Latest Fixed Deposit interest rates: Leading lenders State Bank of India (SBI) and Axis Bank have recently revised their Fixed Deposit rates recently. These revisions come after a series of FD rate hikes announced be several banks over the last few months. It is expected that the FD rates may go up further in the coming months. A report by The Economics Times said on Friday that the banks may further hike FD rates as they need more funds for lending. 

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On Wednesday, the State Bank of India raised the interest rates on fixed deposits by up to 10 basis points or 0.10 per cent to 6.80 per cent on select maturities. The new rates ranging from 5 to 10 bps are applicable for deposits below Rs 1 crore and are effective immediately, the bank said. The public lender has raised rates for tenures of 1-3 years only. For fixed deposits maturing in one to less than two years, SBI has revised its rate to 6.80 per cent from 6.70 percent earlier. For senior citizens, the new rate for the same maturity has been increased to 7.30 from 7.20 per cent. For deposits maturing in two to less than three years, the rate has been increased to 6.80 per cent from 6.75 percent.

Senior citizens will get a rate of 7.30 per cent as against 7.25 per cent on deposits with tenor of two to less than three years. The lender has kept deposits rates unchanged for other maturities. It is offering a deposit rate of 6.80 per cent for tenure three years to less than five years. 

*Source: SBI

Axis Bank

The Axis Bank has also revised FD rates with effect from December 1, 2018. The revised rates are applicable to various tenors for domest FDs. 

Term
Interest rates (with effect from December 1, 2018)
  
General public Senior citizens  
7 days to 14 days 3.5 3.5
15 days to 29 days 3.5 3.5
30 days to 45 days 5.5 5.5
46 days to 60 days 6.25 6.25
61 days < 3 months 6.25 6.25
3 months < 4 months 6.25 6.25
4 months < 5 months 6.25 6.25
5 months < 6 months 6.25 6.25
6 months < 7 months 6.75 7
7 months < 8 months 6.75 7
8 months < 9 months 6.75 7
9 months < 10 months 7.1 7.35
10 months < 11 months 7.1 7.35
11 months < 1 year 7.1 7.35
1 year < 1 year 5 days 7.3 7.95
1 year 5 days < 1 year 11 days 7.55 8.2
1 year 11 days < 13 months 7.3 7.95
13 months < 14 months 7.35 8
14 months < 15 months 7.3 7.95
15 months < 16 months 7.3 7.95
16 months < 17 months 7.3 7.95
17 months < 18 months 7.6 8.25
18 Months < 2 years 7.3 7.95
2 years < 30 months 7.5 8.15
30 months < 3 years 7.5 8
3 years < 5 years 7.25 7.75
5 years to 10 years 7 7.5

Source: Axis Bank

HDFC

The rate hike announced by SBI followed an increase in deposit rates by HDFC Bank by up to 0.5 per cent. Earlier, ICICI Bank had increased FD rates by up to 0.25 per cent on select maturities. 

Period
 < 1 Crore
Interest Rate
(per annum)
**Senior Citizen Rates
(per annum)
7 - 14 days 3.50% 4.00%
15 - 29 days 4.25% 4.75%
30 - 45 days 5.75% 6.25%
46 - 60 days 6.25% 6.75%
61 - 90 days 6.25% 6.75%
91 days - 6 months 6.25% 6.75%
6 mnths 1 day- 6 mnths 3 days 6.75% 7.25%
6 mnths 4 days 6.75% 7.25%
6 mnths 5 days- 9 mnths 6.75% 7.25%
9 mnths 1 day- 9 mnths 3 days 7.10% 7.60%
9 mnths 4 days 7.10% 7.60%
9 months 5 days - 9 months 15 days 7.10% 7.60%
9 months 16 days 7.10% 7.60%
9 months 17 days < 1 Year 7.10% 7.60%
1 Year 7.30% 7.80%
1 year 1 day - 1 year 3 days 7.30% 7.80%
1 year 4 days 7.30% 7.80%
1 year 5 days - 1 Year 15 Days 7.30% 7.80%
1 Year 16 days 7.30% 7.80%
1 year 17 days - 2 Years 7.30% 7.80%
2 years 1day - 2 Years 15 days 7.40% 7.90%
2 Years 16 days 7.40% 7.90%
2 years 17 days - 3 Years 7.40% 7.90%
3 years 1day - 5 years 7.25% 7.75%
5 Years 1 Day - 8 Years 6.50% 7.00%
8 Years 1 Day - 10 Years 6.50% 7.00%
     

*Source: HDFC

Yes Bank

Yes Bank offers attractive interest rates up to 8% on certain terms. 

RESIDENT FIXED DEPOSIT INTEREST RATES (% p.a)**
Period
 Rates for < 1 Crore w.e.f 17th Oct 2018
Regular Senior Citizen***
Interest Rates Annualised Yield^ Interest Rates Annualised Yield^
7 to 45 days 5.00% 5.00% 5.50% 5.50%
46 to 90 days 7.00% 7.00% 7.50% 7.50%
3 months to < 6 months 6.90% 6.90% 7.40% 7.40%
6 months to < 9 months 7.10% 7.16% 7.60% 7.67%
9 months to < 1 Year 7.00% 7.12% 7.50% 7.64%
1 Years to <= 10 years* 7.25% 7.45% 7.75% 7.98%
 
*Special Rates
12 Months 10 Days to
12 Months 20 Days		 7.50% 7.71% 8.00% 8.24%
18 Months 8 Days to
18 Months 18 Days		 7.85% 8.08% 8.35% 8.62%
36 Months 10 Days to
36 Months 20 Days		 7.50% 7.71% 8.00% 8.24%

Source: Yes Bank