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  • Fixed Deposit BYTES FROM OUR KITCHEN

    Best FD Scheme with High Rates

    The returns on an FD account can vary due to many factors depending on the type of the FD account, financial institution, age of the investor, tenure of the account, etc. Most financial institutions follow the RBI’s guidelines while offering the interest rates on the FD accounts, however, if the deposit amount is higher, the financial institution may decide to offer a slightly higher interest rate. Additionally, the tax-free FDs offer tax benefits under the Section 80C of the Income Tax Act, 1961. FDs are widely sought for many other benefits such as the availability of a loan against the FD account itself. Most banks and non-banking financial companies (NBFCs) offer a loan up to a maximum of 90% of the account value at a lower interest rate compared to any other unsecured loan in the market. An FD account can be opened for a minimum of 7 days up to a maximum of 10 years or more.

    Guaranteed returns on FDs

    FD accounts have been a popular choice of investment among conservative investors since it is safe and also provide the protection of an insurance. The insurance for up to Rs.1 lakh for the principal and accrued interest is applicable for all FD accounts, following the RBI’s directive. Based on the tenure of the FD account, the age of the investor, deposit amount, and various other factors, the rate of return may change.

    Currently, there are many banks and NBFCs who offer a different rate of return than the other. Few of the financial institutions who offer the highest rate of returns are listed in the following table:

    Banks and NBFCs offering a higher rate of return on fixed deposit accounts:

    Bank/NBFC 1 year 2 year 3 year 4 year 5 year
    Mahaveer Bank 7.00% 8.00% 9.50% 9.50% 9.50%
    Mahindra Finance (Samruddhi) 7.35% 7.35% 7.40% 7.40% 7.40%
    ESAF Small Finance Bank 9.00% 8.00% 7.00% 7.00% 7.00%
    Fincare Small Finance Bank 8.00% 8.75% 9.00% 8.00% 8.00%
    KTDFC 8.25% 8.25% 8.25% 8.00% 8.00%
    LIC HFL 7.20% 7.25% 7.30% - 7.30%
    Lakshmi Vilas Bank (LVB) 7.10% to 7.25% 7.15% 7.15% 7.15% 7.15%
    RBL Bank 7.10% 7.20% 7.10% 7.10% 7.10%
    Repco Bank 7.25% 7.25% 7.00% 7.00% 7.00%
    IDFC Bank 7.00% 7.20% 7.20% 7.20% 7.20%
    DHFL 7.70% 7.80% 7.85% 8.00% 8.00%

    Highlights

    • Most banks and NBFCs provide interest in the range of 7.00% p.a. to 9.50% p.a.
    • The highest rate paid is by Mahaveer Bank where the rate paid is 9.50% p.a for a tenure of 3 years, 4 years, and 5 years
    • Mahaveer Bank pays 8.00% p.a. For 2 years and 7.00% p.a. for 1 year
    • Another bank that offers 9.00% p.a. is ESAF Small Finance Bank for a tenure of 1 year and 8.00% p.a. for 2 years
    • A bank rate of 8.75% p.a. is paid to those who invest in Fincare Small Finance Bank for 1 year, while for 3 years the rate of return is 9.00% p.a.
    • Some of the banks that offer more than 7.00% p.a. on deposits include IDFC Bank, Repco Bank, RBL Bank, and Lakshmi Vilas Bank
    • Lakshmi Vilas Bank offers an interest rate of 7.10% p.a. to 7.25% p.a. for all deposits held for 1 year, while other tenures will fetch the depositor a rate of 7.15% p.a.
    • Repco Bank offers 7.25% p.a. for 1 year and 2 year deposits, while IDFC pays 7.20% p.a for 2 years, 3 years, 4 years and 5 years
    • DHFL pays depositors at the rate of 7.85% p.a. for 3 years, 8.00% p.a. for 4 years and 5 years, 7.80% p.a. for 2 years and 7.70% p.a. for 1 year
    • KTDFC, on the other hand, pays interest at the rate of 8.25% p.a. for all FDs that are held from 1 year to 3 years, while for 4 years and 5 years, the deposit rate is 8.00% p.a.
    • LIC HFL pays 7.30% p.a. for 3 years and 5 years respectively
    • On the other hand, RBL pays more than 7.00% p.a. for all its FD schemes that range from 1 year to 5 years
    • Mahindra pays 7.35% p.a. for 1 year and 3 years, while for other tenures the rate of interest that is applicable is 7.40% p.a.

