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ICICI Bank vs HDFC Bank vs SBI; Check Comparison of Latest Interest Rates

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Even as the RBI has raised interest rates multiple times in the past few months to control inflation, banks are also increasing interest rates on their loan and deposit offerings. Several banks, including HDFC Bank, SBI and ICICI Bank, have also raised their interest rates on fixed deposits.

Here’s the comparison of the current fixed deposit (FD) interest rates offered by three lenders ICICI Bank, SBI and HDFC Bank on deposits below Rs 2 crore:

Latest FD rates below Rs 2 crore at HDFC Bank (effective December 14, 2022):

7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

15 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

46 days to 60 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

61 days to 89 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

90 days to less than equal to 6 months: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

6 months 1 day to less than 9 months: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent

9 months 1 day to less than 1 year: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent

1 Year to less than 15 months: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent

15 months to less than 18 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

18 months 1 day to less than 21 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

21 months to 2 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

2 years 1 day to 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

3 years 1 day to 5 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

5 years 1 day to 10 years: For General Public – 7.00 per cent; For Senior Citizens – 7.75 per cent.

Latest FD rates below Rs 2 crore at ICICI Bank (effective December 16, 2022):

7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

15 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

46 days to 60 days: For General Public – 4.00 per cent; For Senior Citizens – 4.50 per cent

61 days to 90 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

91 days to 120 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent

121 days to 150 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent

151 days to 184 days: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent

185 days to 210 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent

211 days to 270 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent

271 days to 289 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent

290 days to less than 1 year: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent

1 year to 389 days: For General Public – 6.60 per cent; For Senior Citizens – 7.10 per cent

390 days to less than 15 months: For General Public – 6.60 per cent; For Senior Citizens – 7.10 per cent

15 months to less than 18 months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

18 months to 2 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

2 years 1 day to 3 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

3 years 1 day to 5 years: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

5 years 1 day to 10 years: For General Public – 6.90 per cent; For Senior Citizens – 7.50 per cent.

Latest FD rates below Rs 2 crore at SBI (effective December 13, 2022):

7 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

46 days to 179 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

180 days to 210 days: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent

211 days to less than 1 year: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent

1 year to less than 2 years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent

2 years to less than 3 years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent

3 years to less than 5 years: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent

5 years to up to 10 years: For General Public – 6.25 per cent; For Senior Citizens – 7.25 per cent (including additional premium of 50 bps under SBI Wecare deposit scheme).

According to SBI website, “A special ‘SBI Wecare’ Deposit for Senior Citizens in the Retail TD segment wherein an additional premium of 50 bps over & above the existing 50 bps i.e. 100 bps over card rate for public (as indicated in the above table) will be paid to Senior Citizens on their retail TD for ‘5 Years and above’ tenor only. ‘SBI Wecare’ deposit scheme stands extended up to 31st March 2023.”

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