The post lists down the rate of Fixed Deposit Interest Rates as of June 1, 2021. You might want to bookmark this page as the FD interest rates would be updated every month. Would help you in better decision making.ma
Fixed Deposit Highlights
- Most banks offer FDs for tenure of 7 Days to 10 Years.
- The Ratnakar Bank & IDBI Bank do offer fixed deposits up to 20 years too.
- For very short Term Deposits the interest rate is similar to that of Savings Account and so you should not worry about FD. Also Interest up to Rs 10,000 in Saving Account is Tax free.
- Most banks compound interest quarterly
- Most New Small Finance Banks offer higher interest rate across tenures.
- Banks offer Loan/Overdraft against the amount available in Fixed Deposit. The interest is generally 0.5% to 1% more than that offered to FD.
- TDS (Tax deduction at source) at the rate of 10% is deducted, if the interest income is more than Rs 40,000 in financial year per bank (changed from Rs 10,000 limit in Budget 2019)
- In case of Senior citizens TDS would be deducted at the rate of 10%, if the interest income exceeds Rs 50,000
- In case the PAN number is not updated with the bank, the TDS rate is 20%
- There might be penalty for pre-mature withdrawal of Fixed Deposits
Top Fixed Deposit Interest Rates
The highest interest rate on fixed deposit is offered by Suryoday Small Finance Bank (5 Years) at 7.25%.
In traditional banks Yes Bank is offering 6.75% for 5 Years to <= 10 years tenure.
For comparing the best interest rates on fixed deposits over different duration of investment, we have it divided into following 5 slabs:
- FD for Less than 1 Year
- FD for 1 to 2 years
- FD for 2 to 5 Years
- FD for 5 to 10 years
- FD for More than 10 years
We show the highest interest rates on fixed deposits for the above duration buckets. We have also compared the best interest rates on offer by that being offered by State Bank of India (SBI), ICICI Bank and Post Offices.
How to Pay 0 Income Tax on Salary of Rs 20+ Lakh (FY 2020-21)?
As you can see with the above income tax calculation, salary components and salary structure plays a very important role in how much income tax you pay. We have come up with some optimised salary structure using which you pay NO income tax even with CTC of more than Rs 20 Lakhs.
Best Fixed Deposit Interest Rates for Less than 1 Year
- The highest interest rate is offered by Suryoday Small Finance Bank (Above 9 months to less than 1 Year) at 6.25%
- In traditional banks Indus Ind Bank offers 5.75% for 270 days to below 1 year tenure
| Bank | Type of Bank | Description | Interest Rate |
|---|---|---|---|
| Suryoday Small Finance Bank | Small Bank | Above 9 months to less than 1 Year | 6.25% |
| ESAF Small Finance Bank | Small Bank | 183 days to 727 days | 6.00% |
| Suryoday Small Finance Bank | Small Bank | Above 6 months to 9 months | 6.00% |
| Utkarsh Small Finance Bank | Small Bank | 181 Days to 364 Days | 6.00% |
| Indus Ind Bank | Private | 270 days to below 1 year | 5.75% |
| DCB Bank | Private | 6 months to less than 12 months | 5.70% |
| ESAF Small Finance Bank | Small Bank | 91 days to 181 days | 5.50% |
| Jana Small Finance Bank | Small Bank | 181-364 days | 5.50% |
| Yes Bank | Private | 9 months to < 1 Year | 5.50% |
| Indus Ind Bank | Private | 211 days to 269 days | 5.50% |
| Ratnakar Bank | Private | 241 days to 364 days | 5.50% |
| DCB Bank | Private | 91 days to less than 6 months | 5.25% |
