List of Banks giving the Highest profit on one year of FD in 2024

The RBI has not made any changes to the interest rates. As a result, attention has turned towards fixed deposits (FDs) among bank customers once again.

Recently, the largest private lender in the country, HDFC Bank, has increased the interest rates on their FDs. Other banks have also witnessed some changes in their interest rates. Therefore, it is necessary to know the interest rates of banks before making a new FD.

Which bank offers the highest return on one-year FDs in 2024?

Bank	Interest Rate for Regular Customers	Interest Rate for Senior Citizens	Effective Since
State Bank of India (SBI)	6.80%	N/A	December 27th, 2023
HDFC Bank	6.60%	7.10%	February 9th, 2024
ICICI Bank	7.40%	N/A	February 8th, 2024
Axis Bank	6.70%	N/A	February 5th, 2024
Kotak Mahindra Bank	7.10%	N/A	N/A
Bank of Baroda	6.85%	N/A	N/A

State Bank of India offer on one-year FDs :

SBI offers a return of 6.80% on one-year FDs. For FDs ranging from 2 years to 3 years, the return is 7%. For FDs ranging from 3 years to 5 years, the return is 6.75%. FDs with a tenure exceeding 5 years provide a return of 6.50%. These new interest rates have been effective since December 27th, 2023.

HDFC Bank offer on one-year FDs:

HDFC Bank offers a return of 6.60% for regular customers and 7.10% for senior citizens on one-year FDs. For FDs ranging from 15 months to 18 months, the interest rate is 7.10%.

For FDs ranging from 18 months to 21 months, the interest rate is 7.25%. Furthermore, for FDs ranging from 21 months to 2 years 11 months, the interest rate is 7%. Finally, for FDs ranging from 2 years 11 months to 35 months, the interest rate is 7.15%. The new interest rates have been effective since February 9th.

ICICI Bank offer on one-year FDs :

ICICI Bank offers an interest rate of 7.40% on one-year FDs. For FDs ranging from 390 days to 15 months, the return is 7.30%. The annual return on FDs ranging from 15 months to 2 years is 7.05%. Additionally, the bank provides a 7% interest rate on FDs with a tenure exceeding 2 years. The new rates have been effective since February 8th, 2024.

Axis Bank of India offer on one-year FDs :

Axis Bank offers a return of 6.70% on one-year FDs. For two-year FDs, the return is 7.10%. The return remains at 7.10% for three-year FDs, and for five-year FDs, the interest rate is 7%. These new interest rates have been effective since February 5th, 2024.

Kotak Mahindra Bank offer on one-year FDs :

Kotak Mahindra Bank offers a return of 7.10% on one-year FDs. For two-year FDs, the return is 7.15%. For three or four-year FDs, the return remains at 7%. The return on five-year FDs is 6.20%.

Bank of Baroda offer on one-year FDs :

Bank of Baroda offers a return of 6.85% on FDs ranging from 1 to 2 years. For FDs ranging from 2 to 3 years, the return is 7.25%. For 4-year FDs, the bank provides a return of 6.50%.