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

The post lists down the rate of interest on Bank fixed deposits as of June 1, 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. SBI has changed its FD rates. It has increased for 1 year deposit but reduced or remained same for most other tenures.
  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 Lakshmi Vilas Bank (450 days) at 8.40%.

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%
Ratnakar Bank241 days to 364 days7.35%
Indus Ind Bank270 days to below 1 years7.25%
Ratnakar Bank181 days to 240 days7.25%
Ratnakar Bank91 days to 180 days7.15%
Yes Bank9 months to < 1 Year7.15%
Axis Bank9 months  <  1 year 25 days7.10%
HDFC Bank9 mnths 1 day < 1 Year7.10%
Kotak Mahindra Bank364 Days7.10%
J&K Bank271 days to less than 1 year7.05%
City Union Bank181 days to 364 days7.00%
DCB Bank6 months to less than 12 months7.00%
IDFC First Bank181 – 365 days7.00%
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%
Karur Vysya Bank91 Days to 180 Days6.90%
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%
City Union Bank91 days to 180 days6.75%
DCB Bank91 days to less than 6 months6.75%
IDFC First Bank91 – 180 days6.75%
Karur Vysya Bank181 Days to less than 1 year6.75%
Kotak Mahindra Bank271 Days to 363 Days6.75%
Tamilnad Mercantile Bank180 days – 270 days6.75%
Union Bank of India10 Month to 14 Month6.75%
Allahabad Bank155 days6.50%
South Indian Bank91 days to less than 1 year6.50%
State Bank of IndiaGovernment Bank Benchmark5.75% – 6.40%
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 Lakshmi Vilas Bank (450 days) at 8.40%.

BankDescriptionInterest Rate
Lakshmi Vilas Bank450 Days8.40%
IDFC First Bank731 days8.25%
DCB Bank18 months8.15%
DCB Bank15 months to 24 months8.05%
Ratnakar Bank12 months to less than 24 months8.00%
Repco BankRepco Mahila (18 Months, Exclusively for Women)7.80%
Deutsche Bank1 Year to less than 1.5 Years7.75%
IDFC First Bank366 – 730 days7.75%
Indus Ind Bank1 Years 4 Months to below 3 Years7.75%
Repco Bank1 Year & Above – 2 years7.70%
Bandhan BankAbove 18 months to less than 2 years7.65%
Yes Bank2 years to less than 3 years7.65%
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%
DCB Bank24 months7.50%
Deutsche Bank1.5 Years to less than 5 Years7.50%
Digibank by DBS1 year to 15 months7.50%
Standard Charted Bank18 Months – 2 Years7.50%
DCB Bank12 months 1 day to less than 15 months7.40%
South Indian Bank1 year7.40%
Standard Charted Bank1 Year – 375 days7.40%
Bandhan Bank1 year to 18 months7.35%
City Union Bank365 days – 5 Years7.35%
Axis Bank1 year 25 days < 3 years7.30%
Federal Bank550 days7.30%
Federal BankAbove 1 year to 2 Years7.30%
HDFC Bank1 year – 2 Years7.30%
J&K Bank1 year to less than 5 years7.30%
Karnataka Bank1 year to 2 years7.30%
Kotak Mahindra Bank390 Days (12 months 25 days)7.30%
Kotak Mahindra Bank390 Days (12 months 25 days)7.30%
Dhanalakshmi Bank500 Days7.25%
IDBI Bank1 year7.25%
Karur Vysya Bank1 year to less than 2 years7.25%
Kotak Mahindra Bank391 Days – 23 Months7.25%
Tamilnad Mercantile Bank1 Year7.25%
Yes Bank1 Year <= 10 years7.25%
IDBI Bank>1yrs to  2yrs7.20%
Kotak Mahindra Bank365 Days to 389 Days ; 23 months 1 Day- less than 2 years7.20%
Syndicate BankAbove 2 to less than 5 yrs7.15%
Axis Bank1 year < 1 year 25 days7.10%
Kotak Mahindra Bank2 years- less than 3 years7.10%
Syndicate Bank500 days exact7.05%
Bank of Baroda444 days7.00%
Corporation Bank666 days only7.00%
DCB Bank6 months to 12 months7.00%
Dhanalakshmi Bank365 days and above upto & inclusive of 2 years7.00%
Digibank by DBS15 months 1 day to less than 5 Years7.00%
Punjab National Bank1 year7.00%
South Indian BankAbove 1 year to up to and incl. 2 years7.00%
Standard Charted Bank376 days < 18 Months7.00%
Syndicate Bank400 days exact7.00%
Tamilnad Mercantile Bank1 Year to less than 3 Years7.00%
State Bank of IndiaGovernment Bank Benchmark7.00%
ICICI BankPrivate Bank Benchmark6.90% – 7.10%
Post Office FD (1 year)Post Office7.00%
Post Office FD (2 years)Post Office7.00%

Click for Best Interest Rate on Recurring Deposits

Interest Rate for Fixed Deposit of 2 – 5 Years

The highest interest rate is offered by Deutsche Bank (5 Years) & DCB Bank (36 months) at 8.25%

