Highest Interest Rate on Bank Fixed Deposits (FD) – August 2019

The post lists down the rate of interest on Bank fixed deposits as of August 5, 2019.

You might want to bookmark this page as the FD interest rates would be updated every month. Would help you in better decision making.

Fixed Deposit Highlights

  1. Most big banks like SBI, HDFC, Axis, have lowered their FD rates. Its good time to lock FD for long term as rates may go down further.
  2. Most banks offer FDs for tenure of 7 Days to 10 Years.
  3. The Ratnakar Bank & IDBI Bank do offer fixed deposits up to 20 years too.
  4. 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.
  5. Most banks compound interest quarterly
  6. 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.
  7. 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)
  8. In case of Senior citizens TDS would be deducted at the rate of 10%, if the interest income exceeds Rs 50,000
  9. There might be penalty for pre-mature withdrawal of Fixed Deposits

Fixed Deposit Interest Rates

The highest interest rate on fixed deposit is offered by IDFC First Bank (2 years) at 8.50%.

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.

Interest Rate for FD of Less than 1 Year

The highest interest rate is offered by Lakshmi Vilas Bank (331-364 days) at 7.75%.

BankDescriptionInterest Rate
Lakshmi Vilas Bank331-364 days7.75%
Lakshmi Vilas Bank181 – 330 days7.65%
Indus Ind Bank270 days to below 1 years7.25%
Ratnakar Bank241 days to 364 days7.25%
Yes Bank9 months to < 1 Year7.15%
J&K Bank271 days to less than 1 year7.10%
Ratnakar Bank91 days to 240 days7.05%
City Union Bank181 days to 364 days7.00%
DCB Bank6 months to less than 12 months7.00%
IDFC First Bank181 days – 1 year7.00%
Indus Ind Bank181 days to 269 days7.00%
Lakshmi Vilas Bank151-180 days7.00%
Ratnakar Bank46 days to 90 days7.00%
Repco Bank90 days – 364 days7.00%
Standard Charted Bank181-364 days7.00%
Kotak Mahindra Bank280 Days to Less than 12 Months6.90%
Yes Bank6 months to < 9 months6.85%
Bandhan Bank6 months to less than 1 year6.80%
Tamilnad Mercantile Bank271 days – < 12 months6.80%
Allahabad Bank333 days6.75%
Axis Bank9 months  <  1 year6.75%
City Union Bank91 days to 180 days6.75%
HDFC Bank9 mnths 1 day < 1 Year6.75%
IDFC First Bank91 – 180 days6.75%
Karur Vysya Bank91 Days to 180 Days6.75%
Kotak Mahindra Bank181 Days to 270 Days6.75%
Tamilnad Mercantile Bank180 days – 270 days6.75%
Union Bank of India10 Month to 14 Month6.75%
Karur Vysya Bank181 Days to less than 1 year6.60%
Allahabad Bank155 days6.50%
DCB Bank91 days to less than 6 months6.50%
South Indian Bank92 days to 110 days6.50%
State Bank of IndiaGovernment Bank Benchmark5.00% – 6.25%
ICICI BankPrivate Bank Benchmark4.00% – 6.75%

Also Read: 21 Hidden Charges in Saving Bank Account

Interest Rate for Fixed Deposit of 1 – 2 Years

The highest interest rate is offered by IDFC First Bank (2 Years) at 8.50%.

