The rate of interest on fixed deposits is determined by the principal amount invested and the tenure of the investment. FD interest rates of different banks vary according to the amount, tenure and type of depositor. So it is always important to compare the FD rates offered by different banks before investing.
Let’s take a look at the latest FD interest rates offered by Kotak Mahindra Bank, Bank of Baroda (BOB), SBI HDFC Bank and ICICI Bank.
Kotak Mahindra Latest FD Rates
Kotak Mahindra Bank has increased the FD rates of various tenors for amounts less than 2 crores. According to the Kotak Mahindra Bank website, the new rates are effective from April 12, 2022. After the latest hike, the bank is offering interest rates ranging from 2.50% to 5.60% on deposits maturing in 7 days to 10 years.
HDFC Bank Latest FD Rates
private lender HDFC bank has increased the interest rates on fixed deposits of less than 2 crore on certain tenures, as per the lender’s website. The new Fixed Deposit (FD) rates are effective from 6 April 2022. HDFC Bank offers an interest rate of 2.50 percent to 5.60 percent for the general public on deposits maturing in 7 days to ten years.
Bank Of Baroda Latest FD Rates
Bank of Baroda (BoB) has increased the interest rates on fixed deposits (FDs) from March 22 for short deposits from March 22. 2 crores. After this revision, Bank of Baroda’s latest FD interest rates range from 2.80 per cent to 5.55 per cent for maturities between 7 days to 10 years.
SBI Latest FD Interest Rates
SBI FD between 7 days to 10 years will give 2.9% to 5.5% to general customers. Senior citizens will get an additional 50 basis points (bps) on these deposits ranging from -3.4% to 6.30%. These rates are effective from 15 February 2022.
ICICI Bank Latest FD Interest Rates
ICICI Bank is offering an interest rate of 2.50% to 5.60% on deposits maturing in 7 days to 10 years. These rates are effective from 20 January 2022