Highest Interest on Fixed Deposits: So far this calendar year, the RBI has reduced the repo rate by 100 basis points through three consecutive monetary policy meetings. Later, banks have also reduced the rates on fixed deposits and loans accordingly. Which bank should investors who are planning to make fixed deposits now choose?
The first thing to do is to understand which bank is offering the highest rate of interest. For this, you need to compare the rates of the banks you have listed.
HDFC Bank: HDFC Bank is offering 6.6 percent interest on fixed deposits for a period of 18 to 21 years. Senior citizens will also get 7.10 percent interest for the same period. This is the interest rate effective from June 25, 2025.
ICICI Bank: 6.6 percent interest is offered to those who make fixed deposits here for a period of 2 to 10 years. Senior citizens will also get 7.10 percent interest.
Kotak Mahindra Bank: Fixed deposits with a tenure of 391 days to 23 months will get an interest of up to 6.6 percent. Senior citizens will get 7.10 percent interest on their deposits. These rates were effective from June 18, 2025.
Federal Bank: General depositors will get 6.7 percent interest and senior citizens will get 7.2 percent interest on deposits with a tenure of 444 days. These rates were effective from July 17.
State Bank of India (SBI): The bank is offering an interest of 6.45 percent on deposits with a tenure of 2-3 years in SBI. Senior citizens will get an interest of 6.95 percent. These latest rates were effective from July 15.
Bank of Baroda: Bank of Baroda is offering 6.6 percent interest on fixed deposits with a tenure of 444 days. Senior citizens will get an interest rate of 7.10%. These rates came into effect from June 12, 2025.
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