Core Insights - The article emphasizes the importance of comparing fixed deposit (FD) interest rates across different banks to maximize returns, as even a small difference of 50 basis points can lead to significant gains over time [1]. Interest Rates Overview - HDFC Bank offers 6.25% interest for regular citizens and 6.75% for senior citizens on 1-year fixed deposits, effective from June 25, 2025 [3]. - ICICI Bank provides the same rates as HDFC Bank for 1-year to 18-month FDs, with the highest interest for longer tenures [3]. - Kotak Mahindra Bank matches the rates of HDFC and ICICI for 1-year FDs, effective from August 20, 2025 [4]. - Axis Bank also offers 6.25% for regular citizens and 6.75% for senior citizens on 1-year FDs [4]. - Federal Bank provides a slightly higher rate of 6.40% for regular citizens and 6.90% for senior citizens on 1-year FDs, effective from August 18, 2025 [4]. - State Bank of India (SBI) offers 6.25% for regular citizens and 6.75% for senior citizens starting July 15 [5]. - Union Bank of India offers 6.40% for regular citizens and 6.90% for senior citizens, effective from August 20 [6]. Summary of Interest Rates by Bank | Bank | Regular Citizens (%) | Senior Citizens (%) | |--------------------------|----------------------|----------------------| | HDFC Bank | 6.25 | 6.75 | | ICICI Bank | 6.25 | 6.75 | | Kotak Mahindra Bank | 6.25 | 6.75 | | Axis Bank | 6.25 | 6.75 | | Federal Bank | 6.40 | 6.90 | | State Bank of India (SBI)| 6.25 | 6.75 | | Union Bank of India | 6.40 | 6.90 | [5]