Comparison of Latest Fixed Deposit Interest Rates from HDFC Bank, SBI, ICICI Bank, PNB, and Axis Bank
Many leading banks have recently increased their fixed deposit interest rates on various tenures, presenting you with lucrative investment options. Let’s explore the latest offerings from HDFC Bank, SBI, ICICI Bank, PNB, and Axis Bank to help you make an informed decision about where to invest.
HDFC Bank
– After a recent rate hike, HDFC Bank now provides an interest rate of 7.40% for general citizens and 7.90% for senior citizens on a tenure of 4 Year 7 Months – 55 months, effective from July 24, 2024.
State Bank of India (SBI)
– SBI offers the highest interest rate of 7.25% for general citizens and 7.75% for senior citizens on the newly launched SBI Amrit Vrishti scheme for a 444-day tenure. This scheme is available for investments from July 15, 2024, until March 31, 2025.
ICICI Bank
– ICICI Bank offers an interest rate of 7.20% for general citizens and 7.75% for senior citizens on a tenure of 15 months to less than 18 months, effective from July 25, 2024.
Axis Bank
– Axis Bank provides an interest rate of 7.20% for general citizens on a tenure of 17 months to less than 18 months and 7.75% for senior citizens on a tenure of 5 years to 10 years, effective from July 1, 2024.
PNB
– Punjab National Bank (PNB) offers an interest rate of 7.25% for general citizens and 7.75% for senior citizens on a tenure of 400 days. The revised rates came into effect from June 10, 2024.
Bank of Baroda
– Bank of Baroda offers an interest rate of 7.25% for general citizens and 7.75% for senior citizens on a special deposit scheme of 399 days known as the bob Monsoon Dhamaka Deposit Scheme, applicable from July 15, 2024.
| Bank name | Highest interest rate for general | Highest interest rate for senior citizens | Tenure |
| HDFC Bank | 7.40% | 7.90% | 4 Year 7 Months – 55 months |
| ICICI Bank | 7.20% | 7.75% | 15 months to less than 18 months |
| SBI Amrit Vrishti | 7.25% | 7.75% | 444 days |
| bob Monsoon Dhamaka Deposit Scheme | 7.25% | 7.75% | 399 Days |
| PNB | 7.25% | 7.75% | 400 days |
| Axis Bank | 7.20%
—————- |
—————-
7.75% |
17 months >18 months
5 years to 10 years |
Hot Take: Choose Wisely for Maximum Returns
When considering where to invest your money, comparing interest rates offered by different banks can help you maximize your returns. Evaluate the tenure and interest rates provided by HDFC Bank, SBI, ICICI Bank, PNB, and Axis Bank to make an informed decision that aligns with your financial goals.
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