The RBI MPC last week raised the key repo rate by 25 basis points to 6.50 per cent. As a result of this, the banks are likely to raise interest rates on both loans and deposits. The RBI has raised the repo rate six times by 250 basis points in total since May 2022, following which several banks, including SBI, PNB and ICICI Bank, have also raised their interest rates on fixed deposits as well as loans multiple times.
Here’s the comparison of the current fixed deposit (FD) interest rates offered by three lenders Axis Bank, PNB and ICICI Bank on deposits below Rs 2 crore:
Here are the revised interest rates on fixed deposits below Rs 2 crore at the Axis Bank from February 11, 2023:
7 days to 14 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
15 days to 29 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
30 days to 45 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
46 days to 60 days: 4.00 per cent for General Public; 4.00 per cent for Senior Citizens
61 days to less than 3 months: 4.50 per cent for General Public; 4.50 per cent for Senior Citizens
3 months to less than 4 months: 4.75 per cent for General Public; 4.75 per cent for Senior Citizens
4 months to less than 5 months: 4.75 per cent for General Public; 4.75 per cent for Senior Citizens
5 months to less than 6 months: 4.75 per cent for General Public; 4.75 per cent for Senior Citizens
6 months to less than 7 months: 5.75 per cent for General Public; 6.00 per cent for Senior Citizens
7 months to less than 8 months: 5.75 per cent for General Public; 6.00 per cent for Senior Citizens
8 months to less than 9 months: 5.75 per cent for General Public; 6.00 per cent for Senior Citizens
9 months to less than 10 months: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
10 months to less than 11 months: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
11 months to less than 11 months 25 days: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
11 months 25 days to less than 1 year: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
1 year to less than 1 year 4 days: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
1 year 5 days to less than 1 year 11 days: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
1 year 11 days to less than 1 year 24 days: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
1 year 25 days to less than 13 months: 7.10 per cent for General Public; 7.85 per cent for Senior Citizens
13 months to less than 14 months: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
14 months to less than 15 months: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
15 months to less than 16 months: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
16 months to less than 17 months: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
17 months to less than 18 months: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
18 months to less than 2 years: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
2 years to less than 30 months: 7.26 per cent for General Public; 8.01 per cent for Senior Citizens
30 months to less than 3 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens
3 years to less than 5 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens
5 years to 10 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens.
Latest interest rates on fixed deposits below Rs 2 crore at the Punjab National Bank (per annum) effective from January 1, 2023:
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 – 3.50 per cent; For Senior Citizens – 4.00 per cent
46 days to 90 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
91 days to 179 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
180 days to 270 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
271 days to less than 1 year: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
1 year: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
Above 1 year to 665 days: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
666 days: For General Public – 7.25 per cent; For Senior Citizens – 7.75 per cent
667 days to 2 Years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
Above 2 years up to 3 years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
Above 3 years up to 5 years: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
Above 5 years to 10 years: For General Public – 6.50 per cent; For Senior Citizens – 7.30 per cent.
Here are the latest interest rates on fixed deposits 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.
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