Bank fixed deposits (FDs) are often considered the safest investment option. The investors have an option of creating an FD account with top lenders like State Bank of India (SBI), ICICI Bank and HDFC Bank, among others. However, before putting the money, an investor should look at the rate of interest offered by the bank. Most lenders offer better interest rate than a savings bank account. This rate might change according to the tenure of the investment. And, the tenure of a fixed deposit also varies from bank to bank. The good part is that fixed deposits with a maturity period of five years or 10 years also offer income tax benefits.

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To make the investors' job easier, here are the latest FD rates of varies banks:

State Bank of India FD rates:

Short-term deposits: The bank is currently offering interest rates between 5.75% to 6.40% annually on these products. The tenure of these FDs is between seven days and one year. 

Medium-term deposits: They come with a minimum lock-in period of one year and offer rates between 6.4% and 6.7%. 

Long-term deposits: FDs with a tenure between 5 years to 10 years offer a rate of interest at 6.85% per annum.

HDFC Bank FD rates:

If the tenure of the FD is between 7 days and 90 days, HDFC offers 6.25%. For 91 days to one year, the lender offers 7.3%. It offers 7.4% interest if the tenure is between two to three years. For FD between three to five years, the bank offers an interest rate of 7.25%. For long term deposits with maturity between five to ten 10 years, the bank offers 7.25% interest rate.

ICICI Bank FD rates:

ICICI Bank's short term FD deposit comes with a maturity period of seven days to 45 days during which it offers 5.50%. For 46-184 days 6.25%, 185-289 days 6.50% and 290 days to less than 1 year 6.40%. It offers 7.25% interest if the investment is made for two to three years. If the maturity period is between three to five years, the rate is 7.25% and if the investment is made for five to ten years, the rate is 7%. 

Bank of Baroda FD rates:

For FDs with maturity period 15 days to 1 year, BoB is offering a 6.7% interest rate. If the investment is made for one to two years, the lender offers 6.80% interest. On maturity between two and five years, BoB is offering a 6.70% interest rate. BoB offers an interest rate of 6.7% on FDs with maturity between 5 years and 10 years.

Axis Bank FD rates:

The bank offers 6.25% for FDs with maturity between 46 days and 6 months and 7.1% for between 9 months and one year. If the maturity period is between one to two years, the bank offers 7.3% rate. If the investment is made between five years and 10 years, Axis Bank offers an interest rate of 7%.