ICICI Bank hikes fixed deposit (FD) rates. How they compare with Kotak Mahindra, HDFC Bank, SBI

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ICICI Bank has hiked interest rates on select tenures. After the latest hike, ICICI Bank is offering an interest rate ranging from 3% to 7.2% on FDs maturing in seven days to ten years to general customers, and 3.5% to 7.75% to senior citizens. For a term of 15 months to two years, ICICI Bank gives a maximum return of 7.20% to the general public and 7.75% to senior citizens. The rates are effective from 17 February. Earlier the bank had revised the interest rate on term deposits on 16 October 2023.

7 days to 14 days 3.00%

15 days to 29 days 3.00%

30 days to 45 days 3.50%

46 days to 60 days 4.25%

61 days to 90 days 4.50%

91 days to 120 days 4.75%

121 days to 150 days 4.75%

151 days to 184 days 4.75%

185 days to 210 days 5.75%

211 days to 270 days 5.75%

271 days to 289 days 6.00%

290 days to less than 1 year 6.00%

1 year to 389 days 6.70%

390 days to < 15 months 6.70%

15 months to < 18 months 7.20%

18 months to 2 years 7.20%

2 years 1 day to 3 years 7.00%

3 years 1 day to 5 years 7.00%

5 years 1 day to 10 years 6.90%

5 Years (80C FD) – Max to `1.50 lac 7.00%

HDFC Bank has hiked its interest rates on fixed deposits (FDs). The new rates will come into effect from Feb 9. Currently, HDFC Bank offers interest rates ranging from 3% p.a. to 7.25% p.a. Senior citizens are entitled to an additional interest rate of 0.50% across all tenures.

SBI offers FD interest rates of 3.50%-7.10% p.a. to the general public and 4.00%-7.60% p.a. to senior citizens for tenures ranging from 7 days to 10 years. These rates are with effect from 27 December 2023

Kotak Mahindra Bank offers an interest rate of 2.75% to 7.25% on FDs maturing in seven days to ten years. The bank is offering the highest FD interest rate on deposits maturing in 23 months 1