.9% interest rate on FDs of the same tenure.

Check below to find out the latest HDFC Bank FD interest rates for deposits below Rs 3 crore across different tenures.