{"id":5377,"date":"2021-06-02T02:00:00","date_gmt":"2021-06-01T20:30:00","guid":{"rendered":"http:\/\/www.apnaplan.com\/?page_id=5377"},"modified":"2021-06-02T14:00:59","modified_gmt":"2021-06-02T08:30:59","slug":"highest-interest-rate-on-bank-fixed-deposits-fd","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/","title":{"rendered":"Top Fixed Deposit Interest Rates \u2605 June 2021"},"content":{"rendered":"\n

The post lists down the rate of Fixed Deposit Interest Rates<\/strong><\/span> as of June 1, 2021<\/strong>. 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<\/p>\n\n\n\n

Fixed Deposit Highlights<\/h2>\n\n\n\n
  1. Most banks offer FDs for<\/span> tenure of 7 Days to 10 Years.<\/strong><\/li>
  2. The Ratnakar Bank & IDBI Bank do offer fixed deposits up to 20 years too<\/strong>.<\/span><\/li>
  3. For very short Term Deposits the interest rate is similar to that of Savings Account and so you should not worry about FD. Also <\/span>Interest up to Rs 10,000 in Saving Account is Tax free<\/a>.<\/span><\/li>
  4. Most banks <\/span>compound interest quarterly<\/strong><\/li>
  5. Most New Small Finance Banks<\/strong> offer higher interest rate across tenures.<\/li>
  6. Banks offer Loan\/Overdraft against the amount available in Fixed Deposit<\/strong>. The interest is generally 0.5% to 1% more than that offered to FD.<\/span><\/li>
  7. TDS (Tax deduction at source) at the rate of 10%<\/strong> 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<\/a>)<\/span><\/li>
  8. In case of Senior citizens TDS would be deducted at the rate of 10%, if the interest income exceeds Rs 50,000<\/a><\/li>
  9. In case the PAN number is not updated with the bank, the TDS rate is 20%<\/li>
  10. There might be penalty for pre-mature withdrawal<\/strong> of Fixed Deposits<\/span><\/li><\/ol>\n\n\n\n

    Top Fixed Deposit Interest Rates<\/h2>\n\n\n\n

    The highest interest rate on fixed deposit is offered by Suryoday Small Finance Bank (5 Years) at 7.25%.<\/strong> <\/strong><\/p>\n\n\n\n

    In traditional banks Yes Bank is offering 6.75% for 5 Years to <= 10 years tenure.<\/strong><\/strong><\/p>\n\n\n\n

    For comparing the best interest rates on fixed deposits over different duration of investment, we have it divided into following 5 slabs:<\/p>\n\n\n\n