    Customer Reviews

    • SBI Fixed Deposit
      "Good FD account"
      0.5 5.0/5 "Blown Away!"
      I have invested the fixed deposit with State bank of India. Since the branch is nearest by my home and they have given me a locker facility hence i have chosen the fixed deposit with SBI. Overall, I'm very much satisfied with the services with SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 18, 2019
    • YES Bank Fixed Deposit
      "Fraud by Yes Bank"
      0.5 1.0/5 "Really Bad"
      Yes Bank has not credited Interest for my Fixed Deposit. On enquiring they gave me a story that the interest amount has been adjusted towards TDS. They have not provided credit entry for the interest and the debit entry for the TDS respectively.
      Was this review helpful? 2
      , bhopal
      Reviewed on Jan 11, 2019
    • ICICI Bank Fixed Deposit
      "Smart Investment"
      0.5 5.0/5 "Blown Away!"
      In ICICI fixed deposit interest rate is around 6.75% per annum, I opened the FD through online. I have invested Rs. 1 lakh they wont take any charges for the pre matured fixed interest. I believe the interest rate is good compared to the government bank.
      Was this review helpful? 2
      , yamuna nagar
      Reviewed on Jan 10, 2019
    • Kotak Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I am having a Fixed Deposit account with Kotak Mahindra bank, they provide good services when compared to other banks. I get good interest rate in returns after the maturity period which is after 3 years. Customer support is average with Kotak Mahindra bank.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 10, 2019
    • HDFC Bank Fixed Deposit
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I also have a fixed deposit account with HDFC Bank. The process to open this account is easy. I can do it online. They also offer a good rate of interest on the account. The bank has always been up to the mark to ban with. It is very convenient and easy.
      Was this review helpful? 3
      , noida
      Reviewed on Jan 09, 2019
    • IOB Fixed Deposit
      "Better Banking Experience"
      0.5 4.0/5 "Great!"
      I have invested a fixed deposit with Indian Overseas Bank. My wife has recommended me about this bank since she is working over there. I invested the money of Rs. 50000. I don't remember about the tenure period. Before 1 years, i have invested the money with them.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Jan 09, 2019
    • ICICI Bank Fixed Deposit
      "Good Deposit"
      0.5 5.0/5 "Blown Away!"
      I have invested a fixed deposit with ICICI. There is no reason for selected this bank. They have offered me a interest rate of 6.5% and there is no processing fee. I have invested the money 8 months before. This is a one year plan. I'm happy about the services provided by the ICICI for this account
      Was this review helpful? 1
      , thane
      Reviewed on Jan 04, 2019
    • Corporation Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      I had account with Corporation Bank and its very old one. I put fixed deposit before 3 to 4 years. The interest rate was around 7% which was minimum compared to others but am satisfied. I have deposited for 5 years. Actually have not taken any benefits, just have invested. The customer service was okay.
      Was this review helpful? 3
      , pune
      Reviewed on Jan 04, 2019
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account on line. I have chosen HDFC because of bank financial is good. I have just started long time, The process was very quick and it was done through on line.
      Was this review helpful? 4
      , thane
      Reviewed on Jan 02, 2019
    • SBI Fixed Deposit
      "Best Investment plan"
      0.5 5.0/5 "Blown Away!"
      I have taken fixed deposit account in State Bank Of India . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 5
      , ahmedabad
      Reviewed on Dec 29, 2018
    • review Fixed Deposit
      "Good online features on FD"
      0.5 5.0/5 "Blown Away!"
      In Saraswat bank they are providing the interest around 7% per annum, the minimum amount Rs. 5000 to max, still my FD is running with this bank. The online options are excellent without visiting I can track the interest and deposit amount through online.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 17, 2018
    • HDFC Bank Fixed Deposit
      "Convenient FD with HDFC"
      0.5 5.0/5 "Blown Away!"
      In HDFC I can deposit for minimum of Rs. 5000 to max amount. I done the investment of one time payment around Rs.6 lakhs. I can chose the tenure period based on the convenient, it gives the interest of 7% its maximum. I can open and close the account through online.
      Was this review helpful? 6
      , pune
      Reviewed on Dec 17, 2018
    • SBI Fixed Deposit
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had made this investment pretty long time back and the services which they had provided so far has been good. The interest rate with them has been good and the growth with the investment has also been good. Their customer support has been helpful in guiding with everything.
      Was this review helpful? 9
      , bangalore
      Reviewed on Dec 14, 2018
    • YES Bank Fixed Deposit
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good service which they had been providing so far and i had started this investment a log time back. Their customer support has been helpful in guiding me in the investment plans and explaining with the growth of the investment. The interest rate with them has also been good.
      Was this review helpful? 4
      , bangalore
      Reviewed on Dec 14, 2018
    • Citibank Fixed Deposit
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      I had started this investment a pretty long time back and they had been providing a good service. Their customer support has not been responsive and i do not suggest any one to make an investment through them. There has not been a good growth with the investment.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 14, 2018
    • SBI Fixed Deposit
      "Good Investment Plan"
      0.5 4.0/5 "Great!"
      I have taken fixed deposit account in STATE BANK OF INDIA . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 12, 2018
    • Post Office Fixed Deposit
      "Good investment plan"
      0.5 5.0/5 "Blown Away!"
      I have started investing in the fixed deposit almost more than 5 years. I have invested a variable amount in different times. They have offered me a interest rate of 7.5%. The response was good. I have chosen the post office because of the safe and security.
      Was this review helpful? 14
      , guwahati
      Reviewed on Dec 12, 2018
    • YES Bank Fixed Deposit
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the Yes bank and the interest rate they have given me is good, also the customer service is good too they have co-ordinated with me well they time to time update me about there date of pay my next fixed deposit date.On line banking services are fine one too and am really happy with them.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 11, 2018
    • Axis Bank Fixed Deposit
      "Average bank to avail fixed deposit"
      0.5 4.5/5 "Excellent!"
      I have chosen the Axis bank for my fixed deposit. I have deposited around of Rs. 50000. Since they are providing very good services in their branch. They have offered me a interest rate of 6.5%. I put the money in 2015. I have visited their branch many times and the service is very much prompt. I had no issues with them.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 11, 2018
    • ICICI Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit is with ICICI Bank. I had to go to the bank and meet the executive and open the account. I can close the account online. There is a lock in period for 12 to 13 months. The interest I earn is satisfactory. I have a deposit of 70K. Overall good.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 07, 2018
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