| Yes Bank | Private | 6 months to < 9 months | 5.25% |
| Equitas Small Finance Bank | small Bank | 181 β 364 days | 5.25% |
| AU Small Finance Bank | Small Bank | 6 Months 1 Day to 12 Months | 5.25% |
| Capital Small Finance Bank | Small Bank | 180 Days to less than 1 Year | 5.25% |
| Bandhan Bank | Private | 6 months to less than 1 year | 5.25% |
| IDFC First Bank | Private | 181 days – less than 1 year | 5.25% |
| Indus Ind Bank | Private | 181 days to 210 days | 5.25% |
| Tamilnad Mercantile Bank | Private | 180 dys to less than 1 Year | 5.25% |
| Ratnakar Bank | Private | 181 days to 240 days | 5.25% |
| Ujjivan Small Finance Bank | Small Bank | 180 Days to 364 Days | 5.20% |
| Axis Bank | Private | 11 months 25 days < 1 year 5 days | 5.15% |
| Nainital Bank | Private | 270 days and above but less than 1 year | 5.15% |
| Karnataka Bank | Private | 91 days to 364 days | 5.10% |
| Nainital Bank | Private | 180 days and above but less than 270 days | 5.05% |
| North East Small Finance Bank | Small Bank | 181-365 Days | 5.00% |
| City Union Bank | Private | 271 days to 364 days | 5.00% |
| Ratnakar Bank | Private | 91 days to 180 days | 4.75% |
| Yes Bank | Private | 3 months to < 6 months | 4.75% |
| Capital Small Finance Bank | Small Bank | 90 Days to 179 Days | 4.75% |
| State Bank of India | Government | Government Bank Benchmark | 2.90% β 4.40% |
| ICICI Bank | Private | Private Bank Benchmark | 2.50% β 4.40% |
Do you Know about Hidden Charges in Banks?
Do you know you pay a few thousand rupees every year to hidden charges of banks. This could range from more known fines for not maintaining minimum balance amount to lesser know POSDEC charge of ICICI Bank. There could be charges for ATM usage, branch visits, cheque books and so on. Do read our article on Hidden Charges in Banks and what you can do about it?
Best Fixed Deposit Interest Rates for 1 β 2 Years
- The highest interest rate is offered by Utkarsh Small Finance Bank (700 Days) at 7.00%
- In traditional banks Indus Ind Bank offers 6.50% for 1 year to below 61 month tenure
| Bank | Type of Bank | Description | Interest Rate |
|---|---|---|---|
| Utkarsh Small Finance Bank | Small Bank | 700 Days | 7.00% |
| Suryoday Small Finance Bank | Small Bank | 1 Year to 2 years | 6.75% |
| Utkarsh Small Finance Bank | Small Bank | 365 Days to 3652 Days | 6.75% |
| North East Small Finance Bank | Small Bank | 366 days to 1095 days | 6.75% |
| Jana Small Finance Bank | Small Bank | > 1 Year β 3 Years | 6.50% |
| Ujjivan Small Finance Bank | Small Bank | 1 Year to 2 Years | 6.50% |
| Indus Ind Bank | Private | 1 year to below 61 month | 6.50% |
| DCB Bank | Private | 700 days | 6.40% |
| AU Small Finance Bank | Small Bank | 12 Months 1 Day to 15 Months | 6.35% |
| Equitas Small Finance Bank | small Bank | 1 year to 18 months | 6.35% |
| Jana Small Finance Bank | Small Bank | 1 Year[365 Days] | 6.25% |
| ESAF Small Finance Bank | Small Bank | 183 days to 727 days | 6.25% |
| Equitas Small Finance Bank | small Bank | 18 months 1 day to 2 years | 6.25% |
| AU Small Finance Bank | Small Bank | 15 Months 1 Day to 24 Months | 6.25% |
| Capital Small Finance Bank | Small Bank | 400 Days | 6.25% |
| Ratnakar Bank | Private | 12 months to less than 36 months | 6.10% |
| DCB Bank | Private | 18 months to less than 36 months | 6.00% |
| DCB Bank | Private | 15 months to less than 18 months | 6.00% |
