Fixed deposit rates have diverged into a two-tier market, with small finance banks offering upwards of 8 per cent and large public-sector lenders clustered at 6-6.6 per cent, according to data from Stable Money.
Public-sector banks
Bank of Baroda and State Bank of India top at 6.45 per cent for around 444 days
Punjab National Bank and Bank of India offer up to 6.6 per cent on similar tenures
Across longer tenures (3–10 years), rates largely stay between 6 per cent and 6.3 per cent
Private banks
Axis Bank and HDFC Bank offer around 6.45-6.5 per cent on three- to five-year deposits
ICICI Bank goes up to 6.5 per cent for 5 years
Mid-tier lenders such as IndusInd Bank and RBL Bank offer up to 7–7.2 per cent.
Small finance banks lead the rate cycle
The highest FD rates are concentrated among small finance banks:
Suryoday Small Finance Bank offers up to 8.10 per cent for 2.5 years
Jana Small Finance Bank offers up to 7.77 per cent for five years
Shivalik Small Finance Bank offers 7.80 per cent on special tenures.
NBFCs also remain competitive
Non-banking finance companies (NBFCs) are positioned between private banks and small finance banks:
Shriram Finance offers up to 7.65 per cent for 3 years
Bajaj Finance offers around 6.95 per cent for similar tenures
Latest FD rate list
|
|
Regular Rates |
Regular Citizen Rates |
||||||
|
Bank Name |
Special rate |
Special Tenure |
Reg Highest Rate (%) |
Reg Highest Rate Tenure |
Reg 1Y (%) |
Reg 3Y (%) |
Reg 5Y (%) |
Reg 10Y (%) |
|
Bank of Baroda |
|
|
6.45 |
444D |
6.1 |
6.25 |
6.3 |
6 |
|
Bank of India |
|
|
6.6 |
450D |
6.25 |
6.25 |
6 |
6 |
|
PNB |
|
|
6.6 |
444D |
6.25 |
6.3 |
6.1 |
6 |
|
SBI |
|
|
6.45 |
444D |
6.25 |
6.3 |
6.05 |
6.05 |
|
Axis Bank |
|
|
6.45 |
3Y |
6.25 |
6.45 |
6.45 |
6.45 |
|
Bandhan Bank |
|
|
7.25 |
3Y |
7 |
7.25 |
5.85 |
5.85 |
|
FEDERAL BANK LTD. |
|
|
6.75 |
3Y |
6.25 |
6.75 |
6.4 |
6.4 |
|
HDFC Bank |
|
|
6.5 |
3Y1D-4Y7M |
6.25 |
6.45 |
6.4 |
6.15 |
|
ICICI Bank |
|
|
6.5 |
5Y |
6.25 |
6.45 |
6.5 |
6.5 |
|
IDFC First Bank |
|
|
7.25 |
3Y |
6.5 |
7.25 |
7.15 |
6 |
|
IndusInd Bank |
|
|
7 |
1Y 6M |
6.75 |
6.9 |
6.65 |
6.5 |
|
Kotak Mahindra Bank |
|
|
6.8 |
2Y |
6.5 |
6.4 |
6.25 |
6.25 |
|
RBL Bank |
|
|
7.2 |
3Y |
7 |
7.2 |
6.7 |
6.7 |
|
South Indian Bank |
|
|
6.8 |
2Y |
6.25 |
6.2 |
5.7 |
5.7 |
|
Yes Bank |
|
|
7 |
3Y |
6.65 |
7 |
6.75 |
6.75 |
|
AU SF Bank |
|
|
7.1 |
3Y |
6.35 |
7.1 |
6.75 |
6.75 |
|
Jana SF Bank |
|
|
7.77 |
5Y |
7 |
7.5 |
7.77 |
6.5 |
|
Shivalik SF Bank |
7.80% |
1Y10M |
|
|
6 |
6.75 |
6.25 |
6.25 |
|
Suryoday SF Bank |
8.10% |
2Y6M |
|
|
7.25 |
7.25 |
7.9 |
7.25 |
|
Ujjivan SF Bank |
7.45% |
2Y |
|
|
7.25 |
7.25 |
7.2 |
6.5 |
|
Unity SF Bank |
7.5% |
1Y |
|
|
7.25 |
6.75 |
6.75 |
6 |
|
Utkarsh SF Bank |
7.50% |
3Y |
|
|
7.25 |
7.5 |
7 |
6.75 |
|
slice SF Bank |
7.75% |
1Y6M1D |
|
|
6.25 |
7.5 |
7 |
6.5 |
|
Bajaj Finance |
6.95% |
3Y |
|
|
6.6 |
6.95 |
6.95 |
NA |
|
Shriram Finance |
7.65% |
3Y |
|
|
7 |
7.6 |
7.6 |
NA |
“Small finance banks and select private banks are offering relatively higher rates, particularly in short- to medium-term tenures, while traditional banks remain stable. For investors, the key is to balance returns with safety, with deposits insured up to Rs 5 lakh,” said Saurabh Jain, cofounder and chief executive officer of Stable Money.
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