Fixed deposit interest rates: SBI revised its fixed deposit (FD) interest rates last on September 10

Top banks in the country currently provide a return of up to 7.5 per cent on fixed deposits up to Rs 2 crore. State Bank of India (SBI), Punjab National Bank (PNB), ICICI Bank and HDFC Bank offer interest rates to the tune of 3.5-7 per cent per annum to the general public and 4-7.5 per cent to senior citizens on such fixed deposits or FDs across a range of maturity terms starting from seven days. The interest rates are revised from time to time. The country's largest bank, SBI, for example, revised its interest rates applicable to fixed deposits last on September 10. (Also read: Bank of India revises FD interest rate)

Here's a comparison of the interest rates offered by these banks on FDs up to Rs 2 crore:

SBI fixed deposit interest rates

Maturity period Interest rate with effect from September 10 For public For senior citizen Seven days to 45 days 4.50% 5% 46 days to 179 days 5.50% 6% 180 days to 210 days 5.80% 6.30% 211 days to less than one year 5.80% 6.30% One year to less than two years 6.50% 7% Two years to less than three years 6.25% 6.75% Three years to less than five years 6.25% 6.75% Five years and up to 10 years 6.25% 6.75% (Source: sbi.co.in)

PNB fixed deposit interest rates

Maturity period Interest rate with effect from October 1 For public For senior citizen Seven days to 14 days 4.50% 5% 15 days to 29 days 4.50% 5% 30 days to 45 days 4.50% 5% 46 days to 90 days 5.50% 6% 91 days to 179 days 5.50% 6% 180 days to 270 days 6% 6.50% 271 days to less than one year 6% 6.50% 333 days 6.10% 6.60% One year 6.50% 7% 444 days 6.50% 7% 555 days 6.50% 7% Above one year and up to two years 6.40% 6.90% Above two years and up to three years 6.25% 6.75% Above three years and up to five years 6.25% 6.75% Above five years and up to 10 years 6.50% 7% (Source: pnbindia.in)

HDFC Bank fixed deposit interest rates

Maturity period Interest rate with effect from September 13 For public For senior citizen Seven days to 14 days 3.50% 4.00% 15 days to 29 days 4.25% 4.75% 30 days to 45 days 5.15% 5.65% 46 days to 60 days 5.65% 6.15% 61 days to 90 days 5.65% 6.15% 91 days to six months 5.65% 6.15% Six months one day to nine months 6.25% 6.75% Nine months one day to less than one year 6.35% 6.85% One year 6.60% 7.10% One year one day to two years 6.60% 7.10% Two years one day to three years 7.00% 7.50% Three years one day to five years 6.90% 7.40% Five years one day to 10 years 6.90% 7.40% (Source: hdfcbank.com)

ICICI Bank fixed deposit interest rates

Maturity period Interest rate with effect from September 20 For public For senior citizen 7 days to 14 days 4% 4.50% 15 days to 29 days 4.25% 4.75% 30 days to 45 days 5% 5.50% 46 days to 60 days 5.50% 6% 61 days to 90 days 5.50% 6% 91 days to 120 days 5.50% 6% 121 days to 184 days 5.50% 6% 185 days to 289 days 6% 6.50% 290 days to less than 1 year 6.25% 6.75% One year to 389 days 6.60% 7.10% 390 days to less than 18 months 6.60% 7.10% 18 months to two years 7% 7.50% Two years and one day up to three years 6.90% 7.40% Three years one day up to five years 6.90% 7.40% Five years one day up to 10 years 6.90% 7.40% Five years tax-saver FD (maximum Rs 1.50 lakh) 6.90% 7.40% (Source: icicibank.com)

Meanwhile, the Reserve Bank of India (RBI) has so far this year reduced the repo rate - the key interest rate at which it lends short-term funds to commercial banks such as SBI, PNB, ICICI Bank and HDFC Bank – by 135 basis points (1.35 percentage point).