Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
  • loading
    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
    Documents
    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
     Loading your search... Loading your search...
  • Fixed Deposit Rates is Rated as "Excellent!" by 1849 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    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.
    FD Interest Rate for less than 1 year
    Bank Tenure Regular FD Interest Rates
    IDFC Bank 181 to 365 days 7.00%
    Axis Bank 9 months < 1 year 6.75%
    ICICI Bank 290 days < 1 year 6.50%
    State Bank of India 46 days < 1 year 6.25%
    Vijaya Bank 181 days < 1 year 6.25%
    Andhra Bank 6 months < 1 year 6.25%
    HDFC Bank 9 months 16 days < 1 year 6.25%

    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 5.25% p.a.- 6.25% 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.- 6.75% p.a.
    ICICI Bank 7 days-10 years 4.00% p.a.- 6.75% p.a.
    Axis Bank 7 days-10 years 3.50% p.a.-6.85% p.a.
    Punjab National Bank 7 days-10 years 4.00% p.a.- 6.60% p.a.
    Bank of India 7 days-10 years 4.00% p.a.- 6.70% p.a.
    Canara Bank 7 days-10 years 4.20% p.a.- 6.50% 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.- 6.65% 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.- 6.60% 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.- 7.25% p.a.
    State Bank of Travancore 7 days-10 years 5.50% p.a.-6.90% p.a.
    Yes Bank 7 days-10 years 5.00% p.a.- 6.75% 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.-7.30% p.a.
    IDBI Bank 15 days-20 years 4.25% p.a.- 6.75% 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 7.00% 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 7.25% p.a.
    ICICI Bank 7 days-10 years 4.50% p.a. to 7.25% p.a.
    Axis Bank 7 days-10 years 3.50% p.a. to 7.35% p.a.
    Punjab National Bank 7 days-10 years 4.00% p.a. to 7.10% p.a.
    Bank of India 7 days-10 years 4.50% p.a. to 7.20 % p.a.
    Canara Bank 7 days-10 years 4.70% p.a. to 7.00% p.a.
    Indian Bank 7 days-More than 3 years 4.00% p.a. to 7.00% 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.

    Also Know About

    Read Fixed Deposit Rate news or Enjoy it on the go

    • Deposits grow due to demonetization

      There has been a liquidity boost in banks post demonetization and this has greatly helped banks cut down on their high cost deposits and focus more on savings accounts, fixed deposits and current accounts.

      The value of excess deposits that remained in the banking system range from Rs.2.8 to 4.3 trillion. It has also come to light that around 55% to 60% of all of these deposits have been in the banking sector in the form of either fixed deposits, savings accounts or current accounts. Experts say that all banks have benefitted due to demonetization.

      8th November 2017

    • Demonetization and its effect on personal finance

      Demonatization has made an impact on personal finance for many people in the country. There has been a huge effect on loan interest rates, fixed deposit interest rates, reality prices and the move from cash to cashless digital transactions.

      One of the first things that happened after demonetization is the move to digital transactions. There were many digital payment apps that were launched and used. Also, there was a stabilization of prices in the realty sector and bank loan interest rates have come down due to the flush on deposits in various banks.

      On the other hand, the interest rate on fixed deposits came down. This means that investors can stick to their old FD or look at various Post Office Fixed Deposit schemes.

      8th November 2017

    • Sweep-in FD could serve as good emergency fund

      One of the most important things to do to have a secure and healthy financial future is to create an emergency fund.

      A corpus fund will always come to rescue to tide over the tough times of life. One of the best ways to create an emergency fund is by investing in a fixed deposit with a sweep-in facility.

      A sweep-in fixed deposit is a type of term deposit where the depositor will be allowed to transfer funds or ‘sweep-in’ funds from his/her fixed deposit to savings account.

      23rd October 2017

    • No revision of interest rates for small savings

      There has been no changes made to the interest rates offered on various small savings schemes such as KIsan Vikas Patra (KVP), PPF, and Sukanya Samriddhi schemes for the period of October to December. The Finance Ministry issued a notification stating that the rate of interest offered on such savings schemes will not be revised for the the 3rd quarter in the financial year 2017-18 from October 1.

      The interest paid on such savings schemes have been recalibrated quarterly from April last year.

      PPF pays an annual rate of interest of 7.8% and KVP yields around 7.5%. The Sukanya Samriddhi scheme offers a rate of interest of 8.3% per annum.

