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    Top Bank FDs in India in 2015

    We found 111 Top Bank FDs in India in 2015

    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% - 8.15% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 7.35% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    15 Days to 20 Years
    4.25% - 6.9% 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% - 7.10% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.4% 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% - 7.35% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.85% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
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  • Top Bank FDs in India in 2015 Reviews

    • SBI Fixed Deposit
      "Convenient to Hold"
      0.5 4.0/5 "Great!"
      It has been two years when I opened fixed deposit with State bank of India. The period is for five years. Since I completed two years, three years to go. Interest rate is of 11%. Actually SBI is located near to my house so I feel more comfortable in visiting the bank at any instance. All the staffs are very friendly and very cooperative.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on May 25, 2017
    • SBI Fixed Deposit
      "Secured investment"
      0.5 5.0/5 "Blown Away!"
      Compared to other banks SBI offering good interest rate on fixed deposit, they offered me 7.95% of interest. I have the amount of Rs. 2.4 lakhs for the tenure of three years. After the maturity period I got the amount around 2.9 lakhs. I am very much fine with that.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 24, 2017
    • Karur Vysya Bank Fixed Deposit
      "Good"
      0.5 3.5/5 "Pretty good"
      I am having the fixed deposit account with the Karur Vysya bank and the account got opened within one to two days of time. Tenure is for five years of time and after that it will be get matured. Rate of interest was around 8.5% to 9% on that time with the tax redemption.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 23, 2017
    • Karnataka Bank Fixed Deposit
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      I have an account for fixed deposit only with Karnataka bank. I have deposited around fifty five lakhs. I bank with Karnataka for more than twenty years, even my family members are having an account with the same bank. Their services are really good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2017
    • ICICI Bank Fixed Deposit
      "Good one"
      0.5 3.5/5 "Pretty good"
      I have fixed deposit account with the ICICI bank and I got it from them because I had the salary account with them. Within two days of time fixed deposit account got opened and the maturity period is around one year of time. Interest rate is around 8% with them and am not that much happy with that. I would like to suggest that they can increase the rate of interest for the deposits.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • SBI Fixed Deposit
      "Too much of process involved"
      0.5 2.5/5 "Just OK"
      At other private bank a fixed deposit could be opened online and a customer does not have to visit the bank. In my case I had to visit State bank of India to open a fixed deposit and it has a lot of process involved. Like wise to close the same it is the same scenario.
      Was this review helpful? 3
      , pune
      Reviewed on May 10, 2017
    • SBI Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit account with the State bank of India and the interest rate is around 6.2% for the tenure of five years of time. I have opened this account through online, so it got happened very immediately. Charges are nil with them and I can get the money withdrawal in fraction of seconds.
      Was this review helpful? 4
      , pondicherry
      Reviewed on May 09, 2017
    • SBI Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Long back I had Fixed deposit account with State bank of India. I selected the tenure period for six years. The bank had fixed a good rate of interest. At last I received the money with the promised interest amount. I am much satisfied with SBI for the FD service.
      Was this review helpful? 3
      , hyderabad
      Reviewed on May 09, 2017
    • Bank of Baroda Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had Fixed Deposit account with Bank of Baroda about quite long back. The tenure period is six years and the fixed amount is four to five lakhs. The percentage of interest rate is quite good and they returned the money back with the promised interest amount.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 09, 2017
    • ICICI Bank Fixed Deposit
      "Average "
      0.5 2.0/5 "Expected more"
