Bank FD: Interest Rates Comparison

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Posted by AI on 2025-06-25 16:56:48 | Last Updated by AI on 2026-06-27 09:05:00

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FD investors have flocked to ICICI Bank, attracting retail deposits at a greater rate than SBI and HDFC Bank across most tenors. This is particularly true for mid to long term fixed deposits, where ICICI Bank's offerings are far more attractive interest rates-wise.

The graph below depicts the comparative interest rate offerings of the three banks across varying tenors.

SBI

0 1 2 3 5 6 7 10 11 12 15 18

5.50 5.50 5.75 6.00 6.20 6.40 6.60 6.85 6.95 7.10 7.35 7.55

HDFC

0 1 2 3 5 6 7 10 11 12 15 18

5.50 5.80 6.10 6.30 6.50 6.70 6.90 7.10 7.25 7.40 7.55 7.75

ICICI

0 1 2 3 5 6 7 8 9 10 12 15

5.25 5.50 5.75 6.00 6.20 6.40 6.60 6.85 7.00 7.15 7.35 7.55

The offering of ICICI Bank, for the longest mature duration of 18 years, is markedly higher than that of SBI and HDFC Bank, demonstrating the former's aggressive bid to garner these lucrative, long-term deposits.

This trend is evident in the substantial difference in cumulative interest earned across all tenors. As of February 2023, ICICI Bank offers cumulative interest rates up to 1.1% higher than that of HDFC Bank, and 1.2% more than SBI.

This data underscores FD investors' preferences and highlights a strategic advantage for ICICI Bank in its ability to offer higher rates at a time when the RBI is seeking to increase retail deposits in the Indian banking system.

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