Fixed Deposit Interest Rates: In order to control high inflation, the Reserve Bank of India’s (RBI) Monetary Policy Committee raised interest rates in an off-cycle monetary policy meeting last month. It is also expected to raise interest rates in the upcoming policy meeting during June 6-8. Amid this rate tightening environment, commercial banks are also following suit by raising their deposits and lending rates.
Several lenders, including ICICI Bank, Kotak Mahindra Bank, HDFC Bank and Punjab National Bank, recently increased their interest rates for both deposits as well as loans. Here’s the comparison of the current fixed deposit (FD) interest rates offered by three lenders Punjab National Bank (PNB), IDFC First Bank and HDFC Bank on deposits below Rs 2 crore:
Punjab National Bank’s FD Interest Rate (On Deposits Below Rs 2 Crore):
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 – 3.00 per cent; For Senior Citizens – 3.50 per cent
46 days to 90 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
91 days to 179 days: For General Public – 4.00 per cent; For Senior Citizens – 4.50 per cent
180 days to 270 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
271 days to less than 1 year: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
1 year: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
Above 1 year to 2 years: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
Above 2 Years to 3 Years: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
Above 3 years to 5 years: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent
Above 5 years to 10 years: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent.
IDFC First Bank’s FD Interest Rates (On Deposits Below Rs 2 Crore):
7 days to 14 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
15 days to 29 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
30 days to 45 days: For General Public – 4.00 per cent; For Senior Citizens – 4.50 per cent
46 days to 90 days: For General Public – 4.00 per cent; For Senior Citizens – 4.50 per cent
91 days to 180 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
181 days to less than 1 year: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
1 year-2 years: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
2 years 1 day-3 years: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
3 years 1 day-5 years: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent
5 years 1 day-10 years: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
HDFC Bank’s FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days to 14 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent
15 days to 29 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent
30 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
46 days to 60 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
61 days to 90 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
91 days to 120 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
6 months 1 days to 9 months: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent
9 months 1 day to less than a year: For General Public – 4.45 per cent; For Senior Citizens – 5.00 per cent
1 year: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
1 year 1 day to 2 years: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
2 years 1 day to 3 years: For General Public – 5.40 per cent; For Senior Citizens – 5.90 per cent
3 years 1 day to 5 years: For General Public – 5.60 per cent; For Senior Citizens – 6.10 per cent
5 years 1 day to 10 years: For General Public – 5.75 per cent; For Senior Citizens – 6.50 per cent.
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