HDFC Bank, ICICI Bank revise FD rates. How they compare with SBI, Axis Bank. Latest fixed deposit rates of these banks

HDFC Bank has revised its fixed deposit rates for deposits under ₹3 crore. As of July 24, 2024, the bank now offers interest rates ranging from 3% to 7% for general depositors and 3.5% to 7.5% for senior citizens, depending on the deposit tenor, which spans from 7 days to 10 years. These revised rates are reflected on HDFC Bank’s official website.

Tenure on which HDFC Bank has hiked FD rates

The bank has increased its fixed deposit interest rates as follows:

For tenures ranging from 2 years 11 months to 3 years 11 months, HDFC Bank has been raised by 20 basis points to a range of 7.15% to 7.35%.

For tenures from 4 years 7 months to 4 years 7 months, the rate has been increased by 20 basis points, now ranging from 7.20% to 7.40%.

ICICI and HDFC Banks have recently updated their term deposit rates, impacting the returns on their fixed deposits. Here’s a comparison of these new rates with those offered by SBI and Axis Bank.

SBI latest FD rates

State Bank of India (SBI) offers fixed deposit rates ranging from 3.50% to 7.00% for general customers across various tenures, from 7 days to 10 years. These artes are effective from 15 June.

For senior citizens, SBI provides an additional 0.50% interest on these rates for all deposit tenures. This means that senior citizens will receive 0.50% more than the standard rates offered to general customers on fixed deposits.

ICICI Bank latest FD rates

ICICI Bank offers fixed deposit rates ranging from 3% to 7.20% for general customers across various tenures, from 7 days to 10 years.

For senior citizens, SBI provides an additional 0.50% interest on these rates for all deposit tenures. This means that senior citizens will receive 3.50% to 7.70% on term deposits maturing in 7 days to 10 years, These rates are effective from 30 July.

Axis Bank latest FD rates

Axis Bank offers fixed deposit rates ranging from 3% to 7.20% for general customers across various tenures, from 7 days to 10 years. These rates are effective from 1 July