Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
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    Best Fixed Deposit Rates for 1 Year

    Fixed Deposits

    Fixed deposit is a financial tool that helps you build on your savings over a period of time. Under Fixed Deposit, the investors invests a lump sum amount of money in the account and earns a certain percentage of interest on the same over a period of time. It is a very safe form of investment as the risk factor is considerably less. The interest rate on the fixed deposit scheme depends on various factors such as the amount deposited, tenure of the scheme and the bank offering the scheme.

    Company Fixed Deposits:

    Company Fixed Deposits are fixed deposits offered by companies. These kind of deposits are offered when the company is not keen on issuing shares but requires additional capital. Company Fixed Deposits are unsecured and are better for people who are looking to invest for a short period of time.

    Top Bank FD Rates for 1 Year

    RBL Bank 1 Year Fixed Deposit

    One of the most trusted but least advertised private sector banks in India – RBL Bank – has a range of options for fixed deposits in terms of tenure. The interest rates vary between 7.75% and 8.00% for deposits up to 1 year, depending on the amount invested. Senior citizens get a preferential interest rate ranging between 7.98% and 8.24%, depending on the amount invested, for the same tenure. The bank offers 5 different FD plans, depending on the needs of the customer.

    RBL Bank 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 7.75% Less than Rs.1 crore 1 year
    Compounding quarterly at 8.00% Less than Rs.1 crore 1 year

    ICICI Home Finance 1 Year FD

    The minimum deposit tenure offered by the ICICI Housing Finance Company is 1 year. Interest can be compounded annually, quarterly, or monthly. The current interest rates are 7.50% for the monthly compounding option, 7.55% for the quarterly compounding option, and 7.75% for the annual compounding option.

    ICICI Home Finance 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 7.50% Less than Rs.1 crore 1 year
    Compounding quarterly at 7.55% Less than Rs.1 crore 1 year
    Compounding yearly at 7.75% Less than Rs.1 crore 1 year

    IndusInd Bank FD for 1 Year Tenure

    One of the better options to take a fixed deposit out from a private sector bank is the IndusInd Bank. Investors in this FD can make partial withdrawals from their accounts. The interest rate currently is 7.35%, which is lower than most other offerings, but comes from an institution that’s been rated as one of the most trustworthy and reliable in this kind of business.

    IndusInd Bank 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 7.05% Less than Rs.1 crore 1 year

    Bandhan Bank 1 Year Fixed Deposit

    This bank offers 2 FD schemes that can be chosen depending on the requirement of the customer. Compounding frequency can be chosen as either monthly or quarterly, and the interest rate is a flat 8.25% for the tenure of 1 year.

    Bandhan Bank 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 8.25% Less than Rs.1 crore 1 year

    Indian Post Office Fixed Deposit for 1 Year Tenure

    The Indian Post Office offers the most widely available fixed deposit schemes in the country. Also, this institution provides a lower interest rate as compared to most banks and NBFCs but is arguably the most trustworthy place in which to park your funds. Interest is compounded quarterly, but paid annually, and is currently being offered at 7.1% for a tenure of 1 year.

    India Post 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 7.10% Less than Rs.1 crore 1 year

    Top Company FDs for 1 year

    Listed below are the top Company Fixed Deposit schemes for the year 2016:

    Shriram City Union Fixed Deposit for 1 Year

    Despite being an NBFC, Shriram City Finance is one of the most successful and trusted fixed deposit providers in the country. This NBFC offers an interest rate of 7.95% under the monthly compounding system, and 8.00% under the quarterly compounding system.

    Shriram City Union 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 7.49% Less than Rs.1 crore 1 year
    Compounding quarterly at 7.54% Less than Rs.1 crore 1 year

    Mahindra Finance Fixed Deposit for 1 Year

    This private NBFC provides higher interest rates than most banks, and has been around long enough to be widely considered a trusted name in personal finance. Senior citizens get an additional 0.25% on the interest rate through Mahindra finance. Mahindra Finance offers 7.75% interest on its fixed deposits when compounded half yearly. Interest is compounded either quarterly or half-yearly.

    Mahindra Finance 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under half-yearly compounding at 7.75% Less than Rs.1 crore 1 year
    Compounding quarterly at 7.65% Less than Rs.1 crore 1 year

    Shriram Transport Finance Company 1 Year Fixed Deposit

    This is an NBFC that’s expanded its operations from offering financing for those that require transportation related assets and has moved into deposits, etc. Interest can be compounded in these deposits on a monthly, quarterly, half-yearly, and yearly basis. Interest rates offered are 7.72% for monthly compounding, 7.77% for quarterly compounding, 7.85% for half-yearly compounding, and 8.00% for annual compounding.

    Shriram Finance 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 7.49% Less than Rs.1 crore 1 year
    Compounding quarterly at 7.54% Less than Rs.1 crore 1 year
    Compounding half yearly at 7.61% Less than Rs.1 crore 1 year
    Compounding yearly at 7.75% Less than Rs.1 crore 1 year

    Sundaram Finance Fixed Deposit for 1 Year

    Another very successful and widely trusted NBFC that offers fixed deposits is the Sundaram Finance NBFC. Investors are offered the choice of having interest compounded monthly or quarterly. The deposits can be made for a tenure of one year and interest is compounded monthly at the rate of 7.45%, and quarterly at the rate of 7.50%.

    Sundaram Finance 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 6.96% Less than Rs.1 crore 1 year
    Compounding quarterly at 7.00% Less than Rs.1 crore 1 year

    LIC Housing One Year Fixed Deposit

    The LIC Housing Finance Company has been rated FAAA by CRISIL, and offers interest rates on par with most banks and leading NBFCs for deposits of 1 year tenure. Senior citizens are offered an additional interest rate of 0.10% on top of the advertised interest rate which is 7.85% for fixed deposits of a 1 year tenure. Interest compounds annually only.

    LIC Housing 1 Year FD Rates
    Interest Rate & Compounding Amount Invested Tenure
    Under monthly compounding at 7.85% Less than Rs.1 crore 1 year

    The interest rates are subject to change. The customer is advised to consult the Banks or Financial Companies for the updated rate of interest on Fixed Deposit Schemes.

    Updated on January 2017

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