Fixed deposit interest rates are rising after the Reserve Bank of India (RBI) increased the repo rates by 50 basis points in its monetary policy meet earlier this month. Many prominent banks have hiked their FD rates after the RBI repo rate hike announcement. Ease of investing guaranteed returns and high liquidity make fixed deposits a preferred saving option for many investors. Fixed deposit maturity tenures range from 7 days to 10 years. Interest rates for each tenure vary from bank to bank. Most banks offer preferential rates of up to 0.5% p.a. (0.75% in some cases) to senior citizen depositors.
So, if you’re looking to invest in FDs, here are the latest interest rates advertised by some of the prominent private banks in the country.
| Bank | <1year | 1 to 2years | 2 to 3years | 3 to 5years |
| Axis Bank | 4.75 | 5.75 | 5.7 | 5.75 |
| Bandhan Bank | 4.5 | 6.25 | 6.25 | 6.25 |
| Catholic Syrian | 4.25 | 5.5 | 5.75 | 5.75 |
| City Union Bank | 4.75 | 5.25 | 5 | 5 |
| DCB Bank | 5.7 | 6.5 | 6.6 | 6.6 |
| Dhanlaxmi Bank | 4.5 | 5.55 | 5.3 | 5.75 |
| Federal Bank | 4.75 | 5.75 | 5.75 | 5.75 |
| HDFC Bank | 4.65 | 5.35 | 5.5 | 5.7 |
| ICICI Bank | 4.6 | 5.3 | 5.5 | 5.7 |
| IDBI Bank | 4.5 | 5.25 | 5.6 | 5.75 |
| IDFC First Bank | 5.75 | 6.5 | 6.5 | 6.5 |
| IndusInd Bank | 5.5 | 6.5 | 6.5 | 6.5 |
| J & K Bank | 4.5 | 5.4 | 5.5 | 5.55 |
| Karnataka Bank | 5 | 5.25 | 5.4 | 5.4 |
| Kotak Bank | 5.25 | 5.75 | 5.9 | 5.9 |
| Karur Vysya Bank | 4.5 | 5.5 | 5.65 | 5.9 |
| RBL Bank | 5.25 | 6.5 | 6.5 | 6.3 |
| South Indian Bank | 4.75 | 5.3 | 5.5 | 5.8 |
| Tamilnad Mercantile Bank | 5 | 5.6 | 5.6 | 5.6 |
| TNSC Bank | 5.75 | 6 | 5.85 | 6 |
| Yes Bank | 5 | 6 | 6.25 | 6.25 |
Disclaimer: Data as on respective banks’ websites on June 17, 2022. All rates for normal FDs amounting to less than Rs.1 crore.
