Latest Fixed Deposit rates: What PNB, HDFC, SBI, Canara, ICICI banks pay - Top FDs compared
Fixed Deposit Rates: HDFC Bank, Punjab National Bank (PNB) and Canara Bank recently revised their interest rates.
Fixed Deposit Rates: HDFC Bank, Punjab National Bank (PNB) and Canara Bank recently revised their interest rates. PNB revised its fixed deposit rates with effect from November 1, 2018. The public lender has also introduced a special scheme of 555 days for November 2018 to March 2019 period during which subscribers can get an interest rate of 6.85% on deposits below Rs 1 crore. The interest rest under this scheme for senior citizens is 7.35%. This is also the highest interest rate offered by PNB.
With effect from 6 November 2018, HDFC Bank raised interest rated on FDs by up to 50 basis points across various tenors. The bank is now offering 6.5% interest on FDs for a tenure of 5-8 years and 8-10 years (Earlier it was 6%). The highest interest rate offered by HDFC is 7.40% on a loan tenure of 2-3 years on deposits below Rs 1 crore. For deposits between Rs 1-5 crore, HDFC offers up to 7.5% interest rate on different tenures of 1-3 years.
Canara Bank is now offering highest 7.10% interest on a tenure of 555 Days under the Canara Shikhar Deposit plan. For the 444 Days Canara Shikhar Deposit plan, the interest rate offered by the bank is 7.05%.
India's largest lender, State Bank of India (SBI) is offering highest 6.85% interest rate on a tenure of 5-10 years. For senior citizens, the highest interest rate offered by the bank is 7.35%.
The highest interest rate offered by ICICI Bank is 7.25% on 5 years tax saver plan. For senior citizens, it is 7.75%. The Axis Bank is offering 7.25% interest on various tenures of 1-5 years.
In contrast to these large banks, some small lenders are offering interest rates above 8% on FDs of various tenures. AU Small Finance Bank is offering 8.50 per cent on a FD tenure of two years. Similarly, IDFC Bank is offering 8.75% on a 5-year tax saving FD.
Some of the banks offering 8% or above interest rates on various FD terms include Indusind Bank, RBL, AU Small Finance Babk, DCB Bak, IDFC Bank, Laxmi Vilas Bank.
(All FD interest rates take from respective banks' website on 12-11-2018)