| Yes Bank | Private | 1 years < 2 years | 6.00% |
| Capital Small Finance Bank | Small Bank | 1 Year to less than 10 Years | 6.00% |
| DCB Bank | Private | 12 months to less than 15 months | 5.80% |
| Bandhan Bank | Private | 1 year to less than 3 years | 5.75% |
| Tamilnad Mercantile Bank | Private | 1 Year to less than 2 years | 5.75% |
| Tamilnad Mercantile Bank | Private | 2 Years to less than 3 Years | 5.65% |
| IDFC First Bank | Private | 1 Year β 2 years | 5.50% |
| City Union Bank | Private | 365 days to 550 days | 5.50% |
| Federal Bank | Private | 16 Months | 5.50% |
| Karur Vysya Bank | Private | 1 year to less than 3 years | 5.50% |
| South Indian Bank | Private | 1 year to less than 3 years | 5.40% |
| Standard Charted Bank | Foreign | 18M < 21M | 5.40% |
| Nainital Bank | Private | Above 18 months but less than or equal to 10 years | 5.35% |
| Dhanalakshmi Bank | Private | 640 days | 5.30% |
| Standard Charted Bank | Foreign | 1yr – 375days | 5.30% |
| Union Bank of India | Government | >1 Year to 2 Years | 5.30% |
| Axis Bank | Private | 18 Months < 2 years | 5.25% |
| Dhanalakshmi Bank | Private | 1 Year and above upto & inclusive of 2 years | 5.25% |
| Indian Overseas Bank | Government | 444 days | 5.25% |
| Indian Overseas Bank | Government | 2 yrs and above | 5.25% |
| Nainital Bank | Private | 1 year and above but less than or equal to 18 months | 5.25% |
| Punjab and Sind Bank | Government | 1 Year β 10 Years | 5.25% |
| Standard Charted Bank | Foreign | 21M < 2 Yrs | 5.25% |
| Union Bank of India | Government | 1 Year | 5.25% |
| Karnataka Bank | Private | 1 year to 2 Years | 5.20% |
| Canara Bank | Government | 1 year to less than 2 years | 5.20% |
| Standard Charted Bank | Foreign | 376 days < 18 Months | 5.20% |
| Axis Bank | Private | 11 months 25 days < 1 year 5 days | 5.15% |
| State Bank of India | Government | Government Bank Benchmark | 5.00% β 5.10% |
| ICICI Bank | Private | Private Bank Benchmark | 4.90% β 5.00% |
| Post Office FD (1 year) | Post Office | Post Office | 5.50% |
| Post Office FD (2 years) | Post Office | Post Office | 5.50% |
How to generate Regular Monthly Income?
There can be several situations when we look for regular income. This is especially true for people after retirement without any pension. Also there would be new entrepreneurs who need regular income until their start-up stabilises. We tell you 13 investments which can generate regular income for you along with their pros and cons.
Best Fixed Deposit Interest Rates for 2 β 5 Years
- The highest interest rate is offered by Suryoday Small Finance Bank (5 Years) at 7.51%
- In traditional banks DCB Bank, Indus Ind Bank & Yes bank offers 6.50%
| Bank | Type of Bank | Description | Interest Rate |
|---|---|---|---|
| Suryoday Small Finance Bank | Small Bank | 5 Years | 7.25% |
| Suryoday Small Finance Bank | Small Bank | Above 3 Years to less than 5 Years | 7.10% |
| Suryoday Small Finance Bank | Small Bank | Above 2 Years to 3 Years | 7.00% |
| North East Small Finance Bank | Small Bank | 777 days | 7.00% |
| Jana Small Finance Bank | Small Bank | > 3 Year- < 5 Years | 6.75% |
| Ujjivan Small Finance Bank | Small Bank | 2 Years and 1 Day to 5 years | 6.75% |
| Utkarsh Small Finance Bank | Small Bank | 365 Days to 3652 Days | 6.75% |
| North East Small Finance Bank | Small Bank | 366 days to 1095 days | 6.75% |
| Jana Small Finance Bank | Small Bank | > 1 Year β 3 Years | 6.50% |
