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    Bankbazaar Fixed Deposit Rates

    We found 112 Fixed Deposit Rates
    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
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    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 20 Years
    5% - 7.8% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.25% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 7.05% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    15 Days to 20 Years
    4.25% - 7.25% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.5% - 6.8% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.75% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year onwards
    6.25% - 6.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.30% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.80% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
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  • Customer Reviews

    • IndusInd Bank Fixed Deposit
      "Fixed depost"
      0.5 5.0/5 "Blown Away!"
      With INDUDIND, I am holding a NRE so based on which they offered a NRE rate. This was opened and closed. This request was placed online no challenges nor any issues. I did not get any tax benefit for this FD. It was opened on the basis of NRE....
      Was this review helpful? 0
      , thane
      Reviewed on Sep 23, 2017
    • SBI Fixed Deposit
      "My FD"
      0.5 4.0/5 "Great!"
      SBI FD is fine i am holding this SBI FD for about 6 years no drawback nor any Challenges. the rate of interest has come down i have started 9.25% but this year 6.5% flat. it is very easy to book FD online liquidation can be done through online option thee is an option to transfer the amount directly
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 21, 2017
    • Federal Bank Fixed Deposit
      "Nominal interest"
      0.5 4.0/5 "Great!"
      I have invested Rs.50,000 in Federal Bank FD account, it has the tenure of five years, they told they would provide 6.5% of interest for the fixed deposit account. It is not that much great. I am an existing customer of the bank, hence I opened FD with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 20, 2017
    • HDFC Bank Fixed Deposit
      "Its Convenient"
      0.5 5.0/5 "Blown Away!"
      I have taken Fixed deposit from HDFC, I have invested Rs. 10 Lakhs for the tenure of one year, I went to the branch and opened the FD account, my relationship manager helped to open it within two days of time. They are providing 7.5% of interest of one year but I could withdrawal it anytime but some charges applicable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 20, 2017
    • HDFC Bank Fixed Deposit
      "Good for deposits "
      0.5 5.0/5 "Blown Away!"
      We can save and have fixed deposit with less rate of interest in HDFC bank they give benifiatials based on the amount that we deposit .We can with draw and the interest will be added with the minimal balance .I have been using this bank services for a longer time its good i with draw when i need with out any hassle .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 16, 2017
    • Lakshmi Vilas Bank Fixed Deposit
      "Good savings"
      0.5 5.0/5 "Blown Away!"
      I have invested Rs. 3 lakhs it has the tenure one year,I am holding Fixed deposit around Rs. 3 months. After maturity I well receive the interest of 8% and investment amount credits to my account, I am working as a staff in the same bank, hence they provides 8% as a staff for other they give 7% and for senior citizen 7.5% of interest.
      Was this review helpful? 0
      , rajapalayam
      Reviewed on Sep 13, 2017
    • SBI Fixed Deposit
      "Good investment"
      0.5 5.0/5 "Blown Away!"
      I have invested some amount in SBI fixed deposit, last year they gave me 7.5% of interest on it , its has the tenure of one year. Every year I used to go to the home branch to renew the FD, bank response is also quite good. But its not so beneficial, if I would have invest in mutual fund I would have got some extra benefits.
      Was this review helpful? 0
      , gwalior
      Reviewed on Sep 12, 2017
    • ICICI Bank Fixed Deposit
      "FD online"
      0.5 5.0/5 "Blown Away!"
      I can book Fixed Deposit online using ICICI Bank account it is very easy to do the same . I am holding RD account with ICICI for the past 4 years. I do get some tax benefit here. I do have options online for breaking FD.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Sep 12, 2017
    • HDFC Bank Fixed Deposit
      "Banking is good"
      0.5 4.5/5 "Excellent!"
      Very easy to bank with HDFC bank as I hold my salary account with them and I know how the bank functions. The bank executives treat you well. One can place the request for liquidation online and it hardly takes about 2 to 3 days of time for the liquidation.
      Was this review helpful? 0
      , jaipur
      Reviewed on Sep 12, 2017
    • ICICI Bank Fixed Deposit
