Getty ImagesSeveral banks including SBI, HDFC Bank, PNB, and YES Bank have recently hiked the interest rates of their fixed deposits (FDs). The revised interest rates will be applicable for amounts below Rs 2 crore
Compare the latest FD interest rates offered by SBI, HDFC Bank, PNB, and YES Bank after the recent hike (Source: Banks’ websites; Interest rates for FDs below Rs 2 crore.)
State Bank of India (SBI) FD interest rates
The State Bank of India (SBI) raised interest rates on select fixed deposits (FDs) by up to 25 basis points(bps) on February 15, 2023. The interest rates offered can go up to 7% for tenures ranging from 7 days to 10 years. Senior citizens can earn up to 7.5% on SBI fixed deposits.
Also read: Latest Bank Fixed Deposit (FD) Interest Rates in India for 2023
The public sector bank also introduced a specific scheme with a "400 days" tenure with an interest rate of 7.10% for regular citizens and 7.60% for senior citizens. This scheme has been effective from February 15, 2023. Depositors can invest in this special scheme till 31-Mar-2023.
HDFC Bank fixed deposit interest rates
HDFC Bank offers interest rates ranging from 3% to 7.10% for the general public and 3.50% to 7.60% (excluding Senior Citizen Care FD) for senior citizens for tenures between 7 days and 10 years. The new rates are effective from February 21, 2023.
YES Bank FD interest rates
YES Bank raised the interest rate on certain fixed deposit (FD) tenures by 25 to 50 basis points (bps) on February 21, 2023. After the latest revision, the bank offers interest rates between 3.25% and 7.50% for regular citizens for tenure ranging from 7 days to 10 years. The bank offers the highest interest rate of 7.75% for FDs maturing in 35 months to regular citizens. For senior citizens, interest can go up to 8.25% for the same tenure.
PNB FD interest rates
Punjab National Bank (PNB) increased interest rates of select fixed deposits (FDs) tenures by up to 30 basis points (bps) on February 20, 2023. The highest interest rate offered by the bank to regular citizens is 7.25% on tenure of 666 days. The bank offers an interest rate of 7.75% for senior citizens for FDs and 8.05% for super senior citizens on tenure of 666 days. The increased interest rates on the FDs are effective from February 20, 2023, according to the PNB website.
Compare the latest FD interest rates offered by SBI, HDFC Bank, PNB, and YES Bank after the recent hike (Source: Banks’ websites; Interest rates for FDs below Rs 2 crore.)
State Bank of India (SBI) FD interest rates
The State Bank of India (SBI) raised interest rates on select fixed deposits (FDs) by up to 25 basis points(bps) on February 15, 2023. The interest rates offered can go up to 7% for tenures ranging from 7 days to 10 years. Senior citizens can earn up to 7.5% on SBI fixed deposits.
Also read: Latest Bank Fixed Deposit (FD) Interest Rates in India for 2023
The public sector bank also introduced a specific scheme with a "400 days" tenure with an interest rate of 7.10% for regular citizens and 7.60% for senior citizens. This scheme has been effective from February 15, 2023. Depositors can invest in this special scheme till 31-Mar-2023.
| General Public | Senior Citizens | |
| Tenors | Rates w.e.f. 15/02/2023 | Rates w.e.f. 15/02/2023 |
| 7 days to 45 days | 3 | 3.5 |
| 46 days to 179 days | 4.5 | 5 |
| 180 days to 210 days | 5.25 | 5.75 |
| 211 days to less than 1 year | 5.75 | 6.25 |
| 1 Year to less than 2 years | 6.8 | 7.3 |
| 2 years to less than 3 years | 7 | 7.5 |
| 3 years to less than 5 years | 6.5 | 7 |
| 5 years and up to 10 years | 6.5 | 7.50@ |
| 400 days (Special Scheme i.e. “ Amrit Kalash”) | 7.1 | 7.6 |
HDFC Bank fixed deposit interest rates
HDFC Bank offers interest rates ranging from 3% to 7.10% for the general public and 3.50% to 7.60% (excluding Senior Citizen Care FD) for senior citizens for tenures between 7 days and 10 years. The new rates are effective from February 21, 2023.
