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  • Best FD Interest Rates for 1 Year 2019

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    Best FD Interest Rates for 1 Year 2019

    Given below is the updated list of 10 banks that pay the highest interest on fixed deposit schemes with a 1-year tenure in 2018:

    Best FD Rates for 1 year 2019
    Bank Regular FD Rates (per annum) Senior Citizen FD Rates (per annum)
    ESAF Small Finance Bank 9.00% 9.50%
    Kerala Transport Development Finance Corporation Ltd (KTDC) 8.25% 8.50%
    Fincare Small Finance Bank 8.00% 8.50%
    Utkarsh Small Finance Bank 8.00% 8.50%
    Shriram City Union Finance 7.50% 7.75%
    LIC Housing Finance Ltd 7.30% 7.40%
    Repco Bank 7.25% 7.75%
    ICICI Home Finance 7.20% 7.45%
    RBL Bank 7.10% 7.60%
    Lakshmi Vilas Bank 7.10% 7.60%

    *Interest rates are subject to change and can be revised from time to time

    There are many banks and financial institutions that offer attractive interest rates for 1-year fixed deposits (FDs). Time deposits are one of the best investment options that offer a guaranteed rate of return after a certain set period of time. It is considered a safe and reliable type of investment for cautious investors who do not want to take risks. In a deposit account, a certain sum of money is deposited for a predetermined tenure, and interest can be earned on the same. Investors can choose from a wide range of term deposit options available in the market. There are short, medium and long-term fixed deposits. Opening a fixed deposit account is a simple process and can be done online with minimum documentation.

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    Key FD highlights for 1-year tenure

    • The highest FD rate offered is 9% p.a. for regular individuals and 9.50% p.a. for senior citizens by ESAF Small Finance Bank
    • The second best best FD interest rate if being offered by KTDC, where the interest rate paid for 1 year deposits is 8.25% p.a. for regular individuals and 8.50% for senior citizens
    • Attractive interest rates are offered on 1 year FDs and they range from 7.10% p.a. to 9.00% p.a. for regular term deposits
    • For senior citizens the interest range offers extends from 7.60% p.a. to 9.50% p.a. for a tenure of 1 year
    • ESAF, KTDC, Fincare Small Finance Bank and Utkarsh Small Finance Bank all offer interest rates of 8% or above

    List of 10 best FD schemes for 1 year

    1. ESAF Small Finance Bank
    2. ESAF Small Finance Bank is an NBFC that has presence in rural, semi-urban and urban areas. The small finance bank offers the best interest rates in the industry, and other benefits.

      • They offer more than 9.50% interest p.a. on senior citizens FDs for 1 year
      • ESAF offers the highest rate of interest of 9% for regular individuals
      • All deposits are for less than Rs.1 crore
      • The bank offers regular, flexi and group-based schemes
    3. KTDC
    4. KTDC is an undertaking by the Kerala government. At present, it offers the best FD rates in 2018 for 1 year term deposit schemes.

      • An interest rate of 8.25% is paid for regular individuals and 8.50% p.a. for senior citizens.
      • The minimum investment amount is Rs.10,000
      • They offer Periodic Interest Payment Schemes (PIPS) and Money Multiplier Schemes (MMS)
      • The minimum tenure is 1 year, while maximum tenure is 5 years
    5. Fincare Small Finance Bank
    6. Fincare Small Finance Bank offers a wide range of term deposit schemes and flexible tenure options.

      • The interest rate offered for 1 year deposits is 8.00% p.a. for individuals and 8.50% for those above 60 years of age
      • The bank offers Smart Fixed Deposits and Priority Plus Fixed Deposit schemes
      • Interest is paid on a monthly, quarterly basis based on the discretion of the customer
      • Attractive and competitive interest rates
    7. Utkarsh Small Finance Bank
    8. Utkarsh Small Finance Bank FD schemes come with a wide range of features and benefits. This is one of the highest interest paying term deposit options.

      • Interest is payable at 8% p.a. on all deposits of less than Rs.1 crore, held for this tenure
      • For senior citizens the interest rate offered is 8.50%
      • Minimum investment amount Rs.1,000, no maximum limit
      • 1% fee levied in case of premature withdrawal
    9. Shriram City Union Finance
    10. Shriram City Union Finance term deposits come in two variants: cumulative and non-cumulative.

      • The interest payout options include monthly, quarterly, half-yearly and yearly
      • The interest rate offered for yearly, non-cumulatives FDs is 7.50% p.a.
      • MInimum investment amount required is Rs.5,000 for cumulative FDs and Rs.10,000 for non-cumulative term deposits
      • The interest rate offered for senior citizens is 7.75% p.a.
    11. LIC Housing Finance Ltd
    12. LIC Housing Finance Ltd is one of the NBFCs that provide competitive interest rates.

      • An interest rate of 7.30% is offered on all deposits of up to Rs.5 crore
      • The interest is compounded on a yearly basis
      • For senior citizens the rate of interest paid is 7.40% p.a. for deposits up to Rs.50,000
      • For senior citizen deposits more than Rs.50,000, the rate of interest paid is 7.55%
    13. Repco Bank
    14. Repco Bank is a well-known bank that offers a range of time deposits options for both regular depositors and those above 60.

      • The interest rate paid is 7.25% p.a. for individuals and 7.75% p.a. for senior citizens
      • The bank offers a special money multiplier scheme
      • Interest is compounded on a quarterly basis
      • Minimum period of 1 year and maximum period of 5 years
    15. ICICI Home Finance
    16. ICICI Home Finance offers good interest rates and their deposit schemes are well-rated.

      • An interest rate of 7.20% p.a. is offered for regular deposits
      • For senior citizens the rate paid is 7.45% p.a.
      • They offer annual, quarterly and monthly income plans
      • They also offer special interest rates
    17. RBL Bank
    18. RBL Bank FDs can be opened at the click of a button and offers many perks to investors.

      • An interest rate of 7.10% p.a for all deposits of less than Rs.1 crore
      • For senior citizens an additional interest rate of 0.50% is applicable
      • It is a must to go to the branch if FDs are for more than Rs.3 crore
    19. Lakshmi Vilas Bank
    20. A wide range of time deposits options are available through Lakshmi Vilas Bank.

      • The rate of interest for 1-year deposits is 7.10% p.a.
      • For senior citizens the rate of interest is 7.60% pa.
      • Pre closure charges applicable at the rate of 1%
      • Flexible tenure options

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