Bank fixed deposit (FD) interest rates: Do you know the exact return you are getting on your fixed deposit (FD) at this very moment? Some of the biggest commercial banks in the country — including the likes of SBI, Punjab National Bank (PNB), HDFC Bank and ICICI Bank — currently offer FD interest rates to the tune of 3-7.75 per cent on domestic fixed deposits — also known as term deposits — up to Rs 2 crore. All of these lenders pay slightly better returns to senior citizen depositors in select maturities. 

Here's a lowdown on the latest FD interest rates: 

SBI interest rate on FD

SBI FD term (maturity period) SBI interest rate with effect from February 15, 2023
General public Senior citizen
7 days to 45 days 3% 3.5%
46 days to 179 days 4.5% 5%
180 days to 210 days 5.25% 5.75%
211 days to less than 1 year 5.75% 6.25%
1 Year to less than 2 years 6.8% 7.3%
2 years to less than 3 years 7% 7.5%
3 years to less than 5 years 6.5% 7%
5 years and up to 10 years 6.5% 7.50%*
*Including additional premium of 50 bps under "SBI We-care" deposit scheme
 
Source: SBI website

ICICI Bank FD interest rate 

ICICI Bank FD maturity period FD interest rate with effect from February 24, 2023
General public Senior citizen
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 < 15 months 6.70% 7.20%
15 months to < 18 months 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%
Source: ICICI Bank website

Punjab National Bank (PNB) FD interest rate

Punjab National Bank FD maturity period FD interest rate with effect from February 20, 2023
General public Senior citizen
7 to 14 days 3.5% 4%
15 to 29days 3.5% 4%
30 to 45 days 3.5% 4%
46 to 90 days 4.5% 5%
91 to 179 days 4.5% 5%
180 days to 270 days 5.5% 6%
271 days to less than 1 year 5.8% 6.3%
1 year 6.8% 7.3%
Above 1 year to 665 days 6.8% 7.3%
666 days 7.25% 7.75%
667 days to 2 years 6.8% 7.3%
Above 2 year & up to 3 years 7% 7.5%
above 3 year & up to 5 years 6.5% 7%
above 5 years & up to 10 years 6.5% 7.3%
Source: PNB website

HDFC Bank FD interest rate

HDFC Bank FD maturity period FD interest rate with effect from February 21, 2023
General public Senior citizen
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 < = 6 months 4.50% 5.00%
6 mnths 1 days <= 9 mnths 5.75% 6.25%
9 mnths 1 day to < 1 year 6.00% 6.50%
1 year to < 15 months 6.60% 7.10%
15 months to < 18 months 7.10% 7.60%
18 months to < 21 months 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%

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7.75%*

 
*An additional premium of 0.25% (over and above the existing premium of 0.5 per cent) for senior citizens booking a fixed deposit during the special deposit offer from May 18, 2020 to March 31, 2023
Source: HDFC Bank website

Axis Bank FD interest rate

Axis Bank FD maturity period FD interest rate with effect from March 10, 2023
General public Senior citizen
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 < 3 months  4.5% 4.5%
3 months < 4 months  4.75% 4.75%
4 months < 5 months  4.75% 4.75%
5 months < 6 months  4.75% 4.75%
6 months < 7 months  5.75% 6%
7 months < 8 months  5.75% 6%
8 months < 9 months  5.75% 6%
9 months < 10 months  6% 6.25%
10 months < 11 months  6% 6.25%
11 months to 11 months 24 days  6% 6.25%
11 months 25 days < 1 year  6% 6.25%
1 year to 1 year 4 days  6.75% 7.5%
1 year 5 days to 1 year 10 days  6.75% 7.5%
1 year 11 days to 1 year 24 days  6.75% 7.5%
1 year 25 days < 13 months  7.1% 7.85%
13 months < 14 months  7.15% 7.9%
14 months < 15 months  7.15% 7.9%
15 months < 16 months  7.15% 7.9%
16 months < 17 months  7.15% 7.9%
17 months < 18 months  7.15% 7.9%
18 Months < 2 years  7.15% 7.9%
2 years < 30 months  7.26% 8.01%
30 months < 3 years  7% 7.75%
3 years < 5 years  7% 7.75%
5 years to 10 years  7% 7.75%
Source: Axis Bank website

Bank FD: Special rates for senior citizens

Currently, these lenders offers interest rates to the tune of 3.5-8.01 per cent to senior citizens, as against 3-7.1 per cent to the general public. 

The benchmark interest rates are next due for a review next month when the RBI's rate-deciding panel, the MPC, meets from April 6 to April 8.