HDFC Bank and Axis Bank have released their new fixed deposit or FD interest rates this month.Fixed deposit or FDs are usually for risk-averse investors.
If you need an assured return on your investment, you should invest your money in bank fixed deposits.
FD interest rates vary across banks and tenures.
FD interest rates are subject to change from time to time.
Private sector lenders HDFC Bank and Axis Bank have released their new fixed deposit or FD interest rates this month.
However, the largest lender of the country, State Bank of India (SBI) and private sector lender ICICI Bank have not revised their FD interest rates so far in October.Given below is a comparison of latest FD interest rates offered by SBI, HDFC Bank, ICICI Bank and Axis Bank:State Bank of IndiaThe following FD interest rates are applicable on deposits below Rs 1 crore as stated on sbi.co.in:TenorsRevised For Public w.e.f.
30.07.2018Revised for Senior Citizens w.e.f.
30.07.20187 days to 45 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to less than 1 year6.46.91 year to less than 2 year6.77.22 years to less than 3 years6.757.253 years to less than 5 years6.87.35 years and up to 10 years6.857.35(: SBI Returns On Money Deposit In Different Accounts Compared)HDFC BankThe following FD interest rates are for deposits below Rs 1 crore with effect from October 6, as stated on hdfcbank.com:Periodlt; 1 CroreInterest Rate (per annum)**Senior Citizen Rates (per annum)7 - 14 days3.50%4.00%15 - 29 days4.25%4.75%30 - 45 days5.75%6.25%46 - 60 days6.25%6.75%61 - 90 days6.25%6.75%91 days - 6 months6.25%6.75%6 mnths 1 day- 6 mnths 3 days6.75%7.25%6 mnths 4 days6.75%7.25%6 mnths 5 days- 9 mnths6.75%7.25%9 mnths 1 day- 9 mnths 3 days7.00%7.50%9 mnths 4 days7.00%7.50%9 months 5 days - 9 months 15 days7.00%7.50%9 months 16 days7.00%7.50%9 months 17 days < 1 Year7.00%7.50%1 Year7.25%7.75%1 year 1 day - 1 year 3 days7.25%7.75%1 year 4 days7.25%7.75%1 year 5 days - 1 Year 15 Days7.25%7.75%1 Year 16 days7.25%7.75%1 year 17 days - 2 Years7.25%7.75%2 years 1day - 2 Years 15 days7.10%7.60%2 Years 16 days7.10%7.60%2 years 17 days - 3 Years7.10%7.60%3 years 1 day - 5 years7.10%7.60%5 Years 1 Day - 8 Years6.00%6.50%8 Years 1 Day - 10 Years6.00%6.50%(: Zero Balance Savings Account: SBI Vs HDFC Bank Vs ICICI Bank)ICICI BankThe following FD interest rates are for deposits below Rs 1 crore as stated on icicibank.com:Tenure PeriodRate of Interest (% p.a.) w.e.f August 14, 2018GeneralSenior Citizen*7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days5.756.2561 days to 90 days66.591 days to 120 days66.5121 days to 184 days66.5185 days to 289 days6.57290 days to less than 1 year6.757.251 year to 389 days6.757.25390 days to 2 years77.52 years 1 day upto 5 years7.257.755 years 1 day upto 10 years77.55 Years Tax saver FD(Max upto Rs.
1.50 lac)7.257.75Axis BankThe following FD interest rates on deposits below Rs 1 crore are with effect from October 1, according to axisbank.comPERIODINTEREST RATES (% P.A.)GENERALSENIOR CITIZENS7 days to 14 days3.53.515 days to 29 days3.53.530 days to 45 days5.55.546 days to 60 days6.256.2561 days < 3 months6.256.253 months < 4 months6.256.254 months < 5 months6.256.255 months < 6 months6.256.256 months < 7 months6.7577 months < 8 months6.7578 months < 9 months6.7579 months < 10 months77.2510 months < 11 months77.2511 months < 1 year77.251 year < 1 year 5 days7.257.91 year 5 days < 1 year 11 days7.58.151 year 11 days < 13 months7.257.913 months < 14 months7.37.9514 months < 15 months7.257.915 months < 16 months7.257.916 months < 17 months7.257.917 months < 18 months7.558.218 Months < 2 years7.257.92 years < 30 months7.257.930 months < 3 years7.257.753 years < 5 years7.257.755 years to 10 years77.5India Post also revised its FD interest rates with effect from October 1.