BankDescriptionInterest Rate
DCB Bank36 months8.25%
Deutsche Bank5 Years8.25%
Ratnakar Bank24 months to less than 36 months8.05%
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 years7.65%
City Union Bank1000 Days7.60%
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%
Bandhan Bank2 years to less than 7 years7.50%
Deutsche Bank1.5 Years to less than 5 Years7.50%
IDFC First Bank732 – 5 Years7.50%
Indus Ind Bank3 years to below 61 Months7.45%
South Indian Bank2 years to upto and incl. 3 years7.45%
Federal BankAbove 2 years to less than 3 years7.40%
HDFC Bank2 years – 3 Years7.40%
City Union Bank365 days – 5 Years7.35%
Axis Bank1 year 25 days < 3 years7.30%
IDBI Bank1100 Days7.30%
J&K Bank1 year to less than 5 years7.30%
Axis Bank3 years < 5 years7.25%
Federal Bank3 years and above7.25%
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%
Syndicate BankAbove 2 to less than 5 yrs7.15%
Kotak Mahindra Bank2 years- less than 3 years7.10%
IDBI Bank>2 yrs to < 3 yrs7.05%
Digibank by DBS15 months 1 day to less than 5 Years7.00%
Karur Vysya Bank2 years and above7.00%
Kotak Mahindra Bank3 years and above but less than 5 years7.00%
Oriental Bank of Commerce1 Year to less than 2 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%
Tamilnad Mercantile Bank3 Years & above6.90%
State Bank of IndiaGovernment Bank Benchmark6.70% – 6.75%
ICICI BankPrivate Bank Benchmark7.25% – 7.50%
Post Office FD (2 years)Post Office7.00%
Post Office FD (3 years)Post Office7.00%
Post Office FD (5 years)Post Office7.80%


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 Ratnakar Bank (36 months to less than 120 months) at 7.60%.

BankDescriptionInterest Rate
Ratnakar Bank36 months to less than 120 months7.60%
Bandhan Bank2 years to less than 7 years7.50%
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%
Federal Bank3 years and above7.25%
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%
Axis Bank5 years to 10 years7.00%
Digibank by DBS15 months 1 day to less than 5 Years7.00%
Karur Vysya Bank2 years and above7.00%
State Bank of IndiaGovernment Bank Benchmark6.60%
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: June 1, 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 - June 2019

Highest Interest Rate on Bank Fixed Deposits – June 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), Suryoday Small Finance Bank (950 Days) & Utkarsh Small Finance Bank (456 Days to less than 2 years) offers 9%  while SBI (for 24 to 36 months deposit) offers 6.75% 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%8.20%8.55%8.55%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%8.50%9.00%8.50%8.50%7.00%
Suryoday Small Finance Bank 7.75%8.50%8.75%9.00%8.00%8.25%7.25%
Ujjivan Small Finance Bank7.50%8.30%8.60%7.50%7.00%7.00%6.50%
Utkarsh Small Finance Bank7.50%8.50%9.00%7.85%7.00%8.00%7.00%
SBI6.40%7.00%6.75%6.70%6.70%6.60%6.60%

                                                                                 Updated: June 1, 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%7.30%7.30%7.25%7.25%7.00%
Bandhan Bank7.35%7.65%7.50%7.50%7.50%7.50%
Bank of Baroda6.85%7.00%6.70%6.70%6.70%6.70%
Bank of India6.70%6.75%6.50%6.50%6.50%6.50%
Bank of Maharashtra6.50%6.50%6.50%6.25%6.25%6.25%
Canara Bank6.75%6.70%6.60%6.00%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%6.55%6.55%6.55%6.55%
Citibank5.50%6.50%6.50%6.00%6.00%6.00%
City Union Bank7.35%7.35%7.60%7.35%7.35%6.70%
Corporation Bank6.80%7.00%6.50%6.50%6.50%6.50%
DCB Bank7.40%8.15%8.25%7.75%7.75%7.25%
Deutsche Bank7.75%7.50%7.50%7.50%8.25%NA
Dhanalakshmi Bank7.00%7.25%6.50%6.50%6.50%6.50%
Federal Bank7.30%7.40%7.40%7.25%7.25%7.25%
HDFC Bank7.30%7.30%7.40%7.25%7.25%6.50%
ICICI Bank6.90%7.10%7.50%7.25%7.25%7.00%
IDBI Bank7.25%7.20%7.30%6.85%6.85%6.25%
IDFC First Bank7.75%8.25%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 Bank7.30%7.30%7.00%7.00%7.00%6.50%
Karur Vysya Bank7.25%7.25%7.00%7.00%7.00%7.00%
Kotak Mahindra Bank7.20%7.10%7.00%7.00%7.00%6.50%
Lakshmi Vilas Bank7.75%8.40%7.85%7.85%7.85%7.85%
Oriental Bank of Commerce7.00%6.75%6.75%6.70%6.75%6.75%
Post Office Time Deposit7.00%7.00%7.00%NA7.80%NA
Punjab and Sind Bank7.00%6.80%6.80%6.55%6.55%6.55%
Punjab National Bank7.00%6.85%6.75%6.25%6.25%6.25%
Ratnakar Bank8.00%8.05%7.60%7.60%7.60%7.60%
Repco Bank7.70%7.70%7.00%7.00%7.00%NA
South Indian Bank7.40%7.45%7.25%7.25%7.25%7.25%
Standard Charted Bank7.40%7.50%7.00%6.50%6.50%NA
State Bank of India7.00%6.75%6.70%6.70%6.60%6.60%
Syndicate Bank6.70%7.15%7.15%7.15%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 Bank7.25%7.65%7.65%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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247 thoughts on “Highest Interest Rate on Bank Fixed Deposits (FD) – June 2019

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

  2. 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

  3. Praveen Hulkund says:

    Need to invest 5 lacks, which one is good

  4. Dr. Kumar Navodit Manav says:

    need to invest 10,00,000

  5. 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

  6. 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

  7. 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

  8. 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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