| Tenure | Interest Rate | Senior Citizen Rates |
| 7 - 14 days | 3.00% | 3.50% |
| 15 - 29 days | 3.00% | 3.50% |
| 30 - 45 days | 3.50% | 4.00% |
| 46 - 60 days | 4.50% | 5.00% |
| 61 - 89 days | 4.50% | 5.00% |
| 90 days < = 6 months | 4.50% | 5.00% |
| 6 mnths 1 days <= 9 mnths | 5.75% | 6.25% |
| 9 mnths 1 day to < 1 year | 6.00% | 6.50% |
| 1 year to < 15 months | 6.60% | 7.10% |
| 15 months to < 18 months | 7.10% | 7.60% |
| 18 months to < 21 months | 7.00% | 7.50% |
| 21 months - 2 years | 7.00% | 7.50% |
| 2 years 1 day - 3 years | 7.00% | 7.50% |
| 3 year 1 day to - 5 years | 7.00% | 7.50% |
| 5 year 1 day - 10 years | 7.00% | 7.75%* |
YES Bank FD interest rates
YES Bank raised the interest rate on certain fixed deposit (FD) tenures by 25 to 50 basis points (bps) on February 21, 2023. After the latest revision, the bank offers interest rates between 3.25% and 7.50% for regular citizens for tenure ranging from 7 days to 10 years. The bank offers the highest interest rate of 7.75% for FDs maturing in 35 months to regular citizens. For senior citizens, interest can go up to 8.25% for the same tenure.
| Tenure | Regular | Senior Citizens |
| Interest Rates | Interest Rates | |
| 7 days to 14 days | 3.25% | 3.75% |
| 15 days to 45 days | 3.70% | 4.20% |
| 46 days to 90 days | 4.10% | 4.60% |
| 91 days to 180 days | 4.75% | 5.25% |
| 181 days to 271 days | 6.00% | 6.50% |
| 272 days to < 1 year | 6.25% | 6.75% |
| 1 Year to < 15 months | 7.25% | 7.75% |
| 15 months to < 35 months | 7.50% | 8.00% |
| 35 months 1 day to < 36 months | 7.50% | 8.00% |
| 36 months to <= 120 months | 7.00% | 7.75% |
| Period | Effective from | Regular | Senior Citizens*** | ||
| Interest Rates | Annualised Yield^ | Interest Rates | Annualised Yield^ | ||
| FD - 35 | 12-Jan-23 | 7.75% | 7.98% | 8.25% | 8.51% |
| (Tenure : 35 months) | |||||
PNB FD interest rates
Punjab National Bank (PNB) increased interest rates of select fixed deposits (FDs) tenures by up to 30 basis points (bps) on February 20, 2023. The highest interest rate offered by the bank to regular citizens is 7.25% on tenure of 666 days. The bank offers an interest rate of 7.75% for senior citizens for FDs and 8.05% for super senior citizens on tenure of 666 days. The increased interest rates on the FDs are effective from February 20, 2023, according to the PNB website.
| Period | Rates For Public | Rates For Senior Citizens | Rates For Super Senior Citizens |
| 7 to 14 days | 3.5 | 4 | 4.3 |
| 15 to 29days | 3.5 | 4 | 4.3 |
| 30 to 45 days | 3.5 | 4 | 4.3 |
| 46 to 90 days | 4.5 | 5 | 5.3 |
| 91 to 179 days | 4.5 | 5 | 5.3 |
| 180 days to 270 Days | 5.5 | 6 | 6.3 |
| 271 days to less than 1 year | 5.8 | 6.3 | 6.6 |
| 1 year | 6.8 | 7.3 | 7.6 |
| above 1 year to 665 days | 6.8 | 7.3 | 7.6 |
| 666 days | 7.25 | 7.75 | 8.05 |
| 667 days to 2 years | 6.8 | 7.3 | 7.6 |
| above 2 year & upto 3 years | 7 | 7.5 | 7.8 |
| above 3 year & upto 5 years | 6.5 | 7 | 7.3 |
| above 5 years & upto 10 years | 6.5 | 7.3 | 7.3 |
( Originally published on Feb 23, 2023 )
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