Latest Fixed Deposit Interest Rates Comparison: SBI, Yes Bank, HDFC Bank, ICICI Bank, PNB, Canara Bank, and Axis Bank

As the Reserve Bank of India (RBI) is unlikely to cut interest rates in the near future, many investors are turning to fixed deposits to capitalize on the high FD rates being offered by various banks. Recently, Yes Bank and SBI updated their FD interest rates, prompting a comparison of the latest rates offered by major banks like HDFC Bank, ICICI Bank, PNB, and Canara Bank.

SBI has increased its FD interest rates by 75 basis points for deposits maturing between 46 days and 179 days, offering rates of 5.50% for general customers and 6% for senior citizens. For tenures of 180 days to 210 days, the rate for general customers has been raised to 6%. Yes Bank now offers rates ranging from 3.25% to 8% for regular customers and 3.75% to 8.50% for senior citizens, with the highest rates applying to an 18-month tenure.

ICICI Bank provides interest rates between 3% to 7.20% for general citizens and 3.50% to 7.75% for senior citizens, with the highest rates available for tenures of 15 months to less than 2 years. HDFC Bank offers rates ranging from 3.5% to 7.25% for general citizens and 3.5% to 7.75% for senior citizens, with an increased rate of 7.25% for tenures of 18 months to less than 21 months.

Canara Bank provides interest rates ranging from 4% to 7.25% for general citizens and 4% to 7.75% for senior citizens, with the highest rate of 7.25% offered for a tenure of 444 days. Punjab National Bank (PNB) offers rates between 3.5% to 7.25% for general citizens, with the highest rate of 7.25% available for a tenure of 400 days.

With these updated FD rates, investors have a variety of options to choose from based on their investment goals and risk appetite. It is important for investors to carefully consider the terms and conditions of each bank before making a decision to maximize their returns.