Which financial institution has highest FD rate of interest for senior residents?
2 min readFixed deposits (FD) are sometimes most well-liked funding choices for senior residents. All the highest lenders together with the State Bank of India (SBI), ICICI Bank, HDFC Bank, Yes Bank, Kotak Mahindra Bank and others give 50 foundation factors (bps) curiosity to senior residents over and above the final clients. The Reserve Bank of India (RBI) has raised the repo fee by 225 bps since May 2022. As a consequence, the rates of interest on time period deposits have gone up in the previous couple of months.
Let’s take a comparative take a look at the rates of interest supplied by SBI, HDFC Bank, ICICI Bank, Yes Bank and Kotak Mahindra Bank.
SBI gives 7.25% rate of interest on senior citizen FDs
SBI gives senior residents’ an extra 50 bps rate of interest throughout all tenors. After the most recent revision, senior residents will get 3.5% to 7.25% on FDs maturing in 7 days to 10 years. There charges are efficient from 13 December 2022.
1 yr to lower than 2 years – 7.25%
2 years to lower than 3 years -7.25%
5 years and as much as 10 years -7.25%@
HDFC Bank gives 7.5% curiosity on senior citizen FDs
Senior residents will get an rate of interest starting from 3.5 to 7.75%* on FDs maturing in 7 days to 10 years. These charges are efficient from 14 December 2022.
1 yr to < 15 months 7.00%
15 months to < 18 months 7.50%
18 months to < 21 months 7.00%
21 months – 2 years 7.50%
2 years 1 day – 3 years 7.50%
3 yr 1 day to – 5 years 7.50%
5 yr 1 day – 10 years 7.75%*
ICICI Bank gives 7.5% curiosity on senior citizen FDs
Senior residents will get an rate of interest starting from 3.5 to 7.50%* on FDs maturing in 7 days to 10 years. These charges are efficient from 16 December 2022.
1 yr to 389 days 7.10%
390 days to < 15 months 7.10%
15 months to < 18 months 7.50%
18 months to 2 years 7.50%
2 years 1 day to three years 7.50%
3 years 1 day to five years 7.50%
5 years 1 day to 10 years #7.50%
5 Years (80C FD) – Max to ₹1.50 lac 7.50%
Yes Bank gives 7.5% curiosity on senior citizen FDs
Senior residents will get an rate of interest starting from 3.75% to 7.50% on FDs maturing in 7 days to 10 years. These charges are efficient from 9 December 2022.
1 Year to < 20 months 7.50%
22 months 1 day to < 30 months 7.50%
30 months 1 day to < 36 months 7.50%
36 months to <= 120 months 7.50%
Kotak Mahindra gives 7.5% curiosity on senior citizen FDs
Senior residents will get an rate of interest starting from 3.25% to 7.50% on FDs maturing in 7 days to 10 years. These charges are efficient from 15 December 2022.
365 Days to 389 Days 7.25%
390 Days (12 months 25 days) 7.5%
391 Days – Less than 23 Months 7.5%
23 Months 7.5%
23 months 1 Day- lower than 2 years 7%
Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.
More
Less
Topics
