There are many top banks in India that provide some of the best in class fixed deposit (FD) schemes. In this article, we have compiled a list of some of the best banks across the country for opening fixed deposit accounts.
Given below are some of the top bank FDs in 2017:
Mahaveer Bank provides a wide variety of fixed deposit schemes that come with various tenure ranges. The offer attractive and best interest rates that range from 7% to 9.5%. All senior citizens will be eligible for a 0.5% extra interest, over and above the regular rate. The interest is calculated on a quarterly basis.
Suryoday Small Finance Bank also provides competitive interest rates and offers one among the top bank FD rates in India. They pay a high-yielding interest rate of 9% on fixed deposits for less than 1 crore for a period ranging from 1 year to 23 months. The interest is compounded on an annual basis.
ESAF Small Finance Bank offers customers many fixed deposit schemes and pays a good yield. They offer a 9% interest rate on deposits held for a tenure ranging from 1 to 3 years. Senior citizens can avail a 9.5% interest rate of deposits for the same time period.
Bandhan Bank provides various FD schemes such as FD Premium, FD Standard, FD Tax Saver, FD Advantage and FD Dhan Samriddhi. They pay an interest rate of 7.25% for 1-year term deposits and deposits held for more than 1 year but less than 2 years. All rates are paid for an investment amount less than Rs.1 crore. Senior citizens will be paid an additional 0.5% interest.
DCB Bank provides investors flexible payment options and customers can enjoy the benefit of compound interest that is calculated on a quarterly basis. The minimum time period for which one can hold deposits is 14 days and the maximum period is 10 years. They pay 7.2% for deposits less than Rs.100 lakhs for a time period ranging from 3 to 5 years
IDFC Bank is a well-known private sector bank that provides some of the best FD schemes in the country. They offer a 7.5% interest rate on deposits that are held for 366 days for a sum of Rs.1 crore or less. They also offer tax saver deposits for a tenure of 5 years.
Ratnakar Bank is the fast-growing commercial bank that offers various fixed deposit options. The FD schemes come with a range of exclusive benefits. They offer regular fixed deposits, Tax saving fixed deposit, senior citizen deposits, etc. An interest rate of 7.5% is paid for deposits held between 2 to 3 years.
A top, award-winning co-operative bank, Repco offers an interest rate that ranges between 7 to 7.5%. They provide a special FD scheme for women called the Repco Mahila scheme for a time period of 18 months at an interest rate of 7.5%. Senior citizens are eligible for an interest rate of 8% for deposits held for 1 to 2 years.
One among the many top banks for FD schemes, Yes Bank has won many awards and honours. The bank has been rated as one among the ‘Top Banks’ in India. Their interest rates on FDs range from 7 to 7.2%. They also offer deposits for NRIs and senior citizens.
IndusInd Bank is also one of the top banks that provides a wide range of fixed deposit schemes. They offer FD schemes for various tenures ranging from 1, 2, 3, 4, 5 years or more. Their interest rates range between 7 to 7.15%.
Top Banks Fixed Deposit Interest rates are listed below for tenures 1 year, 2 years, 3 years, 4 years and 5 years:
|Bank||1 year||2 year||3 year||4 year||5 year||5 and more|
|Suryoday Small Finance Bank||9%||8.75%||8%||8%||7.5%||Nil|
*Please note that interest rates are subject to change
Updated 9th August 2017