BankDescriptionInterest Rate
IDFC First Bank2 years8.50%
Lakshmi Vilas Bank450 Days8.40%
Ratnakar Bank12 months to less than 24 months7.90%
DCB Bank18 months7.85%
Yes Bank12 Months 10 Days to 12 Months 20 Days7.85%
DCB Bank15 months to 24 months7.80%
Repco BankRepco Mahila (18 Months, Exclusively for Women)7.80%
IDFC First Bank1 year 1 day – less than 2 years7.75%
Indus Ind Bank1 Years 4 Months to below 3 Years7.75%
Yes Bank2 years to less than 3 years7.75%
Repco Bank1 Year & Above – 2 years7.70%
Indus Ind Bank1 Years to below 1 Years 4 Months7.60%
Lakshmi Vilas Bank1 Year to less than 3 years7.60%
Yes Bank18 Months 8 Days to 18 Months 18 Days7.55%
Bandhan BankAbove 18 months to less than 2 years7.50%
DCB Bank24 months7.50%
Digibank by DBS1 year to 15 months7.50%
DCB Bank12 months 1 day to less than 15 months7.40%
Bandhan Bank1 year to 18 months7.35%
City Union Bank1 year7.35%
Deutsche Bank1 Year to less than 1.5 Years7.35%
J&K Bank1 year to less than 5 years7.30%
South Indian Bank1 year to up to and including 3 years7.30%
Federal Bank20 months7.25%
Tamilnad Mercantile Bank1 Year7.25%
Yes Bank1 Year <= 10 years7.25%
Axis Bank1 year 25 days < 14 months7.20%
Standard Charted Bank18 Months – 2 Years7.20%
Standard Charted Bank1yr  – 375days7.20%
Axis Bank1 year < 1 year 25 days7.10%
HDFC Bank1 year 17 days – 2 Years7.10%
IDBI Bank1 year7.10%
Karnataka Bank1 year to 2 years7.10%
Karur Vysya Bank1 year to less than 2 years7.10%
IDBI Bank>1yrs to  2yrs7.05%
Axis Bank14 months < 5 years7.00%
City Union BankAbove 1 year to 5 years7.00%
Corporation Bank666 days only7.00%
DCB Bank6 months to 12 months7.00%
Deutsche Bank1.5 Years to less than 3 Years7.00%
Dhanalakshmi Bank1 Year and above upto & inclusive of 2 years7.00%
Federal BankAbove 1 year7.00%
HDFC Bank1 year – 1 Year 16 days7.00%
Kotak Mahindra Bank12 months and above but less than 3 years7.00%
Punjab National Bank1 year7.00%
Standard Charted Bank376 days < 18 Months7.00%
Tamilnad Mercantile Bank1 Year to less than 3 Years7.00%
State Bank of IndiaGovernment Bank Benchmark6.80%
ICICI BankPrivate Bank Benchmark6.90% – 7.00%
Post Office FD (1 year)Post Office6.90%
Post Office FD (2 years)Post Office6.90%

Click for Best Interest Rate on Recurring Deposits

Interest Rate for Fixed Deposit of 2 – 5 Years

The highest interest rate is offered by DCB Bank (36 months), Deutsche Bank (5 Years) & Ratnakar Bank (24 months to less than 36 months) at 8.00%

BankDescriptionInterest Rate
DCB Bank36 months8.00%
Deutsche Bank5 Years8.00%
Ratnakar Bank24 months to less than 36 months8.00%
DCB Bank36 months to 60 months7.75%
Indus Ind Bank1 Years 4 Months to below 3 Years7.75%
Lakshmi Vilas Bank3 Years to 10 Years7.75%
Yes Bank2 years to less than 3 years7.75%
Bandhan Bank2 years to less than 10 years7.65%
DCB Bank24 months to 36 months7.60%
Lakshmi Vilas Bank1 Year to less than 3 years7.60%
Ratnakar Bank36 months to less than 120 months7.60%
IDFC First Bank2 years 1 day – 5 years7.50%
Indus Ind Bank3 years to below 61 Months7.45%
HDFC Bank2 years 1day – 3 Years7.30%
J&K Bank1 year to less than 5 years7.30%
South Indian Bank1 year to up to and including 3 years7.30%
Deutsche Bank3 Years to less than 5 Years7.25%
HDFC Bank3 years 1day – 5 years7.25%
South Indian Bank3 years and above up to and incl. 10 years7.25%
Yes Bank1 Year <= 10 years7.25%
Karur Vysya Bank2 Years to less than 3 Years7.05%
Axis Bank14 months < 5 years7.00%
City Union BankAbove 1 year to 5 years7.00%
Deutsche Bank1.5 Years to less than 3 Years7.00%
Federal BankAbove 1 year7.00%
Karur Vysya Bank3 Years and above7.00%
Kotak Mahindra Bank12 months and above but less than 3 years7.00%
Repco BankAbove 2 years – 5 Years7.00%
Standard Charted Bank2 Years – 3 Years7.00%
Tamilnad Mercantile Bank1 Year to less than 3 Years7.00%
State Bank of IndiaGovernment Bank Benchmark6.60% – 6.70%
ICICI BankPrivate Bank Benchmark7.25% – 7.30%
Post Office FD (2 years)Post Office6.90%
Post Office FD (3 years)Post Office6.90%
Post Office FD (5 years)Post Office7.70%

Also Read: Where to Park Money for Very Short Term [less than 6 Months]?

