Fixed Deposit interest rate: Check SBI vs ICICI vs HDFC vs Axis vs Post office vs PNB vs IndusInd one year return calculator

The State Bank of India offers an interest rate of 6.1 per cent for the general category and 6.6 per cent for senior citizens on fixed deposits with a maturity tenure of one year. This rate is applicable for deposits below Rs 2 crore. 

The private sector lender ICICI Bank also offers an interest rate of 6.10 per cent for the general category and 6.6 per cent for senior citizens on fixed deposits with a maturity tenure of one year to 389 days. This fixed deposit rate is applicable for deposits below Rs 2 crore.

The HDFC Bank has also kept its rate competitive and at par with other lenders. The private sector lender offers an interest rate of 6.10 per cent for the general category and 6.6 per cent for senior citizens on fixed deposits with a maturity tenure of one year to 15 months.

Of the all banks, Axis Bank offers a slightly higher return on deposits for one year. The bank offers a return of 6.25 per cent for the general public and 7 per cent for senior citizens on FDs maturing between one year and one year five days.

The Post Office offers an interest rate of 5.5 per cent on fixed deposits of one year. On maturity, the depositor may further extend the Time Deposit account for another tenure for which the account was initially opened.

The public sector lender Punjab National Bank is offering a return of 6.3 per cent for the general public and 6.8 per cent for senior citizens on fixed deposits for one year. This is one of the highest rates offered by any bank. 

The IndusInd Bank is offering a return of 6.25 per cent for the general public and 7 per cent for senior citizens. So, senior citizens are getting the highest return on one year deposit from IndusInd Bank.

Since the interest rate is largely between 6.1 to 6.3 per cent for general public, the return will be between Rs 6,100 to Rs 6,300 on a deposit of Rs one lakh for the tenure of one year. For senior citizens, the return will be between Rs 6,600 to Rs 7,000 on a FD of Rs one lakh.