      "EXCELLENT SERVICE"
      0.5 4.5/5 "Excellent!"
      Excellent service from ICICI always ,they use the technology in a right way transactions are also equally fast . I also use their online application which was also user friendly ,ATM services were also nearby my location so overall it is a satisfactory service from them .
      Was this review helpful? 0
      , noida
      Reviewed on Sep 11, 2017
    • Canara Bank Fixed Deposit
      "Its okay"
      0.5 5.0/5 "Blown Away!"
      Good to invest in CANARA BANK FD. I feel good banking with them. I am holding this FD for a long time. Its very much convenient. Their branch is in my campus so it is very much easy to walk in to the branch to place a request. They took around one day to complete the process even the documents required too was very simple.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 08, 2017
    • SBI Fixed Deposit
      "BEst option for future"
      0.5 5.0/5 "Blown Away!"
      I had invested in SBI FD and this was offered for a period of one year. I had opted it for the maximum tenure period . I had broken that FD for my wedding and I earn good rate of interest on this. The penalty charges levied was not too much and it was kind of okay.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 07, 2017
    • Karur Vysya Bank Fixed Deposit
      "Its Average"
      0.5 3.5/5 "Pretty good"
      I opened the fixed deposit in KVB which is located in my native, interest rate is same like other banks. Customer service is not userfriendly, when I forgot the password to log in my account, I called to the customer care but they didn't give any solution they asked me to visit home branch. But I was living in different location but they did not understand that, they dont have any other option to reset my password. Hence I had withdraw Rs. 2 lakhs from FD account, remaining Rs. 1 lakh was left there.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 07, 2017
    • Punjab National Bank Fixed Deposit
      "PNB is my bank"
      0.5 5.0/5 "Blown Away!"
      PNB is my bank as I worked as a Senior Manager there so I know how the bank works. , Interest rate offered by them was the 1.5% extra than the normal interest rate for FD because I am staff of that bank I get 6.60% for 5years. For senior citizen they give 6.25% plus some additional interest too.
      Was this review helpful? 0
      , jalandhar
      Reviewed on Sep 05, 2017
    • HDFC Bank Fixed Deposit
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the HDFC bank for the last one year of time.Rate of interest is lesser one, also the customer service is very good. Response is very fine one for me like it took only half an hour of time to open the account.
      Was this review helpful? 0
      , lucknow
      Reviewed on Aug 26, 2017
    • Punjab and Sind Bank Fixed Deposit
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the Punjab and sind bank and the interest rate is fine one but am really not aware of it. The tenure is around for seven to eight years of time. Response is very good one with them.
      Was this review helpful? 0
      , meerut
      Reviewed on Aug 23, 2017
    • SBI Fixed Deposit
      "Extremely super"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the State bank of India and its totally, while it comes to the response. With every aspects , State bank of India is doing in good way even in the part of rate of interest for deposits too like they are up to the mark.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 23, 2017
    • ICICI Bank Fixed Deposit
      "Great Job"
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit account with the ICICI bank and the rate of interest is around 6.5%, also am not looking the interest rate to compare with other bankers. Customer service is fine one for me and the response is good, also the tax is applicable on the returns.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 21, 2017
    • Bank Bazaar Fixed Deposit
      "Credit card application"
      0.5 5.0/5 "Blown Away!"
      Personal loan has been approved, I didn't have a credit card.My credit score is 750+ as per informed by credit mantri.I have got separate responses from SBI, HDFC,Credit mantri ,Bankbazar.I was called by banking sector formally and one of the bank has responded me on 9144466511800.
      Was this review helpful? 0
      , other
      Reviewed on Aug 19, 2017
    • Kotak Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      Of course even foreclosure of FD, can be done through the mobile application of KOTAK . Also it is easy to compare the rates on the net banking and it is excellent too. When I placed a request for liquidation it takes about 2 hours of time and it is very easy to change the maturity instruction through the mobile app.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 17, 2017
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    Fixed Deposit Rates is Rated as "Excellent!" by 1787 Users

