Fixed Deposit (FD) rates rise! Check what SBI, PNB, ICICI, HDFC, BOB, Post Office, others are offering

Fixed Deposit (FD) rates are rising, even as recent repo rate hikes have come as a bad news for borrowers. But if you are planning to see your wealth grow steadily sans risks, this is probably one of the best times to invest in Fixed Deposits. In the last few months, several banks have increased FD rates. The SBI had increased its rates by 5-10 basis points (bps) just a couple of days before the RBI monetary policy announcement on August 1. Following in the footsteps of SBI, HDFC increased FD rates by 60 bps.

Here we take a look at the highest FD rates, and their respective terms, offered by several banks, newly listed lenders and small finance banks. (For more details check the websites of respective banks).

SBI: For 1-3 year of regular FDs (non-senior citizens), SBI offers 6.7-6.35% interest per annum. For 3-5 year term, SBI offers 6.80% interest and for 5-10 years, the rate is 6.85%. 

Punjab National Bank (PNB): This public sector bank offers 6.75% interest on deposits for 1-3 years. 

Bank of Baroda: BOB offers 6.70% interest rates on deposits for 1-5 years.

HDFC Bank: This private sector bank offers 7.25% interest on deposits for 1-2 years. 

ICICI Bank: This bank offers 7% interest on deposits for 2-10 years. 

Axis Bank: This bank is offering 7.10% interest on deposits for 1 year to 14 months. 

Standard Chartered is offering highest 7.40% interest on deposits for 18 months to two years. 

HSBC gives 7% interest on deposits for 731 days. 

DBS is offering 7.5% interest on deposits for 2 years to six months. 

Jana Bank: This new bank is offering one of the highest interest on FDs at 8.5% on deposits for 366 days. 

RBL is offering 7.75% interest on FDs for a term of 12-24 months. 

AU Bank gives 8% interest on FDs for a term of 45-60 months. 

Bandhan Bank is offering 8.15% interest on FDs for a tenure of 2-5 years. 

Post Office offers 7.4% interest on FDs for five years.