FD rates in July 2026: SBI, HDFC Bank, ICICI Bank, PNB, Axis Bank, Bank of Baroda compared; check latest interest rates

Fixed deposits (FDs) continue to be one of the most preferred investment options for people seeking stable returns and capital protection. They offer assured returns and are not affected by market volatility, making them a popular choice among conservative investors.

If you are planning to invest in a fixed deposit in July 2026, here's a comparison of the latest FD interest rates offered by State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, Bank of Baroda (BoB) and Punjab National Bank (PNB) on deposits below Rs 3 crore.

State Bank of India (SBI)

State Bank of India offers its highest FD interest rate of 6.45 per cent on the 444-day Amrit Vrishti deposit scheme. The bank offers 6.25 per cent on one-year deposits, 6.30 per cent on three-year deposits, while both five-year and 10-year fixed deposits earn 6.05 per cent.

HDFC Bank

HDFC Bank offers its highest FD interest rate of 6.50 per cent on deposits with a tenure of three years one day to less than four years seven months. The bank offers 6.25 per cent on one-year deposits, 6.45 per cent on three-year deposits, 6.40 per cent on five-year deposits and 6.15 per cent on 10-year deposits.

ICICI Bank

ICICI Bank offers its highest FD interest rate of 6.50 per cent on deposits with a tenure of three years one day to 10 years. The bank pays 6.25 per cent on one-year deposits, 6.45 per cent on three-year deposits, while both five-year and 10-year deposits earn 6.50 per cent.

Axis Bank

Axis Bank offers its highest FD interest rate of 6.50 per cent on deposits with a tenure of 18 months to 10 years. The bank offers 6.25 per cent on one-year deposits, while three-year, five-year and 10-year deposits all earn 6.50 per cent.

Bank of Baroda (BoB)

Bank of Baroda offers its highest FD interest rate of 6.75 per cent under the 555-day BoB Golden Goal Deposit Scheme. For regular fixed deposits, the bank offers 6.25 per cent on one-year and three-year deposits, 6.30 per cent on five-year deposits and 6.00 per cent on 10-year deposits.

Punjab National Bank (PNB)

Punjab National Bank offers its highest FD interest rate of 6.60 per cent on its 444-day fixed deposit. The bank pays 6.25 per cent on one-year deposits, 6.30 per cent on three-year deposits, 6.35 per cent on five-year deposits and 6.00 per cent on 10-year deposits.

Which bank offers the highest FD interest rate?

Among the six major banks compared, Bank of Baroda offers the highest FD interest rate of 6.75 per cent under its 555-day BoB Golden Goal Deposit Scheme. It is followed by Punjab National Bank at 6.60 per cent, while HDFC Bank, ICICI Bank and Axis Bank offer up to 6.50 per cent. State Bank of India offers a maximum rate of 6.45 per cent under its 444-day Amrit Vrishti scheme.

While a higher interest rate can improve returns, investors should also compare factors such as deposit tenure, premature withdrawal rules, liquidity requirements and interest payout options before making an investment decision.

Note: The interest rates mentioned above are applicable to domestic fixed deposits below Rs 3 crore and are based on rates effective 1 July 2026. FD interest rates are subject to change at the discretion of banks. Several small finance banks currently offer interest rates of up to 8.10 per cent, but investors should also consider factors such as deposit safety, liquidity requirements and their overall financial goals before investing.

Disclaimer: This is not investment advice. Do your own due diligence or consult a financial expert before making any investment decision.