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    Fixed Deposit Rates

    fd interest rates in India 2017
    Fixed Deposit Rates
    • Fixed deposit interest rates vary from one bank to the other as it is primarily dependent on a bank’s business plan.
    • FD rates are calculated based on the amount of liquid cash a bank has at any given point in time. For instance, when demonetization happened, FD interest rates of all banks went down significantly because banks had access to more money than they were used to.
    • Nearly every bank offers special FD schemes, which come with slightly higher rate of interest when compared to traditional FD.
    • Banks tend to change their interest rate on a daily basis for high-value deposits which tend to go beyond Rs.1 crore or more.
    • Public Sector Undertakings (PSUs) have their own fixed deposit interest rate offerings as well, which differ from one brand to the other.
    • Fixed deposits are eligible for TDS if they earn an interest of more than Rs.10,000 in a year.
    • Senior citizens get a higher fixed deposit interest rate when compared to the general public.
    • While company FD come with higher interest rates, investing in them is always a risky proposition.

    Best FD Rates In India 2017

    The fixed deposit schemes offered by most banks can be availed for tenures ranging from as short as seven days to as long as 10 years. Few of the banks, such as the State Bank of Patiala, IDBI Bank, the Ratnakar Bank, etc. offer FD that stretch to 20 years as well. The FD rates applicable to schemes with short tenures is very similar to the interest rates applicable to savings account. The interest on FD is compounded on a quarterly basis.

    Individuals who invest in fixed deposit can avail overdraft / loan facilities from the bank against the amount in their fixed deposit accounts.

    The best interest rates on fd offered by banks in India for regular are mentioned in the table below

    Fixed Deposit Interest Rates for Top Banks
    Fixed Deposits with Bank Tenure (Min-Max) Interest Rates for Regular Deposit
    State Bank of India 7 days-10 years 5.50% p.a.- 6.75% p.a.
    Indian Post Office 1 year-5 years 6.9% p.a.-7.7% p.a.
    HDFC Bank 7 days-10 years 3.50% p.a.- 6.95% p.a.
    ICICI Bank 7 days-10 years 4.00% p.a.- 6.90% p.a.
    Axis Bank 7 days-10 years 3.50% p.a.-7.00% p.a.
    Punjab National Bank 7 days-10 years 4.25% p.a.- 6.90% p.a.
    Bank of India 7 days-10 years 4.00% p.a.- 6.80% p.a.
    Canara Bank 7 days-10 years 4.2% p.a.- 6.75% p.a.
    Indian Bank 7 days-More than 3 years 4.00% p.a.-6.25% p.a.
    Bank of Baroda 7 days-10 years 4.50% p.a.- 6.9% p.a.
    Bandhan Bank 7 days-10 years 3.50% p.a.- 7.25% p.a.
    Kotak Mahindra Bank 7 days-10 years 3.50% p.a.- 6.90% p.a.
    Union Bank 7 days-10 years 5.00% p.a.-7.00% p.a.
    Indian Overseas Bank 7 days-10 years 4.00% p.a.-6.75% p.a.
    Central Bank of India 7 days-10 years 4.75% p.a.- 6.50% p.a.
    LIC HFL 1 year-5 years 7.30% p.a.- 7.50% p.a.
    Bank of Maharashtra 7 days-10 years 4.25% p.a.- 6.25% p.a.
    IDFC Bank 7 days-10 years 4.00% p.a.- 7.50% p.a.
    State Bank of Travancore 7 days-10 years 5.50% p.a.-6.90% p.a.
    Yes Bank 7 days-10 years 5.75% p.a.- 7.10% p.a.
    Corporation Bank 7 days-10 years 5.00% p.a.- 6.60% p.a.
    Andhra Bank 7 days-10 years 4.00% p.a.- 6.85% p.a.
    State Bank of Hyderabad 7 days-10 years 5.50% p.a.- 6.90% p.a.
    RBL Bank 7 days-20 years 5.00% p.a.-7.85% p.a.
    IDBI Bank 15 days-20 years 4.25% p.a.- 6.65% p.a.

