As the RBI’s Monetary Policy Committee has been raising the key interest rates in the country, commercial banks are also following the suit. Recently, several banks, housing finance companies and other non-banking financial companies have hiked their loan interest rates. Those offering deposit facilities have also increased the rates, including on fixed deposits (FD).
Here’s the comparison of the current fixed deposit (FD) interest rates offered by three lenders State Bank of India (SBI), Indian Bank and Central Bank of India on deposits below Rs 2 crore:
SBI’s FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days to 45 days: For General Public – 2.90 per cent; For Senior Citizens – 3.40 per cent
46 days to 179 days: For General Public – 3.90 per cent; For Senior Citizens – 4.40 per cent
180 days to 210 days: For General Public – 4.55 per cent; For Senior Citizens – 5.05 per cent
211 Days to less than 1 year: For General Public – 4.60 per cent; For Senior Citizens – 5.10 per cent
1 year to less than 2 years: For General Public – 5.45 per cent; For Senior Citizens – 5.95 per cent
2 years to less than 3 years: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
3 years to less than 5 year: For General Public – 5.60 per cent; For Senior Citizens – 6.10 per cent
5 years to up to 10 years: For General Public – 5.65 per cent; For Senior Citizens – 6.15 per cent.
Indian Bank’s FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days to 14 days – For General Public: 2.80 per cent; For Senior Citizens: 3.30 per cent
15 days to 29 days – For General Public: 2.80 per cent; For Senior Citizens: 3.30 per cent
30 days to 45 days – For General Public: 3.00 per cent; For Senior Citizens: 3.50 per cent
46 days to 90 days – For General Public: 3.25 per cent; For Senior Citizens: 3.75 per cent
91 days to 120 days – For General Public: 3.50 per cent; For Senior Citizens: 4.00 per cent
121 days to 180 days – For General Public: 3.75 per cent; For Senior Citizens: 4.25 per cent
181 days to less than 9 months – For General Public: 4.00 per cent; For Senior Citizens: 4.50 per cent
9 months to less than 1 year – For General Public: 4.40 per cent; For Senior Citizens: 4.90 per cent
1 year – For General Public: 5.30 per cent; For Senior Citizens: 5.80 per cent
Above 1 year to less than 2 years – For General Public: 5.40 per cent; For Senior Citizens: 5.90 per cent
2 years to less than 3 years – For General Public: 5.50 per cent; For Senior Citizens: 6.00 per cent
3 years to less than 5 years – For General Public: 5.60 per cent; For Senior Citizens: 6.10 per cent
5 years – For General Public: 5.60 per cent; For Senior Citizens: 6.10 per cent
Above 5 years – For General Public: 5.60 per cent; For Senior Citizens: 6.10 per cent.
Central Bank of India’s FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days to 14 days – For General Public: 2.75 per cent
15 days to 30 days – For General Public: 2.90 per cent
31 days to 45 days – For General Public: 3.00 per cent
46 days to 59 days – For General Public: 3.35 per cent
60 days to 90 days – For General Public: 3.35 per cent
91 days to 179 days – For General Public: 3.85 per cent
180 days to 270 days – For General Public: 4.50 per cent
271 days to 364 days – For General Public: 4.50 per cent
1 year to less than 2 years – For General Public: 5.35 per cent
2 years to less than 3 years – For General Public: 5.40 per cent
3 years to less than 5 years – For General Public: 5.40 per cent
5 years and above to up to 10 years – For General Public: 5.60 per cent
555 days – For General Public: 5.60 per cent.
Central Bank of India also offers higher interest rates to senior citizens on fixed deposits.
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