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SBI, HDFC Bank, ICICI Bank, Small Finance Banks Annual Return Compared


Bank FD interest rate: Banks today pay annual returns up to 9.5 per cent on fixed deposits.

Many banks currently pay interest rates up to 9.5 per cent on term deposits – or fixed deposits (FDs) – up to Rs 1 crore. While major commercial banks pay interest rates in the range of 4-7.75 per cent to customers on FDs, small finance banks offer those between 3.5 per cent and 9.5 per cent. On fixed deposits up to Rs 1 crore, many lenders – from major commercial banks such as State Bank of India and HDFC Bank to small finance banks such as Equitas Small Finance Bank and AU Small Finance Bank – provide slightly better returns to senior citizen customers compared to the general public.

Here’s a comparison of interest rates paid by some small finance banks and large commercial banks on fixed deposits of up to Rs 1 crore:

SBI

Maturity period (term) Interest rate with effect from July 30, 2018
General public Senior citizen
7 days to 45 days 5.75 6.25
46 days to 179 days 6.25 6.75
180 days to 210 days 6.35 6.85
211 days to less than 1 year 6.4 6.9
1 year to less than 2 year 6.7 7.2
2 years to less than 3 years 6.75 7.25
3 years to less than 5 years 6.8 7.3
5 years and up to 10 years 6.85 7.35
(Source: sbi.co.in)

ICICI Bank

Maturity period (term) Interest rate with effect from August 14, 2018
General public Senior citizen
7 days to 14 days 4 4.5
15 days to 29 days 4.25 4.75
30 days to 45 days 5.5 6
46 days to 60 days 5.75 6.25
61 days to 90 days 6 6.5
91 days to 120 days 6 6.5
121 days to 184 days 6 6.5
185 days to 289 days 6.5 7
290 days to less than 1 year 6.75 7.25
1 year to 389 days 6.75 7.25
390 days to 2 years 7 7.5
2 years 1 day up to 5 years 7.25 7.75
5 years 1 day up to 10 years 7 7.5
5 Years Tax saver FD (Max up to Rs. 1.50 lac) 7.25 7.75
(Source: icicibank.com)

HDFC Bank

Maturity period (term) Interest rate with effect from October 6, 2018
General public Senior citizen
7 – 14 days 3.50% 4.00%
15 – 29 days 4.25% 4.75%
30 – 45 days 5.75% 6.25%
46 – 60 days 6.25% 6.75%
61 – 90 days 6.25% 6.75%
91 days – 6 months 6.25% 6.75%
6 months 1 day- 6 months 3 days 6.75% 7.25%
6 months 4 days 6.75% 7.25%
6 months 5 days- 9 months 6.75% 7.25%
9 months 1 day- 9 months 3 days 7.00% 7.50%
9 months 4 days 7.00% 7.50%
9 months 5 days – 9 months 15 days 7.00% 7.50%
9 months 16 days 7.00% 7.50%
9 months 17 days < 1 Year 7.00% 7.50%
1 Year 7.25% 7.75%
1 year 1 day – 1 year 3 days 7.25% 7.75%
1 year 4 days 7.25% 7.75%
1 year 5 days – 1 Year 15 Days 7.25% 7.75%
1 Year 16 days 7.25% 7.75%
1 year 17 days – 2 Years 7.25% 7.75%
2 years 1 day – 2 Years 15 days 7.10% 7.60%
2 Years 16 days 7.10% 7.60%
2 years 17 days – 3 Years 7.10% 7.60%
3 years 1 day – 5 years 7.10% 7.60%
5 Years 1 Day – 8 Years 6.00% 6.50%
8 Years 1 Day – 10 Years 6.00% 6.50%
(Source: hdfcbank.com)    

Equitas Small Finance Bank

Maturity period (term) Interest rate with effect from July 5, 2018
7 – 14 days  5.00%
15 – 29 days  5.50%
30 – 45 days  6.00%
46 – 62 days  6.25%
63 – 90 days  6.25%
91 – 120 days  6.50%
121 – 180 days  6.50%
181 – 210 days  6.75%
211 – 270 days  6.75%
271 – 364 days  7.50%
1 year to 18 months  8.00%
18 months 1 day to 2 years  7.75%
2 years 1 day to 3 years  7.75%
3 years 1 day to 4 years  7.00%
4 years 1 day to 5 years  7.00%
5 years 1 day to 10 years  7.00%
(Source: equitasbank.com)  