    Fixed Deposit Rates in India For Senior Citizen

    Fixed deposits are an especially great idea for senior citizens considering that their sources of income are limited and people are mostly risk averse in that age group. Additionally, banks tend to offer better interest rates for senior citizens. The best fixed deposit interest rates offered by banks in India for senior citizens’ are mentioned in the table below –

    FD Rates for Senior Citizens for Top 10 Banks
    Fixed Deposits with Bank Tenure (Min-Max) Senior Citizen FD Rates
    State Bank of India 7 days-10 years 6.00% p.a. to 7.25% p.a.
    Indian Post Office 1 year-5 years 6.9% p.a.-7.7% p.a.
    HDFC Bank 7 days-10 years 4.00% p.a. to 7.45% p.a.
    ICICI Bank 7 days-10 years 4.50% p.a. to 7.40% p.a.
    Axis Bank 7 days-10 years 3.50% p.a. to 7.50% p.a.
    Punjab National Bank 7 days-10 years 4.75% p.a. to 7.40% p.a.
    Bank of India 7 days-10 years 4.50% p.a. to 7.3 % p.a.
    Canara Bank 7 days-10 years 4.7% p.a. to 7.25% p.a.
    Indian Bank 7 days-More than 3 years 5.50% p.a. to 7.75% p.a.
    Kotak Mahindra Bank 7 days-10 years 4.00% p.a to 7.40% p.a

    Quick Tips

    Why a Fixed Deposit is better than a Savings Account

    We can give you a four reasons why a fixed deposit makes for a better investment option than a regular savings account.

    Earn more Interest with a Fixed Deposit

    Got a substantial amount of money? Don’t let it sit idle in your Savings Account. Put that money in a Fixed Deposit and earn more interest on it.

    Fixed Deposits offer Higher fd rates

    Interest rates offered on Fixed Deposits are higher than the interest offered on a Savings Account. Help your money grow with a Fixed Deposit.

    Build a Credit History

    In case you don’t have a credit history, you can create one by using a Fixed Deposit as collateral to secure a loan.

    Senior Citizens get Higher Interest RatesRegularly

    If you are over 60 years of age, you can avail a higher rate of interest on Fixed Deposits. You can also open a Fixed Deposit jointly with a senior citizen and get as much as 0.5% more than the interest rate for regular depositors.

    Must Know Bank Fixed Deposit Rules

    Fixed deposits (FD) are a popular and sought after financial scheme among investors who are looking for safe, secure and guaranteed returns on their investment, even if the interest rates are not very high. Bank fixed deposits have always been one among the most preferred savings methods through which one can gain a certain fixed percentage of interest without taking any financial risks. Not just this, fixed deposits also come with a host of other benefits such a high liquidity value, which allows the investor to prematurely withdraw his/her fixed deposit at any point in time, avail a loan on the FD, etc. FDs have also been a favorite option among senior citizens, who are generally eligible for a higher rate of interest. When it comes to FDs, there is a lot to know, be it do’s and don'ts or rules and regulations. Let us take a look at some of the important things about FDs.

    • Tax Deducted at Source (TDS): All customers must know that the interest earned on FDs are fully subject to tax. Many people have the wrong notion that the interest earned on an FD is tax-free. This is not true and not paying tax on the interest earned on FDs will only put you in trouble. Usually, if the interest earned at one branch is more than Rs.10,000 per annum, tax charges will be applicable. The usual rate of TDS is around 10%. In cases where the tax liability is more than the TDS, the account holder will have to pay the excess. If it is the other way round, one can claim for a refund.
    • Loan facilities: Customers who hold FDs are eligible to avail a loan on the same without any hassle. Most banks allow depositors a loan or overdraft facility of up to 90% of the FD amount. The interest charged will be a certain percentage higher than that is gained through the holding of the fixed deposit. Availing a loan of your own FD is an easy and stress-free way to meet sudden financial needs or personal emergencies. An important point to note here is that the tenure of the loan cannot be longer than the FD tenure. Most banks usually have an upper limit of 5 years for loans taken against FDs.
    • Insurance of FD: Did you know that your FD is protected and you hold an insurance in case the bank in under any circumstance fails you the money due to various reasons. The Deposit Insurance and Credit Guarantee Corporation (DICGC) in collaboration with the Reserve Bank of India, offers protection to all FD account holders. An insurance amount of Rs.1 lakh will be provided on the principal invested and the interest earned. DICGC will take the responsibility of paying the account holder this sum in case of bank failure. This insurance coverage will be provided for all deposit holders, irrespective of which bank they may hold their deposit in.
    • Clubbing of interest: It is very important for customers to know that the interest earned from both FDs and recurring deposits will be clubbed under one umbrella. In fact, the interest earned from deposits held across banks will be clubbed for the purpose of calculating the total interest earned for tax purposes. This will be done each financial year to evaluate the applicability of TDS. Also, note that TDS deductions will be applicable for all interest earned on recurring deposits as well.
    • Form 15G or 15H: In cases where the interest earned is less than Rs.10,000 then the account holder will not be liable to pay tax. In such a case, it is always wise to fill in form 15G or 15H as a self-declaration. With this, one can prevent the hassle of claiming a tax refund while filing income tax returns. Please note that even if TDS has been already deducted one has to declare in the income tax return.
    • Minor or spouse: It is a wrong assumption that if an FD is opened in the name of a minor or nonworking spouse, there will be a tax exemption. This is not true because the tax will have to be borne for the same without any excuses.
    • Cumulative deposits: In case of cumulative deposits, even though the interest will be paid after the completion of the maturity period, it is necessary to make a declaration every financial year. This is because the bank will be deducting TDS through the PAN of the depositor and if the income is not declared there will be a mismatch.