| Equitas Small Finance Bank | small Bank | 888 days | 6.50% |
| DCB Bank | Private | 36 months to 120 months | 6.50% |
| Yes Bank | Private | 3 Years to <= 5 years | 6.50% |
| AU Small Finance Bank | Small Bank | 24 Months 1 Day to 36 Months | 6.50% |
| North East Small Finance Bank | Small Bank | 1096 days to less than 1825 days | 6.50% |
| Indus Ind Bank | Private | 1 year to below 61 month | 6.50% |
| Capital Small Finance Bank | Small Bank | 900 Days | 6.40% |
| Equitas Small Finance Bank | small Bank | 2 years 1 day to 3 years | 6.35% |
| Ratnakar Bank | Private | 36 months to less than 60 months | 6.30% |
| Yes Bank | Private | 2 years < 3 years | 6.25% |
| Equitas Small Finance Bank | small Bank | 3 years 1 day to 5 years | 6.25% |
| AU Small Finance Bank | Small Bank | 36 Months 1 Day to 60 Months | 6.25% |
| Deutsche Bank | Foreign | 5 Years | 6.25% |
| Ratnakar Bank | Private | 12 months to less than 36 months | 6.10% |
| ESAF Small Finance Bank | Small Bank | 729 days to 1091 days | 6.00% |
| Capital Small Finance Bank | Small Bank | 1 Year to less than 10 Years | 6.00% |
| IDFC First Bank | Private | 3 years 1 day – 5 years | 6.00% |
| ESAF Small Finance Bank | Small Bank | 1093 days to 1819 days | 5.75% |
| Bandhan Bank | Private | 1 year to less than 3 years | 5.75% |
| City Union Bank | Private | 551 days to 3 years | 5.75% |
| IDFC First Bank | Private | 2 years 1 day – 3 years | 5.75% |
| Karur Vysya Bank | Private | 3 years to less than 5 years | 5.65% |
| South Indian Bank | Private | 5 years | 5.65% |
| Tamilnad Mercantile Bank | Private | 2 Years to less than 3 Years | 5.65% |
| Union Bank of India | Government | >3 Years to 5 Years | 5.55% |
| Karnataka Bank | Private | Above 2 Year to 5 years | 5.50% |
| Bandhan Bank | Private | 3 years to less than 10 years | 5.50% |
| Canara Bank | Government | 3 years & above to less than 10 years | 5.50% |
| Catholic Syrian Bank | Private | 1100 days | 5.50% |
| Dhanalakshmi Bank | Private | Above 3 years upto & inclusive of 5 years | 5.50% |
| Digibank by DBS | Foreign | 3 years and above | 5.50% |
| Karur Vysya Bank | Private | 1 year to less than 3 years | 5.50% |
| South Indian Bank | Private | 3 years to less than 5 years | 5.50% |
| Tamilnad Mercantile Bank | Private | 3 Years to 10 Years | 5.50% |
| Union Bank of India | Government | >2 Year to 3 Years | 5.50% |
| Canara Bank | Government | 2 years & above to less than 3 years | 5.40% |
| South Indian Bank | Private | 1 year to less than 3 years | 5.40% |
| Indian Overseas Bank | Government | 2 yrs and above | 5.25% |
| State Bank of India | Government | Government Bank Benchmark | 5.10% β 5.40% |
| ICICI Bank | Private | Private Bank Benchmark | 5.15% β 5.35% |
| Post Office FD (2 years) | Post Office | Post Office | 5.50% |
| Post Office FD (3 years) | Post Office | Post Office | 5.50% |
| Post Office FD (5 years) | Post Office | Post Office | 6.70% |
Additional Tax Exemption for Senior Citizens on Interest Income
Budget 2018 introduced a new section 80TTB, which gives additional tax exemption up to Rs 50,000 to Senior Citizens for interest income. Additionally, the threshold for TDS (Tax Deduction at Source) on interest income for Senior Citizens has been raised from Rs 10,000 to Rs 50.000 from FY 2018-19. In case your income is less than the income tax threshold you can avoid TDS by filling and submitting Form 15H to relevant banks and financial institutions.
