SBI vs HDFC Bank vs ICICI Bank: If you are planning to invest money in fixed deposits (FD), then first know which FD you are getting the best interest. Recently, the Reserve Bank of India (RBI) has cut the repo rate by 0.50%, now many big banks have changed their FD and loan interest rates. These include State Bank of India (SBI), HDFC Bank and ICICI Bank, the three largest banks of the country. These three banks have cut their interest rates, but even now in some tenure these banks are giving better returns from each other. Let’s know where you are getting more benefit.
Who is paying more interest in 6 months FD?
If you want to FD for less than 6 months, then SBI is ahead in this race. SBI is paying up to 5.80% interest here, while ICICI and HDFC bank are slightly behind it. HDFC Bank is paying interest of up to 5.75%, while the rate of ICICI Bank is slightly lower.
Who is paying more interest in FD of 1 to 2 years?
The interest rate of the three banks in this range is almost the same. SBI is paying interest from 6.25% to 6.45%, while HDFC Bank is giving returns from 6.25% to 6.60%. At the same time, ICICI Bank is also offering a return between 6.25% to 6.50%. If you are doing FD between 18 months to 2 years, then ICICI Bank is giving a little better return.
Who is paying more interest in FD of 2 to 10 years?
ICICI Bank can prove to be the most profitable for those who fd long periods. ICICI Bank is paying interest up to 6.60% on FD of 2 to 10 years, while HDFC Bank is offering interest up to 6.40% and SBI 6.30%.
Who is paying more interest to senior citizens?
All banks have kept separate interest rates for senior citizens i.e. 60 years old. ICICI and HDFC Banks are the best in this case. Both banks are paying up to 7.10% interest in select tenure. At the same time, the maximum return of SBI is 7.05%, which is available under SBI We Care Scheme.
SBI’s new interest rates (applicable from 15 June 2025)
7-45 days: 3.05% (3.55% to Senior Citizen)
46-179 days: 5.05% (5.55% to Senior Citizen)
180-210 days: 5.80% (6.30% to Senior Citizen)
1-2 years: 6.25% (6.75% to Senior Citizen)
2-3 years: 6.45% (6.95% to Senior Citizen)
5-10 years: 6.05% (7.05% to Senior Citizen)
HDFC Bank’s new interest rates (applicable from 10 June 2025)
7-14 days: 2.75% (3.25% to Senior Citizen)
6 months: up to 5.50% (6.00% to Senior Citizen)
1-2 years: 6.25% to 6.60%
2-5 years: 6.45% to 6.40%
5-10 years: 6.15% (6.65% to Senior Citizen)
The highest interest (7.10%) at 15-21 months FD
ICICI Bank’s interest rates (applicable from 18 June 2025)
7-45 days: 3.00% (3.50% to Senior Citizen)
Up to 6 months: 5.75% (6.25% to Senior Citizen)
1-2 years: 6.25% to 6.50%
2-5 years: 6.60% (7.10% to Senior Citizen)
5 years Tax Saving FD: 6.60% (7.10% to Senior Citizen)
The impact of RBI’s decision appeared on FD’s interest
This time the Reserve Bank has reduced the repo rate by 50 basis points to 5.50%, which is reducing the interest rates on FD and loan. Along with this, CRR has also been reduced to 3%. Its direct effect will be that more cash will come in the banking system and the EMI of the loan can be cheaper. But on the other hand, interest on FD may be slightly lower.
Namo Bharat train missed goods? Do not worry, you will get laptop and mobile immediately