    Before making assumptions or making misconceptions, it is important to be aware of all rules and regulations with regard to FDs. This will help investors to a large extent because, in most cases, many people do not know tax rules, especially when it comes to FDs.

    FAQs

    Is fixed deposit interest compounded?

    Yes, the fixed deposit interest is compounded based on monthly, quarterly, half-yearly or yearly interest rates. Individuals can utilize the fd interest rate calculator to determine the approximate interest they will be earning on their investment (principal amount) or FD account. Considering the fact that FD have fixed terms, the interest compounding becomes rather simple with the interest payment frequency as one of the prime variable components.

    What is a reinvestment of interest in a fixed deposit account?

    Fixed deposit accounts can be opened under a cumulative or non-cumulative deposit scheme. Based on the type of the deposit scheme, the account will earn interest on the investment (principal amount) on either monthly, quarterly or annual basis. The account holder will have the option to choose the fixed deposit term ranging from few months to a maximum of 10 years. At maturity of a cumulative fixed deposit account, the account holder can choose to reinvest the interest along with the principal amount for an extended period of time.

    Can we get monthly interest on fixed deposits?

    Yes, the account holder can choose to receive the interest payment every month for the entire term of the fixed deposit account. Depending on the investment (deposit amount), term, and interest rate offered by the account, the monthly interest amount can be calculated. Most banks offer the fixed deposit interest calculators on their website that will come handy when you need to calculate the earnings and value of the investment.

    How to Calculate Interest Rate on Fixed Deposits in India?

    A fixed deposit online calculator will help you calculate the interest that your money will earn when kept in a fixed deposit. This will take into account your investment that's the Principal amount on maturity after the interest is compounded on a monthly, quarterly, half-yearly or yearly basis. As an example let’s say that you have a sum of Rs.15, 000 that is deposited in your bank for a period 2 years the interest the bank is paying you is an annual interest rate of 5%, The interest will be compounded quarterly for this period.

    The formula used by the bank will be A = P x (1 + r/n)nt I = A - P.

    Maturity Value (A) = P x (1 + r/n)nt

    = 15000 x (1 + 0.05/4)4x2

    = 15000 x (1 + 0.0125)8

    = 15000 x (1.0125)8

    = 15000 x 1.104486101

    Making the Maturity Value (A) = Rs. 16567.29.

    And hence leading to the Maturity Value (FD) = Rs. 16567.29

    Interest Earned Amount (I) = Rs. 1567.29.

    3 Factors That Affect FD Rates

    Fixed deposits are now considered to be a very old fashioned method of saving, but still attract many investors since they have guaranteed returns at the end of the tenure of the investment at a decent interest rate. There are various factors that affect the rates of interest for a Fixed Deposit.

    1. Policies of the Reserve Bank of India :The several norms and restrictions posed by the Reserve Bank of India, in order to gain optimum control over credit and inflow and outflow of fund throughout the country. The repo rate changes, cash reserve ration tends to change and these changes affect the banking products like Fixed deposits, loans etc.
    2. Recession : When unemployment in a country crosses the benchmark set Recession hits, and slowly the country faces an economic slow movement, affecting the purchasing power of the people in the country, forcing the Reserve Bank of India to release more funds in the financial market. With this release the funds in the cash reserve reduces and hence again affects Fixed deposits, loans etc.
    3. Inflation : When prices of goods and items become more expensive on a daily basis, the opposite of recession, banks and lending institutions are scared of the devaluation of the rupee, and reducing the purchasing amount over the amount lent out. To ensure the losses of interest over the amount lent. Banks will offer higher interest rates on fixed deposits.