Best Fixed Deposit Interest Rates for 5 β 10 Years
- The highest interest rate is offered by Utkarsh Small Finance Bank (365 Days to 3652 Days) at 6.75%
- In traditional banks Yes bank offers 6.75% for 5 Years to <= 10 years tenure
| Bank | Type of Bank | Description | Interest Rate |
|---|---|---|---|
| Utkarsh Small Finance Bank | Small Bank | 365 Days to 3652 Days | 6.75% |
| Yes Bank | Private | 5 Years to <= 10 years | 6.75% |
| DCB Bank | Private | 36 months to 120 months | 6.50% |
| Equitas Small Finance Bank | small Bank | 5 years 1 day to 10 years | 6.50% |
| Ratnakar Bank | Private | 60 months to 60 months 1 day | 6.50% |
| AU Small Finance Bank | Small Bank | 60 Months 1 Day to 120 Months | 6.50% |
| Suryoday Small Finance Bank | Small Bank | Above 5 years to 10 years | 6.50% |
| Indus Ind Bank | Private | 1 year to below 61 month | 6.50% |
| Jana Small Finance Bank | Small Bank | 5 Years[1825 Days] | 6.50% |
| North East Small Finance Bank | Small Bank | 1826 days to less than 3650 days | 6.25% |
| Deutsche Bank | Foreign | 5 Years | 6.25% |
| Indus Ind Bank | Private | 61 month and above | 6.25% |
| Jana Small Finance Bank | Small Bank | > 5 Years β 10 Years | 6.00% |
| Capital Small Finance Bank | Small Bank | 1 Year to less than 10 Years | 6.00% |
| ESAF Small Finance Bank | Small Bank | 1821 days to 3653 days | 6.00% |
| Ratnakar Bank | Private | 60 months 2 days to less than 120 months | 6.00% |
| Ujjivan Small Finance Bank | Small Bank | 5 Years and 1 Day to 10 Years | 5.80% |
| Axis Bank | Private | 5 years to 10 years | 5.75% |
| Catholic Syrian Bank | Private | Over 5 years upto and including 10 Years | 5.75% |
| IDFC First Bank | Private | 5 years 1 day β 10 years | 5.75% |
| Karur Vysya Bank | Private | 5 years and above | 5.75% |
| South Indian Bank | Private | 5 years | 5.65% |
| Karnataka Bank | Private | Above 5 year to 10 years | 5.60% |
| Dhanalakshmi Bank | Private | Above 5 years upto & inclusive of 10 years | 5.60% |
| Union Bank of India | Government | >5 Years to 10 Years | 5.60% |
| ICICI Bank | Private | Private Bank Benchmark | 5.50% |
| State Bank of India | Government | Government Bank Benchmark | 5.40% |
Mutual Fund or Fixed Deposit?
In case you are a bit investment savvy, pay tax at higher rates and take some risk you must evaluate SWP in liquid funds. SWP gives you almost similar returns as Banks FDs but with careful planning you can reduce your tax outgo. The added advantage of Mutual fund is there is No TDS. Also in case of emergency you can withdraw your liquid fund without any penalty, where as there may be some penalty on prematurely breaking your FD.
Best Fixed Deposit Interest Rates for more than 10 Years
The Ratnakar Bank and IDBI bank offers fixed deposit of up to 20 years.
| Bank | Type of Bank | Tenure | Interest Rate |
|---|---|---|---|
| Ratnakar Bank | Private | 121 months to less than 240 months | 6.00% |
| IDBI Bank | Private | 10 Years to 20 Years | 4.80% |
Source: Bank Websites Last Updated: June 1, 2021
Disclaimer: The Fixed Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD.
How much Taxes you Need to Pay this Year? Download Our Income Tax Calculator to Know your Numbers
Do you know how much tax you need to pay for the year? Have you taken benefit of all tax saving rules and investments? Should you use the βNEWβ tax regime or continue with the old one? In case you have all these questions just Download the Free Excel Income Tax Calculator for FY 2021-22 (AY 2022-23) and get your answers.
Helpful Posts on Fixed Deposits
- Which bank offers Highest Interest Rate on Bank FD?
- 13 Most Important things to know before investing in Bank Fixed Deposits
- Section 80TTB: Senior Citizens can Save Tax on their Interest Income
- TDS threshold on Bank FD increased to Rs 40,000 from April 1, 2019
- Avoid TDS: fill Form 15G and 15H
- How SWP in Debt Funds generate higher returns than FD
- How to increase bank deposit insurance through Joint accounts?
- How Safe is Your Fixed Deposit in Bank?
- How you loose Money in Fixed Deposits?
- Fixed Deposits that you can use to save Tax
- Fixed Deposits for NRIs
- Highest Interest Rate on Recurring Deposits
- Understanding Compounding and Yield in Fixed Deposit
- How to get Credit card against Fixed Deposit?
