SBI Slashes FD Rates Effective From 15-April: Here’s A Comparison With HDFC, ICICI, Axis, BoB, Kotak & PNB

Major Indian banks have begun lowering their interest rates on fixed deposits after the Reserve Bank of India (RBI) dropped the repo rate by 25 basis points to 6%. Banks, notably the State Bank of India (SBI), have adjusted their interest rates in line with the shift in the monetary landscape since the RBI's rate drop. For customers with fixed deposits under Rs 3 Cr, SBI has offered a rate reduction of 10 bps throughout several tenures. The latest FD rates go into effect on April 15th, according to SBI's official website.

SBI FD Rates

The bank will continue to give an interest rate of 3.50% on fixed deposits that mature in 7-45 days, while SBI will continue to offer an interest rate of 5.50% on those that mature in 46-179 days. For a fixed deposit period of 180 days to 210 days, SBI will continue to give an interest rate of 6.25%; for a tenure of 211 days to less than a year, the interest rate will stay at 6.50%.

For fixed deposit tenures of one year to less than two years, SBI has lowered interest rates by 10 basis points, from 6.80% to 6.70%, and for two-year to less than three-year tenures, the bank has slashed interest rates by 10 basis points, from 7.00% to 6.90%. At SBI, fixed deposits that mature in three to less than five years will still get 6.75% interest, while those that mature between five to ten years will still earn 6.50%.

Tenors	Existing Rates for Public w.e.f. 15/06/2024	Revised Rates for Public w.e.f. 15/04/2025	Existing Rates for Senior Citizen w.e.f. 15/06/2024	Revised Rates for Senior Citizen w.e.f. 15/04/2025
7 days to 45 days	3.5	3.5	4	4
46 days to 179 days	5.5	5.5	6	6
180 days to 210 days	6.25	6.25	6.75	6.75
211 days to less than 1 year	6.5	6.5	7	7
1 Year to less than 2 years	6.8	6.7	7.3	7.2
2 years to less than 3 years	7	6.9	7.5	7.4
3 years to less than 5 years	6.75	6.75	7.25	7.25
5 years and up to 10 years	6.5	6.5	7.50*	7.5

"The specific tenor scheme of "444 days" (Amrit Vrishti) at Rate of Interest 7.05 % is effective from 15th April 2025 and Senior Citizens are offered a Rate of interest 7.55%. Super Senior Citizens are offered a Rate of Interest 7.65%." w.e.f. 15.04.2025," mentioned SBI on its website.

HDFC Bank FD Rates

HDFC Bank's latest fixed deposit interest rates for amounts of less than Rs 3 Cr are effective as of 1st April , 2025 and are as follows.

Tenor Bucket	Interest Rate (per annum)	Senior Citizen Rates (per annum)
7 - 14 days	3.00%	3.50%
15 - 29 days	3.00%	3.50%
30 - 45 days	3.50%	4.00%
46 - 60 days	4.50%	5.00%
61 - 89 days	4.50%	5.00%
90 days to 6 months	4.50%	5.00%
6 months 1 days - 9 months	5.75%	6.25%
9 months 1 day to - 1 year	6.00%	6.50%
1 year to - 15 months	6.60%	7.10%
15 months to - 18 months	7.10%	7.60%
18 months to - 21 months	7.25%	7.75%
21 months - 2 years	7.00%	7.50%
2 Years 1 day to 2 Year 11 Months	7.00%	7.50%
2 Years 11 Months - 35 Months	7.00%	7.50%
2 Years 11 Months 1 day - 3 Year	7.00%	7.50%
3 Years 1 day to 4 Years 7 Months	7.00%	7.50%
4 Year 7 Months - 55 months	7.00%	7.50%
4 Year 7 Months 1 day - 5 Years	7.00%	7.50%
5 Years 1 day - 10 Years	7.00%	7.50%

ICICI Bank FD Rates

The following are ICICI Bank's latest fixed deposit interest rates, which go into effect on April 14, 2025, for deposits under Rs 3 Cr.

Tenure	General Citizen	Senior Citizen
7 to 29 Days	3.00%	3.50%
30 to 45 Days	3.50%	4.00%
46 to 60 Days	4.25%	4.75%
61 to 90 Days	4.50%	5.00%
91 to 184 Days	4.75%	5.25%
185 to 270 Days	5.75%	6.25%
271 Days to 1 Year	6.00%	6.50%
1 Year to 15 Months	6.70%	7.20%
15 Months to 18 Months	7.25%	7.85%
18 Months to 2 Years	7.25%	7.75%
2 Years 1 Day to 5 Years	7.00%	7.50%
5 Years 1 Day to 10 Years	6.90%	7.40%
5Y (Tax Saver FD)	7.00%	7.50%

Axis Bank FD Rates

As of April 11, 2025, Axis Bank's current fixed deposit interest rates for sums under Rs 3 Cr are as follows.