    FD Interest Rates Based on Tenure 2017

    Fixed deposits are savings options for the risk-averse common man and the rates offered on these deposits are mostly the only basis of choosing them over any other savings medium. Some of the top ranking fixed deposits of 2017 are as follows

    Top 10 Fixed Deposit Rates for 1 Year Deposits

    1 year fixed deposits are meant for people who can afford only to have their money for that long a duration as a deposit. Land owners and property owners who don’t want any market risk can go for this option. In India, Shriram City Union outranks most banks with a high interest rate for 1 year deposits, followed closely by RBL Bank. Bandhan Bank, being relatively new still has the upper hand over many others in terms of interest rate offered. Mahindra Finance and Shriram Transport Finance come in at the fourth and fifth position. Post these top 5 leaders, the remaining institutions that can offer a good rate of interest are the Indian Post Office, Sundaram Finance, LIC Housing, ICICI Home Finance and IndusInd Bank. Interest rates offered by these institutions range from 8 percent to 8.75 percent per annum.

    Top 10 Fixed Deposit Rates for 2 Year Deposits

    Fixed deposits are relatively risk free investments that can be used by people who normally have a lump sum amount to invest. Since the interest rates offered are comparatively higher than that of savings or current accounts, fixed deposits become a more lucrative investment option for the traditional investor. Two year deposits normally tend to have slightly higher rates than one year terms, more so because of the longer term of deposit. The five leaders in the 2 year term deposits as per the interest rates are RBL Bank, Shriram City Union Finance, Bandhan Bank, India Post and LIC Housing Finance Limited. Another wing of the Shriram Group, the Shriram Transport Finance Company takes up the sixth position, followed closely by Mahindra Finance. ICICI Home Finance, Sundaram Finance and Laxmi Vilas Bank occupy the bottom three rungs of the ladder. The diversity of interest rates offered for 2 year deposits has a wider margin, the lowest being 7.9 percent per annum and the highest being 9.14 percent per annum.

    Top 10 Fixed Deposit Rates for 3 Year Deposits

    As the term of deposits increase, interest rates offered by banks and financial institutions also tend to be higher. Though there might be some odd ones out that reduce their interest rates for the 3 years investing period. This medium long tenure is mostly opted for by people with lease contracts that have high penalty values. Since fixed deposits are relatively risk free, it makes for a wise decision to use such investing periods for wealth growth. The leader in this category is Shriram City Union Finance that has the highest possible interest rate. RBL Bank stays close at its heels though fractions of percentiles lower at the second place. Shriram Transport Finance Company comes in at third cutting it close with RBL Bank. Indian Post Office manages to climb into the top five in this category being at the fourth position and the list closes with LIC Housing Finance Limited. Bandhan Bank comes in at sixth with several fractions lower of a percentage. Sundaram Finance, Mahindra Finance, Gruh Finance Limited and ICICI Housing Finance come in at the closing of the top 10. The lower end of interest rates offered comes at 8 percent per annum and the highest rate of interest offered is at 9.84 percent per annum.

    Top 10 Fixed Deposit Rates for 4 year Deposits

    When considering people who are home-owners and landlords and are offering leases for their property, 4 year and 5 year deposits in fixed deposits are a good idea when people are averse to risks that are offered through the market. Though the return on the deposits are less as compared to stocks and equities, one’s investment stays very secure. Four years is one of the long term commitments in fixed deposits and many financial institutions offer great returns on the same. While Shriram City Union Finance Fixed Deposit stays right at the top of the list with an amazing interest rate that reaches double digits, it is closely followed by RBL Bank at the second position. PNB Housing Finance Limited comes in at the third position with a slightly lower rate. The Shriram Transport Finance Company Limited has a fixed deposit rate that slightly rivals that of PNB Housing and comes in at position four. Coming in at fifth is Bandhan Bank with its fixed deposit rates that are among the higher ones in the market. Mahindra Finance occupies position six and is followed by the India Post Office at number seven. ICICI Home Finance, Jammu & Kashmir Bank and Lakshmi Vilas Bank come in at number eight, nine and ten on the list.

