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Fixed Deposit interest rate: Check SBI vs ICICI vs HDFC vs Axis vs Post office vs PNB vs IndusInd one year return calculator
Post the RBI rate hike, several banks including private and public sector lenders have revised their interest rates on fixed deposits making their offering more lucrative and competitive. Banks also offer an additional interest rate of 0.5 per cent for senior citizens and some banks offer an additional rate of interest for their staff as well.
Fixed Deposit Interest Rate SBI
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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.
Fixed Deposit Interest Rate ICICI Bank
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.
Fixed Deposit Interest Rate HDFC Bank
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.
Fixed Deposit Interest Rate Axis Bank
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.
Fixed Deposit Interest Rate Post Office
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.
Fixed Deposit Interest Rate PNB
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.
Fixed Deposit Interest Rate IndusInd 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.
Fixed Deposit interest rate calculator
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.
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