Interest Rate for Fixed Deposit of 5 – 10 Years

The highest interest rate is offered by Bandhan Bank (2 years to less than 10 years) at 7.65%.

BankDescriptionInterest Rate
Bandhan Bank2 years to less than 10 years7.65%
Ratnakar Bank36 months to less than 120 months7.60%
Lakshmi Vilas Bank12 Months to 120 Months7.50%
Indus Ind Bank3 years to below 61 Months7.45%
DCB BankMore than 60 months to 120 months7.25%
IDFC First Bank5 years 1 Day – 10 years7.25%
Indus Ind Bank61 month and above7.25%
South Indian Bank3 years and above up to and incl. 10 years7.25%
Yes Bank1 Year <= 10 years7.25%
Digibank by DBS5 years and above7.00%
Federal BankAbove 1 year7.00%
HDFC Bank5 years 1day – 10 Years7.00%
Karur Vysya Bank3 years and above7.00%
State Bank of IndiaGovernment Bank Benchmark6.50%
ICICI BankPrivate Bank Benchmark7.00%

Interest Rate for Fixed Deposit of more than 10 Years

The Ratnakar Bank and IDBI bank offers fixed deposit of up to 20 years.

BankDescriptionInterest Rate
Ratnakar Bank121 months to less than 240 months7.20%
IDBI Bank10 Years to 20 Years6.00%


Source:
Bank Websites                                 Last Updated: August 5, 2019

Disclaimer: The Fixed Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD.

Highest Interest Rate on Bank Fixed Deposits - August 2019

Highest Interest Rate on Bank Fixed Deposits – August 2019

Also Read:13 Investments to Generate Regular Income

Small Banks Fixed Deposit Interest Rates

The table below compares the interest rate offered by Small banks to that of SBI. The difference is substantial for low tenure deposits. Fincare Bank (24 months 1 day to 36 months) offers 9%  while SBI (for 24 to 36 months deposit) offers 6.70% only.   

 Banks <1 year1 Year2 Years3 Years4 Years5 Years5 Year+
AU Small Finance Bank 7.01%7.01%7.87%8.10%7.77%7.77%7.30%
Capital Small Finance Bank 7.15%7.80%7.80%7.80%7.80%7.65%7.40%
Equitas Small Finance Bank7.50%8.00%8.30%8.30%7.00%7.00%7.00%
ESAF Small Finance Bank 7.50%8.50%8.50%7.30%7.30%7.30%7.30%
Fincare Small Finance Bank 7.00%8.00%9.00%9.00%8.00%8.00%7.00%
Jana Small Finance Bank8.50%8.50%8.60%8.50%8.00%8.00%6.75%
Suryoday Small Finance Bank 7.75%8.35%8.75%8.75%8.00%8.25%7.25%
Ujjivan Small Finance Bank7.50%8.10%8.10%8.50%7.00%7.00%6.50%
Utkarsh Small Finance Bank7.50%8.50%9.00%7.85%7.00%8.00%7.00%
SBI6.25%6.80%6.80%6.70%6.60%6.50%6.50%

                                                                                 Updated: August 5, 2019  

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

Small Bank FDs offer interest up to 9% – Should you invest?

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

Fixed Deposit Interest Rate across all 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.