      I have withdrawn my fixed deposit account with the ICICI bank and the interest rate was around 7%. It took around one to two hours of time to open the account through online. There are no charges while withdrawing the amount , also it took around one month of time to get it.
      Was this review helpful? 1
      , pudukkottai
      Reviewed on May 08, 2017
    • IDBI Fixed Deposit
      "Very Responsive"
      0.5 4.0/5 "Great!"
      I deposited some amount with IDBI bank as a fixed deposit. Actually I deposited this amount for future savings also I will be getting some good interest rate at the end of the year. I got good support from the bank executives and they provided all the information regarding FD.
      Was this review helpful? 1
      , indore
      Reviewed on May 04, 2017
    • YES Bank Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      Yes bank have some banking issues with them I believe. I have savings account, recurring and fixed deposit account with them. I never received quick response from the bank. But the bank is good for my fixed deposit account. Simply I opened an account with them and getting better service on it.
      Was this review helpful? 1
      , indore
      Reviewed on May 04, 2017
    • Kotak Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have savings account with Kotak Mahindra bank. Even I have fixed deposit account as well. The period of FD is for one year. The bank is assigned relationship manager for me as I have so many accounts with them. I got good response from them for my FD. 1 years, 1years, relationship manager
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Satisfactory Service"
      0.5 5.0/5 "Blown Away!"
      Even I have fixed deposit with State bank of India. The tenure period is one year. I deposit certain amount with them as their interest rate is good and incomparable. SBI gives good response to the people and they are very supportive as well. I have no issues with SBI.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • Punjab National Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit with Punjab National Bank. I have deposited ceratin amount on my account. I got good response from the bank when I opened FD. The bank was so supportive and they provided all the information regarding FD. The interest rates too are pretty attractive.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Average "
      0.5 1.0/5 "Really Bad"
      I had invested in fixed deposit with the State bank of India and the interest rate is very less like its around 7.15%, also the returns are also very less, which will be also applicable with the tax. Services provided by them is really not good and I would like to suggest that they need to provide the customer service in a much better way.
      Was this review helpful? 2
      , bhopal
      Reviewed on May 03, 2017
    • SBI Fixed Deposit
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      In terms of interest rate and everything State Bank of India is fine to have the fixed deposit and the service aspects are working fine with them. I am having this account from the last six to seven years of time and the response is always very good with the State Bank of India.
      Was this review helpful? 2
      , mundra
      Reviewed on May 03, 2017
    • HDFC Bank Fixed Deposit
      "Excellent to Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the HDFC bank and the interest rate is differed according to the offers. All of my deposits will be taken care by my relationship manager. Total tenure is around five years of time and its a kind of small deposits. Net banking services are an excellent one with them.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 26, 2017
    • Punjab National Bank Fixed Deposit
      "Customer service should be good and unique for everyone"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the Fixed deposit and they have provided around 8.5% as interest rate. Services are perfect one for me and I do have good relationship with them because my relatives are working there. Net banking services are also working good and they are started to exhibit most of the services there.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Apr 26, 2017
    • Axis Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit account with the Axis bank and the minimum tenure is around five years of time. Response is a good one with them and everything was done through online. Net banking services are working in an excellent way and it is really wonderful.
      Was this review helpful? 1
      , kolkata
      Reviewed on Apr 25, 2017
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    Top Bank FDs in India in 2015 is Rated as "Excellent!" by 1739 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Bank fixed deposits have been an investment staple for most Indians and as the year 2015 gets underway, we find these fixed-income options have not lost their allure.