- 7 High Rated Companies Offering more than Bank Fixed Deposits
- All about Post Office FD Schemes
Summary of Fixed Deposit Interest Rates across Banks
Earlier we used to provide only the top Fixed Deposit Rates but with several request from readers we have added a summary of FD rates for all banks.
| Bank | Type of Bank | 1 Year | 2 Years | 3 Years | 4 Years | 5 years | 5+ Years |
|---|---|---|---|---|---|---|---|
| AU Small Finance Bank | Small Bank | 6.35% | 6.25% | 6.50% | 6.25% | 6.25% | 6.50% |
| Axis Bank | Private | 5.15% | 5.25% | 5.40% | 5.40% | 5.75% | 5.75% |
| Bandhan Bank | Private | 5.75% | 5.75% | 5.50% | 5.50% | 5.50% | 5.50% |
| Bank of Baroda | Government | 4.90% | 5.00% | 5.10% | 5.25% | 5.25% | 5.25% |
| Bank of India | Government | 5.25% | 5.30% | 5.30% | 5.30% | 5.30% | 5.30% |
| Bank of Maharashtra | Government | 4.90% | 4.90% | 4.90% | 4.90% | 4.90% | 4.90% |
| Canara Bank | Government | 5.20% | 5.40% | 5.50% | 5.50% | 5.50% | 5.50% |
| Capital Small Finance Bank | Small Bank | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
| Catholic Syrian Bank | Private | 5.00% | 5.00% | 5.00% | 5.25% | 5.25% | 5.75% |
| Central Bank of India | Government | 4.90% | 5.00% | 5.00% | 5.00% | 5.10% | 5.10% |
| Citibank | Foreign | 2.75% | 3.00% | 3.50% | 3.50% | 3.50% | x |
| City Union Bank | Private | 5.00% | 5.50% | 5.50% | 5.50% | 5.50% | 5.25% |
| DCB Bank | Private | 5.80% | 6.00% | 6.50% | 6.50% | 6.50% | 6.50% |
| Deutsche Bank | Foreign | 4.00% | 4.25% | 4.50% | 5.00% | 6.25% | x |
| Dhanalakshmi Bank | Private | 5.25% | 5.40% | 5.40% | 5.50% | 5.50% | 5.60% |
| Digibank by DBS | Foreign | 4.25% | 4.50% | 5.50% | 5.50% | 5.50% | 5.50% |
| Equitas Small Finance Bank | Small Bank | 6.35% | 6.50% | 6.25% | 6.25% | 6.25% | 6.50% |
| ESAF Small Finance Bank | Small Bank | 6.50% | 6.00% | 6.00% | 5.75% | 5.75% | 5.25% |
| Federal Bank | Private | 5.10% | 5.50% | 5.35% | 5.35% | 5.50% | 5.50% |
| Fincare Small Finance Bank | Small Bank | x | x | x | x | x | x |
| HDFC Bank | Private | 4.90% | 4.90% | 5.15% | 5.30% | 5.30% | 5.50% |
| ICICI Bank | Private | 4.90% | 5.00% | 5.15% | 5.35% | 5.35% | 5.50% |
| IDBI Bank | Private | 4.90% | 5.00% | 5.25% | 5.25% | 5.25% | 5.25% |
| IDFC First Bank | Private | 5.75% | 5.75% | 6.00% | 6.00% | 6.00% | 5.75% |
| Indian Bank | Government | 5.00% | 5.10% | 5.25% | 5.25% | 5.25% | 5.15% |
| Indian Overseas Bank | Government | 5.20% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% |
| Indus Ind Bank | Private | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.25% |
| J&K Bank | Government | 5.10% | 5.20% | 5.30% | 5.30% | 5.30% | 5.30% |
| Jana Small Finance Bank | Small Bank | 6.25% | 6.50% | 6.50% | 6.75% | 6.75% | 6.00% |
| Karnataka Bank | Private | 5.20% | 5.50% | 5.50% | 5.50% | 5.50% | 5.60% |
| Karur Vysya Bank | Private | 5.50% | 5.50% | 5.65% | 5.65% | 5.75% | 5.75% |
| Kotak Mahindra Bank | Private | 4.50% | 5.00% | 5.10% | 5.25% | 5.30% | 5.30% |
| Nainital Bank | Private | 5.25% | 5.35% | 5.35% | 5.35% | 5.35% | 5.35% |
| North East Small Finance Bank | Small Bank | 6.75% | 6.75% | 6.75% | 6.50% | 6.50% | 6.25% |
