Best 5-Year Fixed Deposits in India (2020)

Investors can choose from a wide range fixed deposits (FD) that offer a high rate of interest for 5 years. Generally, most 5-year fixed deposit schemes come as tax saver plans but one can also opt for other types of FDs in this tenure range. The highest yielding fixed deposit scheme is offered by IDFC Bank, which pays interest at the rate of 7.50% for 5 years.

5-Year Fixed Deposits in India

Given below is an updated table of top banks in India that offer 5-year FDs: - Last Updated on 11 Jul 2020

*Deposit rates are dynamic and can be updated by banks without prior notice

Key highlights on 5-year FD rates

• Some of the best banks that offer term deposits in the 5-year slab include lenders like SBI, ICICI, Citibank, Axis Bank, among others
• The interest rates paid vary anywhere between 5.30% p.a. to 6.75% p.a. when it comes to the general public.
• As far as senior citizen deposits are concerned, the interest rate paid by banks range from 5.80% p.a. to 7.25% p.a.
• Customers will have the option either to go for tax-saver FDs or normal deposits in this tenure range

SBI

• SBI pays an interest rate of 5.30% p.a. for an investment period of 5 years for all regular term deposit holders
• When it comes to senior citizens, the rate of interest paid by the bank is 0.50% higher per annum
• For 5-year deposits, those who are 60 years and above can expect an interest rate of 5.80% p.a.

ICICI Bank

• ICICI Bank pays interest at an attractive rate of 5.75% p.a. for the 5-year tax saver FD
• For senior citizens, the rate applicable for the 5-year tax saver FD is 6.25% p.a.
• These rates are paid for those deposits that are less than Rs.2 crore and come with premature withdrawal option

Axis Bank

• Axis Bank is one among the other popular and well-reputed banks in India that offers an interest rate of 5.75% p.a. for the FDs opened for a period of 5 years
• In case of senior citizens, an investment period of 5 years fetches an interest rate of 6.25% per annum

Yes Bank

• The annual percentage gain from Yes Bank deposits for a period of 5 years is 7.00% per annum
• Senior citizens will get paid at the rate of 7.50% per annum by Yes Bank
• Investors can opt for the 5 years tax free FD or the regular fixed deposits. The interest rate is the same for both the FDs
• Interest will be paid quarterly or monthly

Citibank

• An FD rate of 4.00% p.a. can be earned from Citibank term deposits for investing for a time period of 5 years
• For senior citizens, the interest rate paid by Citibank will be 4.50% p.a.
• The bank rates are applicable for an investment amount that is equal to less than Rs.2 crore
• The bank offers tax savings term deposit schemes as well

HDFC Bank

• The yearly percentage gain from HDFC Bank fixed deposits opened for a period of 5 years is 5.75% p.a.
• For senior citizens, the interest rate paid by the bank is 6.25% p.a.

IDFC Bank

• IDFC Bank pays an attractive interest rate of 7.25% p.a. for fixed deposits opened for a period of 5 years
• For those who fall in the senior citizen slab, the gain percentage for the 5-year tax saver FD is 7.75% p.a.
• Customers can choose to put their money in the regular FD scheme or tax saver time deposit
• The yearly rate of return paid by the bank on regular fixed deposits opened for a period for 5 years is 7.25% for the general public and 7.75% for senior citizens

IndusInd Bank

• For senior citizens, the rate applicable is 7.25% p.a.
• The bank offers the general public an interest rate of 6.75% p.a. for regular term deposits opened for a period of 5 years while senior citizens are paid 7.25% p.a.