    What makes bank FDs a favorite among Indian investors?

    Even as financial markets in India develop and diversify, bank FDs continue to win over other channels of saving. The main reasons for this are:

    Simplicity - FDs are easy to understand. Money is deposited with a bank for a particular period of time in return for a fixed amount of interest. At the end of the deposit period, account-holders receive their principal investment along with the interest earned on it.

    Safety - Banks are considered to be the safest financial institutions in India, operating within a well-monitored framework, under the watchful eye of a regulatory authority viz. the RBI.

    Guaranteed returns - Interest rates on fixed deposits are pre-determined and remain unchanged throughout the deposit period. This makes it easy for an investor to calculate how much is due on maturity. Interest rates currently vary between 3.5% to 9.25% for holdings between 30 days to 5 years.

    Flexibility - Bank FDs let investors balance returns and liquidity. Deposits can be held with banks for varying tenures, starting as low as 7 days and going as high as 10 years. Additionally, depositors can choose to have interest credited to their accounts at regular intervals (usually every quarter). This creates a regular income stream without affecting the principal investment; this is especially useful for retired persons.

    Accessibility - Opening a fixed deposit account is easy with a multitude of options available from different banks located across the country. Paperwork is almost negligible and with more FD schemes being made available online, the application process is now quicker and more convenient than ever before.

    Easy to manage - There is little need to monitor bank deposits since investors know exactly how much is due to them on maturity. Interest rates don’t have to be tracked as they remain unchanged from the start to the end of the deposit period. Interest rates only have to be reviewed on renewal.

    Best Bank FDs Rates for 2015

    Below is a round-up of the highest interest rates offered on different FD schemes across the country and the banks that offer them. Interest rates depicted are the highest returns offered for a particular tenure, on a per annum basis. These schemes are categorised from a collective perspective i.e. all the sectors combined and further broken down to depict the best schemes for each sector i.e. public, private and foreign banks.

    (Rates shown are those in effect during the last week of January 2015* for a deposit amount of Rs.1 lakh)

    (All sectors)

    Medium and Long-Term Deposits

    5 years 9.25% TMB
    51 year 9.1% TMB
    1.5 years.9.00%Central Bank of India, Dena Bank, J&K Bank, Karur Vysya Bank, State Bank of Mysore, TMB
    2 years 9.00%Dena Bank, J&K Bank, Karur Vysya Bank, State Bank of Mysore, TMB
    3 years 9.00%Dena Bank, TMB
    4 years 9.00%Dena Bank, TMB

    Short-Term Deposits

    90 days 8.80% ING Vysya Bank
    6 months 8.75% TMB
    9 months 8.75% Indian Bank,IndusInd Bank,TMB,Yes Bank
    120 days 8.70% ING Vysya Bank
    60 days 8.00% TMB
    30 days/td> 7.75% State Bank of Mysore
    *Interest rates are subject to change.

    • Best Public-Bank FD Rates 2015
    • Medium and Long-Term Deposits

      1 year 9.00% Dena Bank, Central Bank of India, State Bank of Mysore
      1.5 years. 9.00% Dena Bank, Central Bank of India, State Bank of Mysore
      2 years 9.00% Dena Bank, State Bank of Mysore
      3 years 9.00% Dena Bank
      4 years 9.00% Dena Bank
      5 years 9.00% Dena Bank

      Short-Term Deposits

      9 months 8.75% Indian Bank,IndusInd Bank
      120 days 8.70% ING Vysya Bank
      6 months 8.55% Syndicate Bank
      90 days 7.75% State Bank of Mysore
      60 days 7.75% State Bank of Mysore
      30 days 7.75% State Bank of Mysore
      *Interest rates are subject to change.

    • Best Private-Bank FD Rates 2015
    • Medium and Long-Term Deposits

      5 years 9.25% TMB
      1 year 9.1% TMB
      1.5 years. 9.00% J&K Bank, Karur Vysya Bank, TMB
      2 years 9.00% J&K Bank, Karur Vysya Bank, TMB
      3 years 9.00% TMB
      4 years 9.00% TMB

      Short-Term Deposits

      90 days 8.80% ING Vysya Bank
      6 months 8.75% TMB
      9 months 8.75% TMB,Yes Bank
      120 days 8.70% ING Vysya Bank
      60 days 8.00% TMB
      30 days 7.50% TMB
      *Interest rates are subject to change.