| Post Office Time Deposit | Post Office | 5.50% | 5.50% | 5.50% | x | 6.70% | x |
| Punjab and Sind Bank | Government | 5.15% | 5.15% | 5.30% | 5.30% | 5.30% | 5.30% |
| Punjab National Bank | Government | 5.10% | 5.10% | 5.25% | 5.25% | 5.25% | 5.25% |
| Ratnakar Bank | Private | 6.10% | 6.10% | 6.30% | 6.30% | 6.30% | 6.00% |
| South Indian Bank | Private | 5.40% | 5.40% | 5.50% | 5.50% | 5.65% | 5.50% |
| Standard Charted Bank | Foreign | 5.30% | 5.40% | 5.35% | 5.35% | 5.35% | x |
| State Bank of India | Government | 4.40% | 5.10% | 5.30% | 5.30% | 5.30% | 5.40% |
| Suryoday Small Finance Bank | Small Bank | 6.75% | 7.00% | 7.10% | 7.10% | 7.25% | 6.50% |
| Tamilnad Mercantile Bank | Private | 5.75% | 5.75% | 5.65% | 5.50% | 5.50% | 5.50% |
| UCO Bank | Government | 4.90% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
| Ujjivan Small Finance Bank | Small Bank | 6.50% | 6.75% | 6.75% | 6.75% | 6.75% | 5.80% |
| Union Bank of India | Government | 5.30% | 5.30% | 5.50% | 5.55% | 5.55% | 5.60% |
| Utkarsh Small Finance Bank | Small Bank | 6.75% | 6.75% | 6.75% | 6.75% | 6.75% | 6.75% |
| Yes Bank | Private | 6.00% | 6.25% | 6.50% | 6.50% | 6.75% | 6.75% |
Best way to Double your Money
Who does not want more and wouldnβt you love to Double your money? For sure we all would β we have listed 7 authentic investments which you can use to double your money. The post talks not only about the returns but also the risks associated with each investment.
Fixed Deposit Interest Rates FAQs
β Which is the best fixed deposit scheme in India?
The highest interest rate on fixed deposit is offered by Jana Small Finance Bank (1188 Days – 1191 Days) at 7.51%. In traditional banks DCB Bank and Yes Bank are offering 6.75% for 36 months to 120 months tenure.
β What is best FD for less than year?
The highest interest rate is offered by ESAF Small Finance Bank (183 days to 727 days) at 6.50%. In traditional banks DCB Bank offers 5.95% for 6 months to less than 12 months tenure
β What is the top Fixed Deposit Interest Rates for 1 year in banks?
The best FD interest rates for 1 year deposit is offered by Jana Small Finance Bank (366 β 1095 Days) and Utkarsh Small Finance Bank (700 Days) at 7.00%. In traditional banks DCB Bank offers 6.70% for 700 days tenure
β What is the top Fixed Deposit Interest Rates for 2 years in banks?
The best FD interest rates for 2 years is offered by Jana Small Finance Bank and Suryoday Small Finance Bank at 7.00%. In traditional banks DCB Bank offers 6.50%.
β What is the top Fixed Deposit Interest Rates for 3 years in banks?
Jana Small Finance Bank offers 7.5% for 366 β 1095 Days FD. DCB Bank & Yes Bank offers 6.75% for 3 year fixed deposit scheme.
β What is the top Fixed Deposit Interest Rates for 5 years in banks?
Jana Small Finance Bank and Suryoday Small Finance Bank offers 7.25% for 5 year fixed deposit scheme. DCB Bank & Yes Bank offers 6.75% for 36 months to 20 months tenure.
β What is the top Fixed Deposit Interest Rates for more than 5 years in banks?
Most banks offer FD up to 10 years tenure. DCB Bank, Yes bank and Utkarsh Small Finance Bank offers 6.75% for 10 year deposit.