AU Small Finance Bank

Maturity period (term) Interest rate with effect from October 10, 2018
  General Senior citizen
7 Days to 1 Month 15 Days 5.50% 6.00%
1 Month 16 Days to 3 Months 6.75% 7.25%
3 Months 1 Day to 6 Months 6.90% 7.40%
6 Months 1 Day  to 13 Months 7.00% 7.50%
13 Months 1 Day to 18 Months 8.25% 8.75%
18 Months 1 Day to 24 Months 8.50% 9.00%
24 Months 1 Day to 36 Months 7.75% 8.25%
36 Months 1 Day to 45 Months 7.75% 8.25%
45 Months 1 Day to 60 Months 8.00% 8.50%
60 Months 1 Day to 120 Months 7.25% 7.75%
(Source: aubank.in)    

Suryoday Bank

Maturity period (term) Interest rate with effect from September 29, 2018
  General Senior citizen
7 days to 14 days 4.00% 4.50%
15 days to 45 days 4.00% 4.50%
46 days to 90 days 5.00% 5.50%
91 days to 180 days 5.50% 6.00%
181 days to 240 days 7.50% 8.00%
241 days to less than 1 Year 7.75% 8.25%
1 Year to 2 Years 8.50% 9.00%
Above 2 Years to 3 Years 8.75% 9.25%
950 Days* 9.00% 9.50%
Above 3 Years to less than 5 Years 8.00% 8.50%
5 Years 8.25% 8.75%
Above 5 Years to 10 Years 7.25% 7.75%
Source: suryodaybank.com)

Jana Small Finance Bank

Maturity period (term) Interest rate with effect from October 17, 2018
7 days to 45 days 6.00%
46 days to 60 days 6.50%
61 days to 180 days 7.00%
181 days to 365 days 8.00%
More than 1 year up to 2 years 8.25%
More than 2 years up to 3 years 8.50%
More than 3 years up to 5 years 8.00%
More than 5 years up to 10 years 7.00%
(Source: janabank.com)

Fincare Small Finance Bank

Maturity period (term) Interest rate
  General Senior citizen
7 days to 45 days 4.00% 4.50%
46 days to 90 days 4.00% 4.50%
91 days to 180 days 6.00% 6.50%
181 days to 364 days 7.00% 7.50%
12 months to 15 months 8.00% 8.50%
15 months 1 day to 18 months 8.25% 8.75%
18 months 1 day to 21 months 8.50% 9.00%
21 months 1 day to 24 months 8.75% 9.25%
24 months 1 day to 36 months 9.00% 9.50%
3 years 1 day to 5 years 8.00% 8.50%
5 years 1 day to 7 years 7% 7.50%
(Source: fincarebank.com)

ESAF Small Finance Bank

Maturity period (term) Interest rate with effect from April 1, 2018
  General Senior citizen
7 – 14 days 5.75% 6.25%
15 – 59 days 5.75% 6.25%
60 – 90 days 6.50% 7.00%
91 – 179 days 6.75% 7.25%
180 – 363 days 7.50% 8.00%
364 days 5.60% 6.10%
365 – 727 days 8.75% 9.25%
728 days 6.80% 7.30%
729 – 1091 days 8.00% 8.50%
1092 days 5.66% 6.16%
1093 – 1819 days 7.00% 7.50%
1820 days 5.65% 6.15%
1821 – 3652 days 7.00% 7.50%
(Source: esafbank.com)

Utkarsh Small Finance Bank

Maturity period (term) Interest rate with effect from September 27, 2018
  General Senior citizen
7 Days to 15 days  3.50% 4.00%
16 Days to 28 Days  3.50% 4.00%
29 Days to 45 Days  4.00% 4.50%
46 Days to 90 Days  4.50% 5.00%
91 Days to 120 Days  5.00% 5.50%
121 Days to 179 Days  5.50% 6.00%
180 Days to 210 Days  6.00% 6.50%
211 Days to 270 Days  7.00% 7.50%
271 Days to less than 1 Year  7.50% 8.00%
1 Year to 455 Days  8.50% 9.00%
456 Days to less than 2 years  9.00% 9.50%
2 Years to less than 3 Years  7.85% 8.35%
3 Years to less than 5 Years  7.00% 7.50%
5 Years  8.00% 8.50%
More than 5 Years to 10 Years  7.00% 7.50%
(Source: utkarsh.bank)

Therefore, small finance banks pay higher interest rates on FDs across several maturities compared to their larger counterparts.



Updated: October 30, 2018 — 6:08 am

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