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HDFC Bank Vs Axis Bank Vs ICICI Bank FD Rates; Who Offers Highest Interest Rates?
Several banks in the past couple of months have modified their fixed deposit interest rates despite the Reserve Bank of India (RBI) keeping the repo rates unchanged at 6.25% after 5 consecutive hikes in the repo rate since May 2022.
While several other banks have maintained their interest rates on Fixed Deposits in accordance with the RBI repo rate. Here is a made brief comparison of 3 top private sector banks HDFC Bank Vs Axis Bank Vs ICICI Bank FD Rates; Who Offers the Highest Interest Rates?
HDFC Bank
For fixed deposits under Rs 2 crore and terms ranging from 7 days to 10 years, HDFC Bank offers interest rates for regular residents between 3 per cent and 7.10 per cent. For the same FD tenure, it provides senior citizens with 3.50 per cent to 7.60 per cent instead. On a tenure of 15 months to less than 18 months, the bank offers the highest interest rate of 7.10 per cent and 7.60 per cent. According to HDFC Bank's website, the interest rates are effective from February 21, 2023.
Interest Rates On Domestic/NRO/NRE Fixed Deposits below Rs 2 Cr w.e.f. 21st February 2023
| Period | General Public | Senior Citizens |
|---|---|---|
| 7 - 14 days | 3.00% | 3.50% |
| 15 - 29 days | 3.00% | 3.50% |
| 30 - 45 days | 3.50% | 4.00% |
| 46 - 60 days | 4.50% | 5.00% |
| 61 - 89 days | 4.50% | 5.00% |
| 90 days | 4.50% | 5.00% |
| 6 mnths 1 days | 5.75% | 6.25% |
| 9 mnths 1 day to | 6.00% | 6.50% |
| 1 year to | 6.60% | 7.10% |
| 15 months to | 7.10% | 7.60% |
| 18 months to | 7.00% | 7.50% |
| 21 months - 2 years | 7.00% | 7.50% |
| 2 years 1 day - 3 years | 7.00% | 7.50% |
| 3 year 1 day to - 5 years | 7.00% | 7.50% |
| 5 year 1 day - 10 years | 7.00% | 7.75%* |
Source - HDFCbank.com
Axis Bank
Axis Bank has recently revised the interest rates on Fixed Deposits below Rs 2 crore. Following the revision, the bank now offers interest rates between 3.5 per cent to 7.10 per cent to general customers and 3.50 per cent to 7.85 per cent to senior citizens on tenures ranging from 7 days to 10 years. According to the bank's official website, the latest FD interest rates are effective from May 18, 2023.
Interest Rates On Domestic Fixed Deposits Below Rs 2 Cr w.e.f. 18th May 2023
| Period | General Public (% p.a.) | Senior Citizens (% p.a.) |
|---|---|---|
| 7 days to 14 days | 3.5 | 3.5 |
| 15 days to 29 days | 3.5 | 3.5 |
| 30 days to 45 days | 3.5 | 3.5 |
| 46 days to 60 days | 4 | 4 |
| 61 days | 4.5 | 4.5 |
| 3 months | 4.75 | 4.75 |
| 4 months | 4.75 | 4.75 |
| 5 months | 4.75 | 4.75 |
| 6 months | 5.75 | 6 |
| 7 months | 5.75 | 6 |
| 8 months | 5.75 | 6 |
| 9 months | 6 | 6.25 |
| 10 months | 6 | 6.25 |
| 11 months to 11 months 24 days | 6 | 6.25 |
| 11 months 25 days | 6 | 6.25 |
| 1 year to 1 year 4 days | 6.75 | 7.5 |
| 1 year 5 days to 1 year 10 days | 6.8 | 7.55 |
| 1 year 11 days to 1 year 24 days | 6.8 | 7.55 |
| 1 year 25 days | 6.8 | 7.55 |
| 13 months | 7.1 | 7.85 |
| 14 months | 7.1 | 7.85 |
| 15 months | 7.1 | 7.85 |
| 16 months | 7.1 | 7.85 |
| 17 months | 7.1 | 7.85 |
| 18 Months | 7.1 | 7.85 |
| 2 years | 7.05 | 7.8 |
| 30 months | 7 | 7.75 |
| 3 years | 7 | 7.75 |
| 5 years to 10 years | 7 | 7.75 |
Source - axisbank.com
ICICI Bank
ICICI Bank offers interest rates between 3 per cent to 7.10 per cent for general citizens and 3.50 per cent to 7.60 per cent for senior citizens for tenures ranging from 7 days to 10 years for amounts below Rs 2 crore. The bank offers the highest interest rate on the tenure of 15 months to less than 18 months i.e. 7.10 per cent to general citizens and 7.60 per cent to senior citizens. The interest rates on Fixed Deposits are effective from February 24, 2023, according to the bank's official website.
Fixed Deposit Rates (per cent per annum) below Rs 2 Cr w.e.f. February 24, 2023
| Period | General Public | Senior Citizens |
|---|---|---|
| 7 days to 14 days | 3.00% | 3.50% |
| 15 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.50% | 4.00% |
| 46 days to 60 days | 4.25% | 4.75% |
| 61 days to 90 days | 4.50% | 5.00% |
| 91 days to 120 days | 4.75% | 5.25% |
| 121 days to 150 days | 4.75% | 5.25% |
| 151 days to 184 days | 4.75% | 5.25% |
| 185 days to 210 days | 5.75% | 6.25% |
| 211 days to 270 days | 5.75% | 6.25% |
| 271 days to 289 days | 6.00% | 6.50% |
| 290 days to less than 1 year | 6.00% | 6.50% |
| 1 year to 389 days | 6.70% | 7.20% |
| 390 days to | 6.70% | 7.20% |
| 15 months to | 7.10% | 7.60% |
| 18 months to 2 years | 7.10% | 7.60% |
| 2 years 1 day to 3 years | 7.00% | 7.50% |
| 3 years 1 day to 5 years | 7.00% | 7.50% |
| 5 years 1 day to 10 years | 6.90% | #7.50% |
| 5 Years (80C FD) - Max to 1.50 lac | 7.00% | 7.50% |
Source - ICICIbank.com
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