New Fixed Deposit interest rates: Axis Bank vs HDFC Bank vs ICICI Bank vs SBI Bank

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New Delhi: Different Indian Banks have raised interest rates on Fixed deposits post the multiple hike in RBI repo rate. All Major lenders SBI, HDFC Bank, ICICI Bank and Axis Bank have hiked FD interest rates, making them attractive for investors. The Reserve Bank of India (RBI) has increased the repo rate to 190 basis points since May in order to rein the runaway inflation and hamper the sliding rupee against Dollar.

Check the new interest rates on Fixed deposits of different banks:

Axis Bank FD rates

The bank is offering the interest rates on Fixed deposits. Its new rates effective from October 14, 2022. FDs are available at different tenures maturing between 7 days to 10 years that range from 3.50% to 6.10% for the general public and 3.50% to 6.85% for senior citizens.

HDFC Bank Fixed Deposit rates

The bank hikes interest rates on Fixed deposits up to 75 basis points. The new rates are effective from October 11, 2022. You can get an interest rate up to 6% for the general public and 6.75% for senior citizens. The interest rates depend on different tenures maturing between 7 days to 10 years.

ICICI Bank FD rates

The bank is offering the interest rates between 3% to 6.20% for general public and 3.50% to 6.75% for senior citizens maturing between 7 days to 10 years. ICICI Bank has increased interest rates on fixed deposits.

SBI Fixed Deposit rates

India’s largest bank State Bank of India (SBI) has increased the interest rates on Fixed deposits by up to 20 basis points. It is now offering an interest rate ranging from 3% to 5.85% for the general public and 3.50% and 6.65% for senior citizens. They are available for different FDs maturing between in 7 days to 10 years.