      29th September 2017

    • 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

    Customer Reviews

    • SBI Fixed Deposit
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      I am able to do all my transactions online at State bank of India. I have a fixed deposit account and the process is easy. The features are good and when I contact them they are supportive. The services at the bank can be more proactive and quick to respond.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 14, 2017
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the fixed deposit account with the HDFC bank and the online banking services are good one too. I am happy with the HDFC bank till now. Online banking services are really good one with the HDFC bank.
      Was this review helpful? 6
      , bangalore
      Reviewed on Dec 07, 2017
    • Citibank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the CITI bank and the rate of interest is lesser one . I would like to say that the online banking services are good one too and am happy with the deposits in CITI bank.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 06, 2017
    • Lakshmi Vilas Bank Fixed Deposit
      "Better safety locker"
      0.5 5.0/5 "Blown Away!"
      Based on my savings account , I have got the Fixed deposit from the Lakshmi vilas bank. I have also got the safety locker with the Lakshmi vilas bank. I have this Fixed deposit for past 6months. I get the average interest rate with the Lakshmi vilas fixed deposit.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 05, 2017
    • review Fixed Deposit
      "Good Protection for future"
      0.5 4.0/5 "Great!"
      I invested 4 lakh in FD with Vishweshwar Sahakari bank, they are providing 8.5 to 9% of interest for the tenure period of 13 months, again reinvest in FD. Initially I went the branch and opened the FD account on same day or else they consider the maturity based on the date opened.
      Was this review helpful? 2
      , pune
      Reviewed on Dec 04, 2017
    • HDFC Bank Fixed Deposit
      "FD is pretty good"
      0.5 5.0/5 "Blown Away!"
      The return in this Bank's Fixed Deposite is pretty good. I believe their customer service is good. The good thing about this account is that I can take the money even during pre-mature stage. It's one of the good investment that I have made recently.
      Was this review helpful? 3
      , new delhi
      Reviewed on Dec 01, 2017
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 4.0/5 "Great!"
      I am having the fixed deposit account with the HDFC bank and the online banking services are very much convenient. I would like to say that the response is really good one for me with them. Everything is fine one with the HDFC bank
      Was this review helpful? 3
      , ghaziabad
      Reviewed on Nov 29, 2017
    • Kotak Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the Kotak mahindra bank and the customer service is good one. Interest rate with the deposit is fine like its according to the market rate. Everything is good one with the Kotak mahindra bank.
      Was this review helpful? 3
      , ghaziabad
      Reviewed on Nov 29, 2017
    • Allahabad Bank Fixed Deposit
      "Good Returns"
      0.5 2.0/5 "Expected more"
      I had this Fixed Deposit with Allahabad Bank quite a while ago. The expected return was supposed to be pretty good. But I didn't complete maturity period as I needed the money to get myself a Land in my place. I was allowed to take the money before maturity period, but some amount was charges as a penalty and the rest amount was given to me.
      Was this review helpful? 3
      , pune
      Reviewed on Nov 28, 2017
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been banking with Hdfc bank since 2016,they give the best service to the customers.I am using net banking and Mobile App us very comfortable to use.I maintain a minimum balance of 40,000,they give the Best rate of interest.Hdfc products are always best.
      Was this review helpful? 5
      , mumbai
      Reviewed on Nov 28, 2017
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with he HDFC bank and the response is good and I used to get the reminder on every month of time. Everything is fine one with hem. I am happy with the HDFC bank and I really dont have any issues on it.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Nov 28, 2017
    • Central Bank of India Fixed Deposit
      "Good Returns"
      0.5 5.0/5 "Blown Away!"
      I had this Fixed Deposit with Central Bank and they gave me 9% Interest over my investment and I took the Deposit for 3 years. Eventually I got good returns with them. Unfortunately, now they have reduced the interest rate to 6-6.5%. Another good thing about the FD was that I was able to take money before maturity period also.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Nov 28, 2017
    • SBI Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I took FD with SBI on 2015 and ended up with March 2017. I deposit 30K for a one time after the maturity they returned 35,000 rupees. I never had any issues with the customer service. The rate of interest was good with SBI. I directly went to the bank and said I would like to open a FD. They created immediately for me.
      Was this review helpful? 6
      , mumbai
      Reviewed on Nov 28, 2017
    • Canara Bank Fixed Deposit
      "3 years old"
      0.5 3.0/5 "Satisfactory"
      This has been good Bank that I have number of relationship with. I started with a Saving Accounts with them, followed by this Fixed Deposit. The Interest rate of 6.5% is not high, but a an alright one. I also have a Credit Card with them on the basis of this account,
      Was this review helpful? 2
      , new delhi
      Reviewed on Nov 25, 2017
    • Central Bank of India Fixed Deposit
      "Good returns"
      0.5 3.0/5 "Satisfactory"
      I deposited Fixed Deposit in two Banks some 3 years back and this is one of those two. Their Fixed Deposit account is pretty good and does the job fantastically. The rate of interest 6.5% is a little less compared to market standard, but then again the risk factors in this Bank are literally zero.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 25, 2017
    • Axis Bank Fixed Deposit
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      I am having the fixed deposit account with the Axis bank and the customer service was not really good like they have to be get improved. I would like to say that the online banking system could be get improved. I have not faced any issues with them till now.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 25, 2017
    • ICICI Bank Fixed Deposit
      "Great banking service"
      0.5 5.0/5 "Blown Away!"
      Totally I have 3 Fixed Deposit accounts with ICICI Bank. I am surprised where I can close my account by using online service. The interest rate was almost same like other public sector banks. No tax benefits, which are regular once here. I got a bonus points and very much happy with ICICI Service.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Nov 18, 2017
    • SBI Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      As I'm a long time customer with State bank of India for around 12 years and as I liked their banking services so I started a fixed deposit with State bank of India few years ago for 6 years as a tenure. I pay Rs. 10000 annually and I get 1 lakh at the end of the term.
      Was this review helpful? 3
      , faridabad
      Reviewed on Nov 18, 2017
    • SBI Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      As I have a savings account with State Bank of India I started a fixed deposit account with them. But I'm really not sure about the interest rates they provide me but it's good for both my FD accounts in this State bank of India as well as the other bank IOC.
      Was this review helpful? 3
      , kolkata
      Reviewed on Nov 17, 2017
    • Axis Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      Even though I don't like the saving account with Axis bank as there is a minimum balance of Rs. 10000 has to be maintained I like the fixed deposit account with Axis bank as that process is simple and smooth and I have it for 2.5 years and also they pay good interests rates of 7.5%.
      Was this review helpful? 3
      , faridabad
      Reviewed on Nov 17, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.