Following the Reserve Bank of India’s revision in repo rates, several banks have revised interest rates on fixed/bulk deposits. The latest are private sector lenders, IDFC First Bank and ICICI bank. IDFC First Bank has raised interest rates on fixed deposits above Rs 2 crore with effect from May 27, 2022. ICICI Bank has hiked the interest rates of its fixed deposits for the second time this month. The new rates are applicable on deposits above Rs 2 crore to Rs 5 crore with effect from May 27, 2022.
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Another major lender, HDFC Bank, had hiked fixed deposit interest rates earlier. The new rates are applicable for fixed deposits below Rs 2 crore from May 18, 2022.
Here are the latest interest rates on FDs offered by these banks.
IDFC First Bank: effective date May 27, 2022
Interest rates for domestic, NRE, NRO fixed deposits of Rs 2 to 5 crore where premature withdrawal is not permitted:
| Tenure | Interest Rate | Interest rate for senior citizens |
| 7 - 14 days | 3.90 percent | 4.40 percent |
| 15 - 35 days | 3.90 percent | 4.40 percent |
| 36 - 45 days | 3.95 percent | 4.45 percent |
| 46 - 60 days | 4.10 percent | 4.60 percent |
| 61 - 91 days | 4.85 percent | 5.35 percent |
| 92 - 180 days | 5.10 percent | 5.60 percent |
| 181 - 270 days | 5.50 percent | 6.00 percent |
| 271 - 365 days | 6.00 percent | 6.50 percent |
| 366 - 399 days | 6.25 percent | 6.75 percent |
| 400 – 540 days | 6.25 percent | 6.75 percent |
| 541 - 731 days | 6.25 percent | 6.75 percent |
| 732 - 1095 days | 6.25 percent | 6.75 percent |
| 3 years 1days - 5 years | 6.50 percent | 7.00 percent |
| 5 Year 1 Day - 8 Years | 6.50 percent | 7.00 percent |
| 8 Year 1 Day - 10 Years | 6.50 percent | 7.00 percent |
ICICI Bank: Effective date May 27, 2022
Interest rates for domestic, NRO & NRE fixed deposits of less than Rs 5 crore:
| Tenure | Interest rate | Interest rate for senior citizens |
| 7 days - 14 days | 3.00 percent | 3.00 percent |
| 15 days - 29 days | 3.00 percent | 3.00 percent |
| 30 days - 45 days | 3.25 percent | 3.25 percent |
| 46 days - 60 days | 3.25 percent | 3.25 percent |
| 61 days - 90 days | 3.40 percent | 3.40 percent |
| 91 days - 120 days | 4.25 percent | 4.25 percent |
| 121 days - 150 days | 4.25 percent | 4.25 percent |
| 151 days - 184 days | 4.25 percent | 4.25 percent |
| 185 days - 210 days | 4.50 percent | 4.50 percent |
| 211 days - 270 days | 4.50 percent | 4.50 percent |
| 271 days - 289 days | 4.70 percent | 4.70 percent |
| 290 days - less than 1 year | 4.70 percent | 4.70 percent |
| 1 year - 389 days | 4.95 percent | 4.95 percent |
| 390 days - < 15 months | 4.95 percent | 4.95 percent |
| 15 months - < 18 months | 5.00 percent | 5.00 percent |
| 18 months - 2 years | 5.00 percent | 5.00 percent |
| 2 years 1 day - 3 years | 5.25 percent | 5.25 percent |
| 3 years 1 day - 5 years | 5.25 percent | 5.25 percent |
| 5 years 1 day - 10 years | 5.25 percent | 5.25 percent |
| 5 Years (80C FD) – Max - `1.50 lac | NA | NA |
| 211 days - 270 days | 4.50 percent | 4.50 percent |
HDFC Bank: Effective date May 18, 2022
Interest rates on fixed deposits of less than Rs 2 Crore
| Tenure | Interest rate | Interest rate for senior citizens |
| 7 - 14 days | 2.50 percent | 3.00 percent |
| 15 - 29 days | 2.50 percent | 3.00 percent |
| 30 - 45 days | 3.00 percent | 3.50 percent |
| 46 - 60 days | 3.00 percent | 3.50 percent |
| 61 - 90 days | 3.00 percent | 3.50 percent |
| 91 days - 6 months | 3.50 percent | 4.00 percent |
| 6 mnths 1 days - 9 mnths | 4.40 percent | 4.90 percent |
| 9 mnths 1 day < 1 Year | 4.50 percent | 5.00 percent |
| 1 Year | 5.10 percent | 5.60 percent |
| 1 year 1 day - 2 years | 5.10 percent | 5.60 percent |
| 2 years 1 day - 3 years | 5.40 percent | 5.90 percent |
| 3 year 1 day- 5 years | 5.60 percent | 6.10 percent |
| 5 years 1 day - 10 years | 5.75 percent | 6.50 percent* |