    Top 10 FD Rates for 5 Years Deposits

    Fixed deposits for five year terms are the investments that typically dole out the highest possible rate of return, especially with cooperative banks and non-banking financial companies. These durations can be chosen again by property owners who wish to earn sumptuous interest on the security deposit that has been offered for a piece of property. Additionally, it is also the best way to keep one’s funds safe from market risk and have the least liability ever. Shriram City Union Finance currently emerges as the leader in fixed deposits of 5 years duration. It is closely followed in the second position by RBL Bank. Deutche Bank becomes the third in the leader board with great offers on interest rates. Shriram Transport Finance comes in at the fourth position and LIC HFL comes in at fifth. For positions sixth, seventh, eighth, ninth and tenth, the institutions that can be named are India Post Office, Mahindra Finance, PNB Housing Finance Limited, Tamilnad Mercantile Bank and ICICI Home finance. The lowest rate in this category could be 8 percent per annum while the highest would be 10.77 percent per annum.

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    • After PPF Rate Cut, Bank FD Rates To Follow?

      Following the reduction in the interest rates of small savings schemes such as PPF (Public Provident Fund), industry watchers have been speculating on whether banks are set to follow suit and slash interest rates on fixed deposits.

      Small savings schemes have been reduced by 10 basis points in interest rates for the quarter July-September. This has led analysts to suspect banks might wait to see the change in the repo rate following the RBI meeting in August before taking a decision on reducing interest rates for fixed deposits.

      Some analysts have speculated that rates might be revised downwards even without a rate cut by the RBI.

      7th July2017

    • Bajaj Finance changes strategy, plans to look into retail deposits

      Departing from their original strategy, Bajaj Finance has reduced the minimum investment size by over two thirds from Rs.75,000 to Rs.25,000 in order to position itself as a mass market player. With this plan, Bajaj Finance hopes to double its outstanding deposit to around Rs.8,000 crore per year from Rs.4,100 crore.

      Thanks to this, Bajaj Finance is in the same bracket as the Housing Development Finance Corporation among all non banking finance companies with respect to minimum deposits. In contrast, Rs.20,000 is the minimum deposit is HDFC.

      6th April 2017

    • RBI Says Scheduled Commercial Banks to set Deposit Interest Rate

      RBI (Reserve Bank of India) has recently announced that Scheduled Commercial Banks can set their savings bank deposit interest rate themselves. To do so, they need the approval of their Board of Directors. They have to also meet two conditions to be able to do so. First is that every bank has to offer a uniform rate of interest on deposits of up to Rs.1 lakh and the second condition is that banks can set differential interest rate if the end-of-saving saving bank balance is more than Rs.1 lakh, provided it will not discriminate on the interest rate that is paid on similar deposits made on the same date.

      16th March 2017

    • Investment alternatives to slashed interest rates on fixed deposits

      In the recent monetary policy review on the 8th of Feb, the Reserve Bank of India (RBI) has changed the policy pertaining to fixed deposits. From an accommodative stance to neutral, this has made the banks slash the interest rates on the fixed deposits. However, experts have observed that tax-free bonds are something that can help the investors earn more out of their money. The tax-free bonds are unlike the fixed deposits where you are taxed on the amount of interest you have earned. The tax-free bonds are flexible and offer the investors a chance to save on taxes. The bonds by various PSUs are something to look forward to when you want to earn more out of your investments.

      09th March 2017

    • SC orders Unitech to pay interest to flat buyers

      Real estate giant Unitech has been ordered by the Supreme Court to pay an interest to flat buyers who have withdrawn their will to buy flats after the builder failed to deliver the flats on time.

      As many as 39 buyers had booked flats in Unitech's Vistas project that was being built in Haryana's Gurugram. Justice Mohan M Shantanagouder, Justice Dipak Misra and Justice AM Khanwilkar have given Unitech a period of eight weeks to deposit an interest at the rate of 14%. The builder is supposed to deposit the sum to the Supreme Court's registry. The court will calculate the interest from January 1, 2010 till the day Unitech deposits the principal amount.

      The court has also decided that 90% of the total interest that will be deposited by the builder will be distributed amongst the 39 buyers. After ordering Unitech to pay the interest at 14%, the court has declared that queries related to the payment and the interest rate will be kept open on April 24, 2017 for a hearing.

