Latest Fixed Deposit Interest Rates: SBI vs Kotak Mahindra Bank vs Canara Bank vs Yes Bank FD Rates

Bank fixed deposits have always been the best option if you are worried for the safety of investment. Different banks are offering different interest rates on  fixed deposits for common people including the farming community to buy their own houses.  

Fixed deposits accounts can be opened in any bank or post office across the country. All major banks like State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra etc. gives you an option to open an FD account. Most top lenders also offer the option of a short-term, mid-term or long-term fixed deposit depending on your investment needs and future plan. 

Let’s figure out the best plan for you… 

SBI FD Rates 

 The tenures may vary from 7 days to 10 years for an SBI FD depending upon the need for investment whether it is for short-term or long-term. These FD interest rates vary between 2.9 percent to 5.4 percent for general customers. These rates are effective from January 8, 2021. 

Yes Bank FD Rates 

Yes Bank offers an interest rate ranging from 3.50 percent to 6.75 percent on deposits maturing in seven days to ten years to regular customers. Yes Bank also offers multiple fixed deposit (FD) schemes to both regular and senior citizens. The Bank has revised the interest rate on its term deposits effective February 8, 2021. 

Kotak Mahindra Bank FD rates 

Kotak Mahindra Bank FD interest rates range from 2.50 percent to 5.25 percent on maturities with different tenures. These rates are applicable from February 4, 2021. 

Canara Bank FD interest rates 

Canara Bank offers an interest rate ranging from 2.95 percent to 5.5 percent for FDs maturing in 7 days to ten years. 

Canara Bank has revised interest rates on deposits that are less than Rs 2 crores with effect from February 8, 2021.