    • Best Foreign-Bank FD Rates 2015
    • Medium and Long-Term Deposits

      1 year 8.25% Standard Chartered Bank
      3 years 7.75% Citibank
      4 years 7.75% Deutsche Bank
      1.5 years. 7.50% Citibank, Deutsche Bank
      2 years 7.50% Citibank, Deutsche Bank
      5 years 7.25% Standard Chartered Bank

      Short-Term Deposits

      9 months 8.25% Standard Chartered Bank
      90 days 8.00% HSBC
      6 months 7.75% Citibank
      120 days 7.75% Standard Chartered Bank
      60 days 7.50% Deutsche Bank
      30 days 7.00% Deutsche Bank
      *Interest rates are subject to change.

    How to choose a good fixed deposit scheme

    Although Bank FDs make great fixed-income options, they are not as simplistic as they appear. When choosing an FD scheme, don’t look at interest rates in isolation but consider the following as well:

    • What is the minimum amount required as initial investment?

      The initial investment required to open an FD account varies from bank to bank. For e.g. HDFC Bank stipulates a minimum amount of Rs.10,000 to open a regular FD account.

    • What is the penalty levied on premature withdrawals?

      Banks charge a penalty for breaking an FD i.e making premature withdrawals or closing accounts before maturity. Penalties are applied to the interest rate and can go up to 2% in some cases. This can greatly compromise expected returns. E.g. a penalty of 1% on a deposit featuring interest rates at 6% will earn account-holders net returns of 5% in case of early closure of the account (subject to bank conditions pertaining to holding periods).

    • How well does the bank service its customers?

      How a bank services its customers is important. Some banks delay crediting interest to depositors’ accounts while still others require constant follow-ups for renewals and issuing of fixed deposit receipts. Foreign and private banks are generally known for their promptness in providing information and processing transactions.

    • Does the bank provide loans against Fds?

      Most banks grant loans against fixed deposits. These loans feature interest rates which are lower than those of most personal loans. The interest payable on the loan is usually set off against the interest earned on the FD. This is an advantage for those who require funds but do not wish to break their FDs and lose out on returns.

    • Does the FD feature cumulative options?

      Under cumulative options, interest earned, instead of being credited to the account-holder, is compounded or reinvested at regular intervals. This maximises returns as interest earned is added to the principal for subsequent interest calculations.

      The longer the tenure and more frequent the compounding, the higher the returns under cumulative options. Some banks offer quarterly compounding while some offer half-yearly compounding.

    • Does the bank offer special senior citizen / employee rates?

      Most banks offer special FD rates for senior citizens and bank employees. Senior citizens are generally offered an extra 0.25% - 0.50% on rates offered to regular customers while employees generally earn 1% over standard rates. Retired persons can create a regular income stream by having interest earned on deposits credited to their account.

    • What is the effective rate of return post taxes?

      Interest earned has to be declared as part of an account-holder’s overall income and is taxable according to the appropriate tax slab. While determining the desired rate of return, taxes should be considered. For e.g. If a depositor earns 9% on a deposit and is liable to pay tax at the rate of 30%, his/her effective rate of interest is 6.3%. This information is useful when comparing schemes to choose the one that provides optimum returns. (For interest earned on fixed deposits over Rs.10,000 in a financial year, tax will be deducted at source, by the bank @ 10%.)

    Outlook for bank fixed deposits in 2015

    Given the changing economic scenario in India, the question on most investors’ minds is - ‘Is it a good time to invest in bank FDs?’

    Rate cuts are already signalling a downward trend in the interest rate cycle and banks are expected to bring down interest rates on fixed deposits in the coming quarters. Some banks have already acted on this by reducing rates between 25 to 50 bps over the last month.

    In view of these developments, long-term FDs appear to be the best option for those who can trade-off on liquidity and lock-in funds for a period of 3 to 5 years at current rates, before returns are lowered in line with market changes. Investing in tax-saving FDs, which have a minimum lock-in period of 5 years will also reap long-term benefits at current rates.

    This will prove most beneficial to those in the lower tax brackets or those whose incomes fall below the tax exemption limits. It is also an advantageous prospect for senior citizens / retirees who can lock-in interest income at current high rates for the next few years.

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