      Senior counsel, P Chidambaram, who represented the company suggested that the buyers who have withdrawn cannot get the interest as well as the compensation. He added that since the flats were not handed over to the buyers, they have only lost the rent that they had paid while staying in the house.

      24th February 2017

    • Banking Industry Prepares for War Against Interest Rate

      NMB Bank came up with a lucrative two-year FD scheme that provided a yearly interest of 12%. The interest rate offered by most banks on FDs is usually higher as the funds are locked in for a certain period of time. In case the depositors do not want to continue with the contract, and wish to withdraw their money prior to the expiry of the deadline will have to pay a penalty. However, the unique aspect of the NMB? newest offer is that depositors will not be required to pay the fine in case they want to take their money out prior to the expiry of the two-year tenure. This means that putting your funds in NMB under this scheme is the same as parking money in a current account that offers significantly better returns

      21st February 2017

    • Higher interest rates on fixed deposits being offered by smaller banks

      In a bid to increase the number of customers, small and new banks are giving higher interest rates than banks that are old. In the last two years, there has been a decline in the rates being offered by large and old commercial banks. An example is how State Bank of India (SBI) which is India's biggest lender, at present, offers an interest rate worth 6.90% p.a. on fixed deposits that mature in a year. HDFC Bank Limited and ICICI Bank Limited are also giving the same rate of interest for an equivalent period of time.

      But, Suryoday Small Finance Bank Limited that is based in Navi Mumbai, gives an interest rate of 9% per annum. This bank launched operations on February 23, this year.

      A study released by Religare Capital Markets states that Equitas Small Finance Bank Limited and Utkarsh Small Finance Bank Limited are giving interest rates from 8.25-8.75% p.a. on FDs that would mature in a year? time. Universal banks like Bandhan Bank Limited offer a higher rate than bigger banks. They offer somewhere around 7.25 to 8% p.a. for 1 to 2 years.

      Interestingly, larger banks are giving rates that are even lesser than the savings rate.

      16th February 2017

    • Deposits shoot up despite low interest rates

      According to the stats published by the Reserve Bank of India, there has been a rise in the deposits even when interest rates offered by the banks have seen a decline. This excess liquidity in the financial system is a result of demonetization, informs the finance minister, Arun Jaitley.

      The deposits have witnessed a rise of 13.9 % which amounts to a whopping Rs.105 Lakh Crore from Rs.12.7 Lakh Crore.

      While in November and December in 2016, owing to demonetization, people had no option but to deposit the old Rs.500 and Rs.1,000 with the bank, the RBI also introduced new currency at a slower rate. This move resulted in increasing the rate of deposits.

      However, the rate of growth in deposits is likely to slow down with the flow of new currency into the system.

      13th February 2017

    • Deposit rates need to be cut sooner says SBI Chief

      Arundhati Bhattacharya, Chief Executive Officer of State Bank of India, recently spoke at a conclave organised by Mint and shared a number of her thoughts with the media.

      When asked why the bank is ignoring competitors, she said that the company hasn’t survived at the forefront for 211 years by not taking competitors seriously.

      She also said that over 89 lakh accounts have been opened ever since demonetisation happened during the first week of November. Further, she spoke about the ready availability of funds and suggested that deposit rates need to be cut considerably in the future as they are untenable at the current moment.

      Since demonetisation, borrowing across all capacities by small and medium sized industries have gone down and deposits have seen a massive increase, the scion said.

      7th February 2017

    • Mumbai: Method to earn 2% more interest on your fixed deposits

      If you are an investor, there are three non-convertible debenture (NCD) issues that can make you earn a higher assured return on fixed income portfolios. The SREI Equipment Finance's issue provides interest rates up to 9.75%, while ECL Finance and Muthoot Finance are speculated to offer interest rates between 8% and 9.5% per annum.

      The fixed income options help the investors in battling the low returns on investments and unavailability of tax-free bond issues. Investors who are not liable to pay tax on income and who are highly depending on the interest amount can take advantage of the NCDs. The NCD offers the convenience of sending payouts directly to a bank account. The investor is recommended to monitor the risk factors to ensure their investment is safe.

      16th February 2017

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