ICICI Bank, SBI and HDFC Bank revise fixed deposit interest rates: Report

The ICICI bank, State Bank of India and HDFC bank have raised interest rates on fixed deposits.

Private money lender ICICI Bank has revised its in fixed deposit interest rates on the deposits less than ₹2 crore. As per the the bank's official website, the interest rates from 3.5 per cent to 7.10 per cent are being offered on the deposits which mature between seven days and ten years for general customers. These rates are now effective from February 24.

The bank is offering three per cent interest rate on the deposits maturing between seven days and 29 days. The interest on deposits maturing between 30 days and 45 days stands at 3.50 per cent.

ICICI Bank, Virar, at the time of the incident.

TIME PERIOD	ICICI BANK INTEREST RATES
7-14 DAYS	3%
15-29 DAYS	3%
30-45 DAYS	3.50%
46-60 DAYS	4.25%
61-90 DAYS	4.50%
91-120 DAYS	4.75%

Another private lender HDFC Bank has also increased interest rates on fixed deposits of less than ₹2 crore on select tenures. The bank is offering an interest rate of three per cent on deposits between seven and 29 days. The interest rate on deposits maturing between 30 and 45 days stands at 3.50 per cent. The bank is offering interest rate of 4.50 per cent for the deposits maturing between 46 days and 90 days. The new interest rates are applicable from February 21.

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TIME PERIOD	HDFC BANK INTEREST RATES
7-14 DAYS	3%
15-29 DAYS	3%
30-45 DAYS	3.50%
46-60 DAYS	4.50%
61-89 DAYS	4.50%

The State Bank of India has also increased its interest rates on fixed deposits maturing between seven days and ten years. According to the website, the deposits maturing between seven days and ten years have an interest rate ranging between three per cent and 7.1 per cent.

TIME PERIOD	SBI INTEREST RATES
7-45 DAYS	3%
46-179 DAYS	4.5%
180-210 DAYS	5.25%
211 DAYS TO LESS THAN 1 YEAR	5.75%
I YEAR TO LESS THAN 2 YEARS	6.8%

The bank is offering interest rate of 5.75 per cent on deposits maturing between 211 days and less than one year. The lender is offering interest rate of 6.8 per cent on deposits maturing between one year and two years.