β What is the maximum tenure of bank fixed deposits?
Most bank offer FD up to 10 years. However Ratnakar bank and IDBI bank offer deposits up to 20 years.
β Are Bank FDs safe?
Generally speaking bank FDs are safe as banks are rigorously monitored by RBI. The FD in Government owned banks like SBI, PNB are the safest. This is because government would intervene and pay the depositors. Next is big private banks like ICICI & HDFC followed by smaller private banks. After this we have small finance banks. Co-operative banks are worst of the lot and I would not trust them with my money. So until there are compelling circumstances keep away from co-operative banks. You can learn from recent example where Yes Bank was rescued by the government and no depositors suffered. However depositors of PMC Bank (a co-operative bank) are still suffering. You can learn more about this in our detailed article about How safe is your Bank Fixed Deposit?
β Which is better investment β Mutual Funds or Fixed Deposits?
The investment pre-tax return is almost similar for fixed deposit and liquid mutual funds. However SWP in liquid mutual funds provide a tax efficient way of generating regular income. So, liquid mutual funds is better for you if you are investment savvy, can bear some risk and are in higher tax bracket. Else stay with FD in well known banks.
β How is FD taxed?
The interest earned on fixed deposit is taxable as per your income tax slab. For senior citizens an additional exemption of Rs 50,000 under section 80TTB is available for interest income from banks/post office.
β What are the advantages of fixed deposits?
FDs are popular as it have various advantages:
β Its safe especially if you stay with Public or large private banks or post office
β It has guaranteed returns
β its easy to understand and handle
β What are the disadvantages of fixed deposits?
The biggest disadvantage of FD is the interest offered on FD hardly beats inflation. And even if it beats inflation, it does not especially for higher tax brackets. This way you actually loose value of money in the long run.
The second disadvantage is unpredictability of interest rate. Interest rates go up and down. In case your FD matures when the interest rate is low, you may not be able to invest and generate the same returns as you used to do earlier.
β Can I get loan on my fixed deposit?
Yes most banks offer loans up to 90% to 95% of fixed deposit. Not only this some banks also offer credit card against fixed deposits.
β Can I get monthly interest from my fixed deposit?
The interest rates mentioned on bank websites are for cumulative FD. However if you want to receive monthly income from FD, you need to contact the bank. Most banks have the arrangement where they can pay you monthly interest. A point to note the interest would be lower than what you see on the website. This is because the interest rates on websites are for quarterly compounding but if you want monthly payment, the interest rate has to be adjusted accordingly. You can also look out for products similar to Post Office MIS.
thanks for this update.. I think Indian overseas bank has improved its rates..
Hi,
Pls advise if RBL Bank is safe for FDβs.
Dear Amit,
Thanks for taking the pains of updating the rate information every month in such a timely and comprehensive manner!
Good information. Will you please clarify, whether any bank is accepting deposits online i.e. without SB account and visiting the branch by providing all KYC details and funding through RTGS?
Some banks like IDFC do. Youβll need to speak to bank you are interested in to know the complete process.
Thank you so much for the information.
Want to buy online.. is it possible ?
Kindly enlighten me on Jana small finance bank.is it a scheduled bank or like Ujjivan/utkarsh /fincare/suryoday or has different license than small finance bank
Yes Jana is small bank like Ujjivan/utkarsh /fincare/suryoday
Need to invest 5 lacks, which one is good
need to invest 10,00,000
Please release a list of Bank Ranking based on financial position of bank and performance of bank and negetive or alert comments on banks
Updated interest rates information surely prompts Investors to take correct decisions with full knowledge of facts and figures.
Nevertheless it appears to me that Senior Citizens should not be lured by Rs 500 or Rs 1000 like difference per lakh and go on increasing number of Banks for investment keeping in view time and effort on part of their successors running from pillar to post to comply with procedural formalities for transfer or closure etc after death
Amit I was going through many websites and I have to say this is the best one. Everything is explained in a very simple way.
I sincerely appreciate your effort. I can also see that you respond to all most every comment which is superb
Thanks for sharing the article. But Which one is the best option for FD or Mutual Fund. How Government policy affected the Mutual Fund.