The Fixed Deposit interest rates have increased slightly in recent times. India Post is presently offering 7.4% as the rate of interest for term deposits of 5 years. For 1 year and 2 year term deposits, the rates of interest are 6.6% and 6.7% respectively. The rate of interest is 6.9% in case of 3 year FDs.
SBI is offering 6.85% on FDs between 5-10 years while the rate stands at 7.23% for senior citizens. The rates are 7.25% at PNB on deposits for 1-3 years. The FD rate is 7.45% for Axis Bank for deposits ranging from 17-18 months. HDFC Bank is offering 7.25% as the rate of interest on deposits between 1-2 years and this is 7.75% for senior citizens. Rates stand at 7.25% for ICICI Bank on deposits for 2 years and one day to 5 years. The rates are 7.75% for the same tenor in case of senior citizens.
AU Small Finance Bank offers 8% for term deposits between 45-60 months and senior citizens get interest of 8.5% for the same tenor. Jana Bank offers 8.5% on FDs for deposits of 366 days. Equitas Small Finance Bank is offering 8% on FDs between 1 year and 18 months. Deutsche Bank is offering interest rates of 8.25% for both general and senior citizens on term deposits of 5 years while IDFC Bank offers 8% as the rate of interest for FDs spanning 731 days and 8.25% for deposits between 2-3 years, 5-8 years and 8-10 years. The rates of interest at IDFC Bank stand at 8.25% in case of tax saving FDs.