Banks1 Years2 Years3 Years4 Years5 Years5+ Years
Allahabad Bank6.75%6.60%6.50%6.50%6.50%6.50%
Andhra Bank6.80%6.80%6.75%6.75%6.75%6.50%
Axis Bank7.10%7.00%7.00%7.00%6.75%6.75%
Bandhan Bank7.35%7.65%7.65%7.65%7.65%7.65%
Bank of Baroda6.45%6.60%6.45%6.45%6.45%6.45%
Bank of India6.50%6.50%6.50%6.50%6.50%6.50%
Bank of Maharashtra6.50%6.50%6.50%6.25%6.25%6.25%
Canara Bank6.70%6.50%6.40%6.40%6.00%6.00%
Catholic Syrian Bank7.00%6.75%6.75%6.50%6.50%6.50%
Central Bank of India6.65%6.65%6.45%6.45%6.45%6.45%
Citibank5.50%6.50%6.50%6.00%6.00%6.00%
City Union Bank7.35%7.00%7.00%7.00%7.00%6.70%
Corporation Bank6.80%7.00%6.50%6.50%6.50%6.50%
DCB Bank7.40%7.85%8.00%7.75%7.75%7.25%
Deutsche Bank7.35%7.00%7.25%7.25%8.00%NA
Dhanalakshmi Bank7.00%7.00%6.50%6.50%6.50%6.50%
Digibank by DBS7.50%6.75%6.75%6.75%7.00%7.00%
Federal Bank7.00%7.25%7.00%7.00%7.00%7.00%
HDFC Bank7.00%7.30%7.30%7.25%7.25%7.00%
ICICI Bank6.90%7.00%7.30%7.25%7.25%7.00%
IDBI Bank7.10%7.05%6.90%6.85%6.85%6.25%
IDFC First Bank7.75%8.50%7.50%7.50%7.50%7.25%
Indian Bank6.75%6.60%6.75%6.75%6.90%6.50%
Indian Overseas Bank6.60%6.75%6.80%6.80%6.80%6.80%
Indus Ind Bank7.60%7.75%7.75%7.35%7.35%7.25%
J&K Bank7.30%7.30%7.30%7.30%7.30%6.50%
Karnataka Bank7.10%7.10%7.00%7.00%7.00%6.50%
Karur Vysya Bank7.10%7.05%7.00%7.00%7.00%7.00%
Kotak Mahindra Bank7.00%7.00%7.00%6.90%6.75%6.50%
Lakshmi Vilas Bank7.75%8.40%7.85%7.85%7.85%7.85%
Oriental Bank of Commerce6.85%6.75%6.75%6.70%6.75%6.75%
Post Office Time Deposit6.90%6.90%6.90%NA7.70%NA
Punjab and Sind Bank7.00%6.80%6.80%6.55%6.55%6.55%
Punjab National Bank6.75%6.85%6.75%6.50%6.50%6.50%
Ratnakar Bank7.90%8.00%7.60%7.60%7.60%7.60%
Repco Bank7.70%7.70%7.00%7.00%7.00%NA
South Indian Bank7.30%7.30%7.30%7.25%7.25%7.25%
Standard Charted Bank7.20%7.20%7.00%6.50%6.50%NA
State Bank of India6.80%6.70%6.60%6.60%6.50%6.50%
Syndicate Bank6.50%6.70%6.50%6.50%6.50%6.50%
Tamilnad Mercantile Bank7.25%7.00%7.00%6.90%6.90%6.90%
UCO Bank6.60%6.50%6.50%6.50%6.50%6.50%
Union Bank of India6.75%6.60%6.60%6.70%6.70%6.70%
United Bank of India6.25%6.25%6.25%6.00%6.00%6.00%
Yes Bank7.85%7.75%7.75%7.25%7.25%7.25%

Bank FD Interest

The post compares the interest rate across all major banks in India. This would help you choose the best offering across banks and tenures.

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251 thoughts on “Highest Interest Rate on Bank Fixed Deposits (FD) – August 2019

  1. Reetesh Vadodaria says:

    Dear Amit,

    Thanks for taking the pains of updating the rate information every month in such a timely and comprehensive manner!

  2. KANDAVELU S says:

    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?

  3. Want to buy online.. is it possible ?

  4. Pankaj Kumar says:

    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

  5. Praveen Hulkund says:

    Need to invest 5 lacks, which one is good

  6. Dr. Kumar Navodit Manav says:

    need to invest 10,00,000

  7. naresh sharma says:

    Please release a list of Bank Ranking based on financial position of bank and performance of bank and negetive or alert comments on banks

  8. K V Subba Rao says:

    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

  9. 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

  10. Thanks for sharing the article. But Which one is the best option for FD or Mutual Fund. How Government policy affected the Mutual Fund.

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