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| Tenure | Interest rate for normal citizen | Interest rate for senior citizen |
| 7 days to 45 days | 2.90 percent | 2.90 percent |
| 46 days to 90 days | 4.05 percent | 4.05 percent |
| 180 days to 269 days | 4.50 percent | 5.00 percent |
| 270 days to less than 1 year | 4.55 percent | 5.05 percent |
| 1 Year only | 5.30 percent | 5.80 percent |
| Above 1 year and less than 2 years | 5.40 percent | 5.90 percent |
| 2 years and above to less than 3 years | 5.45 percent | 5.95 percent |
| 3 years and above to less than 5 years | 5.70 percent | 6.20 percent |
| 5 years and above to 10 years | 5.75 percent | 6.25 percent |
The move comes as a result of the hike in RBI’s repo rate. Several other banks like the ICICI bank, SBI, and Kotak Mahindra Bank have also hiked their FD interest rates since the RBI’s announcement.
Here is a comparison of the latest interest rates hikes offered by other banks on fixed deposits.
State Bank of India
India’s largest public sector bank, the State Bank of India revised interest rates offered on bulk fixed deposits of Rs 2 crore and above across various tenors. The bank increased interest rates on bulk deposits by 40-90 basis points or 0.40-0.90 percent. The revised interest rest have already come into effect since 10 May 2022.
Here are the latest interest rates offered by SBI on bulk fixed deposits of Rs 2 crore and above.
| Tenure | New Interest rate for Normal Citizen |
| 7 days to 45 days | 3.00 percent |
| 46 days to 179 days | 3.5 percent |
| 180 days to 210 days | 3.5 percent |
| 211 days to 1 year | 3.75 percent |
| 1 year to 2 years | 4 percent |
| 2 years to 3 years | 4.25 percent |
| 3 years to 5 years | 4.5 percent |
| 5 years to 10 years | 4.5 percent |
The SBI FD interest rates for senior citizens for all tenors are 50 basis points (0.5 percent) higher than the interest rates offered to normal citizens.
ICICI Bank
ICICI Bank also announced a hike in interest rates offered on the fixed deposits of Rs 2 crore to Rs 5 crore by 5 bps across specific tenors. As per the official website of ICICI, the rates on term deposits maturing in 15 months to 10 years have been raised. The revised rates will come into effect from May 13.
Here are the interest rates offered by ICICI bank of FDs of Rs 2 crore to Rs 5 crore across various tenors.
| Tenure | Interest rate for normal citizen | Interest rate for senior citizen |
| 7 days to 14 days | 3.00 percent | 3.00 percent |
| 15 days to 29 days | 3.00 percent | 3.00 percent |
| 30 days to 45 days | 3.25 percent | 3.25 percent |
| 46 days to 60 days | 3.25 percent | 3.25 percent |
| 61 days to 90 days | 3.40 percent | 3.40 percent |
| 91 days to 120 days | 3.60 percent | 3.60 percent |
| 121 days to 150 days | 3.60 percent | 3.60 percent |
| 151 days to 184 days | 3.60 percent | 3.60 percent |
| 185 days to 210 days | 3.75 percent | 3.75 percent |
| 211 days to 270 days | 3.75 percent | 3.75 percent |
| 271 days to 289 days | 4.00 percent | 4.00 percent |
| 290 days to less than 1 year | 4.00 percent | 4.00 percent |
| 1 year to 389 days | 4.50 percent | 4.50 percent |
| 390 days to < 15 months | 4.50 percent | 4.50 percent |
| 15 months to < 18 months | 4.65 percent | 4.65 percent |
| 18 months to 2 years | 4.70 percent | 4.70 percent |
| 2 years 1 day to 3 years | 4.80 percent | 4.80 percent |
| 3 years 1 day to 5 years | 4.85 percent | 4.85 percent |
| 5 years 1 day to 10 years | 4.85 percent | 4.85 percent |
Kotak Mahindra Bank
Kotak Mahindra Bank was one of the first movers to hike interest rates after the RBI announcement. The bank hiked interest rates offered on fixed deposits of less than Rs 2 crore by 30-50 bps or 0.3-0.5 percent across various tenors. The revised rates have come into effect from May 6 as per the bank’s official website.
Here are the latest interest rates offered by Kotak Mahindra on fixed deposits of less than Rs. 2 Crores across various tenors.
| Tenure | Interest rate for normal citizen | Interest rate for senior citizen |
| 7 days to 14 days | 2.50 percent | 3.00 percent |
| 15 days to 30 days | 2.50 percent | 3.00 percent |
| 31 days to 45 days | 3.00 percent | 3.50 percent |
| 46 days to 90 days | 3.00 percent | 3.50 percent |
| 91 days to 120 days | 3.50 percent | 4.00 percent |
| 121 days to 179 days | 3.50 percent | 4.00 percent |
| 180 days | 4.75 percent | 5.25 percent |
| 181 days to 269 days | 4.75 percent | 5.25 percent |
| 270 days | 4.75 percent | 5.25 percent |
| 364 days | 5.25 percent | 5.75 percent |
| 365 days to 389 days | 5.40 percent | 5.90 percent |
| 390 days (12 months 25 days) | 5.50 percent | 6.00 percent |
| 391 days to less than 23 months | 5.50 percent | 6.00 percent |
| 23 months | 5.60 percent | 6.10 percent |
| 23 months 1 days to less than 2 years | 5.60 percent | 6.10 percent |
| 2 years to less than 3 years | 5.60 percent | 6.10 percent |
| 3 years and above but less than 4 years | 5.75 percent | 6.25 percent |
| 4 years and above but less than 5 years | 5.75 percent | 6.25 percent |
| 5 years and above up to and inclusive of 10 years | 5.75 percent | 6.25 percent |