Maturity Period	General	Senior Citizens
7 - 14 days	3.00%	3.50%
15 - 29 days	3.00%	3.50%
30 - 45 days	3.50%	4.00%
46 - 60 days	4.25%	4.75%
61 - 87 days	4.50%	5.00%
88 days - 3 months 24 days	4.75%	5.25%
3 months 25 days - 4 months	4.75%	5.25%
4 months - 6 months	4.75%	5.25%
6 months - 9 months	5.75%	6.25%
9 months - 1 year	6.00%	6.50%
1 year - 1 year 10 days	6.70%	7.20%
1 year 11 days - 13 months	6.70%	7.20%
13 months - 15 months	6.70%	7.20%
15 months - 18 months	7.25%	7.75%
18 months - 2 years	7.25%	7.75%
2 years - 3 years	7.10%	7.60%
3 years - 5 years	7.10%	7.60%
5 years to 10 years	7.00%	7.75%

Bank of Baroda FD Rates

The following are BoB's latest fixed deposit interest rates, which go into effect on April 7, 2025, for deposits under Rs 3 Cr.

Tenors	Residents / General Public	Resident Indian Sr. Citizen	Resident Super Senior Citizen
7 days to 14 days	4.25	4.75*	4.75*
15 days to 45 days	4.5	5.00*	5.00*
46 days to 90 days	5.5	6.00*	6.00*
91 days to 180 days	5.6	6.10*	6.10*
181 days to 210 days	5.75	6.25*	6.25*
211 days to 270 days	6.25	6.75*	6.75*
271 days & above and less than 1 year	6.5	7.00*	7.00*
1 year	6.85	7.35*	7.35*
Above 1 year to 400 days	7	7.50*	7.60$
Above 400 days and upto 2 Years (except 444 Days)	7	7.50*	7.60$
Above 2 Years and upto 3 Years	7.15	7.65*	7.75$
Above 3 Years and upto 5 Years	6.8	7.40 #	7.50$
Above 5 Years and upto 10 Years	6.5	7.50**	7.50**
bob Square Drive Deposit Scheme (444 Days)	7.15	7.65*	7.75

Kotak Mahindra Bank FD Rates

The following are Kotak Mahindra Bank's most recent fixed deposit interest rates, which go into effect on April 9, 2025, for deposits under Rs 3 Cr.

Maturity Periods	Regular	Senior Citizen
7 - 14 Days	2.75%	3.25%
15 - 30 Days	3.00%	3.50%
31 - 45 Days	3.25%	3.75%
46 - 90 Days	3.50%	4.00%
91 - 120 Days	4.00%	4.50%
121 - 179 days	4.25%	4.75%
180 Days	7.00%	7.50%
181 Days to 269 Days	6.00%	6.50%
270 Days	6.00%	6.50%
271 Days to 363 Days	6.00%	6.50%
364 Days	6.50%	7.00%
365 Days to 389 Days	7.10%	7.60%
390 Days (12 months 25 days)	7.25%	7.75%
391 Days - Less than 23 Months	7.30%	7.80%
23 Months	7.25%	7.75%
23 months 1 Day- less than 2 years	7.15%	7.65%
2 years- less than 3 years	7.15%	7.65%
3 years and above but less than 4 years	7.00%	7.50%
4 years and above but less than 5 years	7.00%	7.50%
5 years and above upto and inclusive of 10 years	6.20%	6.70%

PNB FD Rates

The following are the most recent fixed deposit interest rates offered by Punjab National Bank for sums under Rs 3 Cr, which go into effect on April 10, 2025.

Sr No.	Period	Revised Rates For Public w.e.f. 10.04.2025	Revised Rates for Senior Citizens w.e.f. 10.04.2025	Revised Rates for Super Senior Citizens w.e.f. 10.04.2025
1	7 to 14 Days	3.5	4	4.3
2	15 to 29 Days	3.5	4	4.3
3	30 to 45 Days	3.5	4	4.3
4	46 to 60 Days	4.5	5	5.3
5	61 to 90 Days	4.5	5	5.3
6	91 to 179 Days	5.5	6	6.3
7	180 to 270 Days	6.25	6.75	7.05
8	271 Days to 299 Days	6.5	7	7.3
9	300 Days	6.5	7	7.3
10	301 Days to 302 Days	6.5	7	7.3
11	303 Days**	6.4	6.9	7.2
12	304 Days to 1 Years	6.5	7	7.3
13	1 Year	6.8	7.3	7.6
14	1 Year to 389 days	6.8	7.3	7.6
15	390 days	7.1	7.6	7.9
16	391 Days to 399 Days	6.8	7.3	7.6
17	400 Days	6.8	7.3	7.6
18	401 Days-505 Days	6.8	7.3	7.6
19	506 Days**	6.7	7.2	7.5
20	507 Days to 2 year	6.8	7.3	7.6
21	2 years to 3 years	6.75	7.25	7.55
22	3 years to 1203 days	6.25	6.75	7.05
23	1204 days**	6.15	6.65	6.95
24	1205 days to 5 years	6.25	6.75	7.05
25	5 years to 1894 days	6	6.8	6.8
26	1895 days**	5.85	6.65	6.65
27	1896 days to 10 years	6	6.8	6.8

Note:The interest rates have been taken from the official websites of the respective banks.