Fixed deposits (FDs) are offered by the State Bank of India (SBI), Axis Bank, Kotak Mahindra Bank, and IDFC First Bank for terms ranging from seven days to ten years. Before investing your money in an FD account, it’s always a good idea to compare the FD interest rates provided by different banks. This month, Axis Bank and IDFC First Bank updated their FD interest rates.
Take a look at SBI, Axis Bank, IDFC First, and Kotak Mahindra Bank’s current FD interest rates.
SBI current FD interest rates (amount below ₹2 crores) for the general public
SBI FDs with maturities ranging from 7 to 45 days would yield 2.9 percent. Term deposits with a maturity of 46 to 179 days would yield 3.9 percent. FDs with maturities ranging from 180 days to less than one year would yield 4.4 percent. Deposits with a maturity of one year or less than two years can now earn 10 bps more. The interest rate on these deposits will be 5% instead of 4.9 percent. FDs maturing in two to three years would yield 5.1 percent. FDs with maturities of three to five years will pay 5.3 percent, while term deposits with maturities of five to ten years will pay 5.4 percent. These rates will be in effect beginning January 8, 2021. SBI provides senior citizens with a 50 bps interest rate discount in all tenors. Senior citizens will receive 3.4 percent to 6.2 percent on FDs maturing in 7 days to 10 years after the most recent revision. These prices will take effect on January 8, 2021.
- For 7 days to 45 days – 2.9%
- For 46 days to 179 days – 3.9%
- For 180 days to 210 days – 4.4%
- For 211 days to less than 1 year – 4.4%
- For 1 year to less than 2 years – 5%
- For 2 years to less than 3 years – 5.1%
- For 3 years to less than 5 years – 5.3%
- For 5 years and up to 10 years – 5.4%2 years to less than 3 years – 5.1%
- For 3 years to less than 5 years – 5.3%
- For 5 years and up to 10 years – 5.4%
Axis Bank current FD interest rates (amount below ₹2 crores) for the general public
Axis Bank FDs are provided with terms ranging from seven days to ten years. On January 4, 2021, the bank changed the interest rate on FDs. The bank offers FDs with interest rates ranging from 2.5 percent to 5.50 percent to general customers. On such maturities, Axis Bank gives senior citizens a higher interest rate.
- 7 days to 14 days 2.50%
- 15 days to 29 days 2.50%
- 30 days to 45 days 3%
- 46 days to 60 days 3%
- 61 days to 3 months 3%
- 3 months to 4 months 3.5%
- 4 months to 5 months 3.5%
- 5 months to 6 months 3.5%
- 6 months to 7 months 4.40%
- 7 months to 8 months 4.40%
- 8 months to 9 months 4.40%
- 9 months to 10 months 4.40%
- 10 months to 11 months 4.40%
- 11 months to 11 months 25 days 4.40%
- 11 months 25 days to 1 year 4.40%
- 1 year to 1 year 5 days 5.10%
- 1 year 5 days to 1 year 11 days 5.15%
- 1 year 11 days to 1 year 25 days 5.10%
- 1 year 25 days to 13 months 5.10%
- 13 months to 14 months 5.10%
- 14 months to 15 months 5.10%
- 15 months to 16 months 5.20%
- 16 months to 17 months 5.20%
- 17 months to 18 months 5.20%
- 18 Months to 2 years 5.25%
- 2 years to 30 months 5.40%
- 30 months to 3 years 5.40%
- 3 years to 5 years 5.40%
- 5 years to 10 years 5.75%
IDFC First Bank current FD interest rates (amount below ₹2 crore) for the general public
Short-term FDs are available from seven days to one year, and long-term FDs are available from one to ten years at IDFC First Bank. For deposits with a term of 7 days to ten years, IDFC First Bank FD offers interest rates ranging from 2.75 percent per annum to 6 percent per annum. These prices will take effect on May 1, 2021.
- 7 to 14 days 2.75%
- 15 to 29 days 3.00%
- 30 to 45 days 3.50%
- 46 to 90 days 4.00%
- 91 to 180 days 4.50%
- 181 days to less than 1 year 5.25%
- 1 year to 2 years 5.50%
- 2 years 1 day to 3 years 5.75%
- 3 years 1 day to 5 years 6.00%
- 5 years 1 day to 10 years 5.75%
- 5 Years (Tax saver) 5.75%
Kotak Mahindra Bank current FD interest rates (amount below ₹2 crore) for the general public
On term deposits maturing in 7 days to 10 years, Kotak Mahindra Bank offers interest rates ranging from 2.5 percent to 5.30 percent. These prices will take effect on April 26, 2021.
- 7 – 14 Days 2.50%
- 15 – 30 Days 2.50%
- 31 – 45 Days 2.75%
- 46 – 90 Days 2.75%
- 91 – 120 Days 3.00%
- 121 – 179 days 3.25%
- 180 Days 4.40%
- 181 Days to 269 Days 4.40%
- 270 Days 4.40%
- 271 Days to 363 Days 4.40%
- 364 Days 4.40%
- 365 Days to 389 Days 4.50%
- 390 Days (12 months 25 days) 4.80%
- 391 Days – Less than 23 Months 4.80%
- 23 Months 5.00%
- 23 months 1 Day- less than 2 years 5.00%
- 2 years- less than 3 years 5.00%
- 3 years and above but less than 4 years 5.10%
- 4 years and above but less than 5 years 5.25%
- 5 years and above upto and inclusive of 10 years 5.30%
