SBI vs HDFC vs ICICI Fixed Deposit--Check latest FD rates December 2022

New Delhi: Major banks in India have also followed suit after the RBI raised the key interest rate by 35 basis points last week.

On December 7, the Reserve Bank of India hiked the key repo rate by 35 basis points to 6.25 per cent, the fifth straight increase since May. In all, the RBI has raised the benchmark rate by 2.25 per cent since May this year. Consequently, the standing deposit facility (SDF) rate is adjusted to 6 per cent and the marginal standing facility (MSF) rate and bank rate to 6.50 per cent.

Bank fixed deposits (FDs) are still a popular investment option, not only among retirees looking for a steady stream of income, but also among risk-averse investors. Over-exposure to FDs, on the other hand, is not a good thing, and you should evaluate your asset allocation and goals before deciding how much money to put in them.

Following the RBI interest rate hike, SBI vs HDFC vs ICICI have also hiked their FD interest rates across various tenors. Here is a comparison of fixed deposit interest rates of SBI, HDFC, ICICI Bank.

ICICI FD Interest rates on Domestic, NRO & NRE deposits (Less than Rs 5 Crore)

Maturity Period	Interest rates (per cent per annum) w.e.f. November 16, 2022		Interest rates (per cent per annum) w.e.f. December 13, 2022
	Single deposit of less than ₹20.0 million		Single deposit of ₹20.0 mn & above but less than 50.0 mn
	General	**Senior Citizen	General	**Senior Citizen
7 days to 14 days	3.00%	3.50%	4.25%	4.25%
15 days to 29 days	3.00%	3.50%	4.25%	4.25%
30 days to 45 days	3.50%	4.00%	5.00%	5.00%
46 days to 60 days	3.75%	4.25%	5.25%	5.25%
61 days to 90 days	4.25%	4.75%	5.75%	5.75%
91 days to 120 days	4.50%	5.00%	6.00%	6.00%
121 days to 150 days	4.50%	5.00%	6.00%	6.00%
151 days to 184 days	4.50%	5.00%	6.00%	6.00%
185 days to 210 days	5.25%	5.75%	6.25%	6.25%
211 days to 270 days	5.25%	5.75%	6.25%	6.25%
271 days to 289 days	5.25%	5.75%	6.50%	6.50%
290 days to less than 1 year	5.50%	6.00%	6.50%	6.50%
1 year to 389 days	6.10%	6.60%	6.90%	6.90%
390 days to < 15 months	6.10%	6.60%	6.90%	6.90%
15 months to < 18 months	6.40%	6.90%	6.80%	6.80%
18 months to 2 years	6.40%	6.90%	6.80%	6.80%
2 years 1 day to 3 years	6.50%	7.00%	6.80%	6.80%
3 years 1 day to 5 years	6.60%	7.10%	6.50%	6.50%
5 years 1 day to 10 years	6.50%	7.10%	6.50%	6.50%
5 Years (80C FD) – Max to `1.50 lac	6.60%	7.10%	NA	NA

HDFC BANK FD INTEREST RATE

Domestic / NRO / NRE FIXED DEPOSIT RATE. Applicable from 8th Nov, 2022. (Senior Citizen Rates do not apply to NRIs | Minimum tenor for NRE Deposit is 1 Year.)

Tenor Bucket	< 2 Crore
	Interest Rate (per annum)	**Senior Citizen Rates (per annum)
7 - 14 days	3.00%	3.50%
15 - 29 days	3.00%	3.50%
30 - 45 days	3.50%	4.00%
46 - 60 days	4.00%	4.50%
61 - 89 days	4.50%	5.00%
90 days < = 6 months	4.50%	5.00%
6 mnths 1 days <= 9 mnths	5.25%	5.75%
9 mnths 1 day to < 1 year	5.50%	6.00%
1 year to < 15 months	6.10%	6.60%
15 months to < 18 months	6.40%	6.90%
18 months to < 21 months	6.50%	7.00%
21 months - 2 years	6.50%	7.00%
2 years 1 day - 3 years	6.50%	7.00%
3 year 1 day to - 5 years	6.50%	7.00%
5 year 1 day - 10 years	6.25%	7.00%*

SBI FD INTEREST RATE

SBI website has announced the “Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. 13.12.2022”.

Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore 'have been revised.The revised interest rates are as under :

Tenors	Existing Rates for Public w.e.f. 22.10.2022	Revised Rates For Public w.e.f. 13.12.2022	Existing Rates for Senior Citizens w.e.f. 22.10.2022	Revised Rates for Senior Citizens w.e.f. 13.1
7 days to 45 days	3.00	3.00	3.50	3.50
46 days to 179 days	4.50	4.50	5.00	5.00
180 days to 210 days	5.25	5.25	5.75	5.75
211 days to less than 1 year	5.50	5.75	6.00	6.25
1 year to less than 2 year	6.10	6.75	6.60	7.25
2 years to less than 3 years	6.25	6.75	6.75	7.25
3 years to less than 5 years	6.10	6.25	6.60	6.75
5 years and up to 10 years	6.10	6.25	6.90	7.25@

The interest rate payable to SBI Staff and SBI pensioners will be 1.00 % over and above the applicable rate shown in the above table.

The rates of interest are applicable to fresh deposits and renewals of maturing deposits. The interest rates on ‘SBI Tax Savings Scheme 2006(SBITSS)’ Retail Deposits and NRO deposits shall be aligned as per the rates for domestic retail term deposits. However, NRO deposits of Staff are not eligible for additional 1% interest otherwise applicable to staff domestic retail deposits. These rates of interest are also applicable to domestic term deposits from Cooperative Banks, the bank said.