Latest Fixed Deposit Interest Rates: SBI vs HDFC vs ICICI Bank - Which Bank Offers Better Returns On 3-Year FD?

New Delhi: Investing in fixed deposits (FDs) is a popular way to grow savings securely while earning a steady interest. Fixed deposits allow people to invest a lump sum amount for a specific period, which can range from as short as seven days to as long as ten years. The interest rates offered on FDs vary depending on the bank, the amount deposited, and the chosen tenure, making it important for investors to select the right scheme to maximize their returns.

SBI vs HDFC vs ICICI Bank FD RatesLet’s take a look at the estimated returns for a three-year FD of Rs 3 lakh across State Bank of India (SBI), HDFC Bank, and ICICI Bank for both general citizens and senior citizens. Latest SBI FD Rates 2024: Return CalculatorState Bank of India offers an interest rate of 6.75 per cent per annum for general citizens and 7.25 per cent per annum for senior citizens. If a general citizen invests Rs 3 lakh in a three-year FD, the estimated returns would be Rs 66,718, making the total value Rs 3,66,718 at maturity. For senior citizens, the higher rate of 7.25% would yield Rs 72,164 in interest, bringing the total to Rs 3,72,164. Latest HDFC Bank FD Rates 2024: Return CalculatorHDFC Bank provides slightly higher rates, with 7 per cent per annum for general citizens and 7.5 per cent per annum for senior citizens. A three-year FD of Rs 3 lakh for a general citizen would grow by Rs 69,432, resulting in a total of Rs 3,69,432 at the end of the tenure. For senior citizens, the returns would be Rs 74,915, totaling Rs 3,74,915 after three years.

Latest ICICI Bank FD Rates 2024: Return CalculatorICICI Bank also offers 7 per cent interest for general citizens and 7.5 per cent for senior citizens. Under these rates, a general citizen’s Rs 3 lakh FD would yield Rs 69,432 in interest, with a total value of Rs 3,69,432. For senior citizens, the estimated returns are Rs 74,915, bringing the final amount to Rs 3,74,915 after three years.