Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
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  • Fixed Deposit BYTES FROM OUR KITCHEN

    Best FD Interest Rates for 1 Year

    There are many banks and financial institutions that offer attractive interest rates for 1-year fixed deposits. Fixed 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 fixed deposit account, a certain sum of money is deposited for a fixed tenure, and interest can be earned on the same. Investors can choose from a wide range of fixed 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.

    Here are 10 of the highest interest yielding fixed deposit schemes with a 1-year tenure:

    1.    Kerala Transport Development Finance Corporation (KTDFC)

    KTDFC, an undertaking by the Kerala government, offers an attractive interest rate of 8.25% on fixed deposits for a tenure of 1 year. These term deposits have received a guarantee from the government of Kerala.

    Interest rate Amount of investment Tenure
    8.25% Minimum investment of Rs.10,000 1 year

    2.    Shriram City Union Finance Co. Ltd.

    Shriram City Union Finance Co. Ltd. is a Non-Banking Financial Company (NBFC) that offers a wide range of financial products. Their products and services are well-known in the market. They provide a competitive interest rate of 7.75% on fixed deposits.

    Interest rate Amount of investment Tenure
    7.75% Up to Rs.25 lakh 1 year

    3.    RBL Bank

    RBL Bank is a private sector bank that offers good interest rates on term deposits. At present, their fixed deposit accounts can be opened at an interest of 7.40%. They offer a wide range of fixed deposit terms.

    Interest rate Amount of investment Tenure
    7.40% Less than Rs.1 crore 1 year

    4.    LIC Housing Finance Ltd.

    LIC Housing Finance Ltd. offers an interest rate of 7.3% on fixed deposits for a period of 1 year. The interest payable is compounded annually. This deposit scheme has been rated safe and stable.

    Interest rate Amount of investment Tenure
    7.30% Up to Rs.5 crore 1 year

    5.    Bandhan Bank

    Bandhan Bank fixed deposit come with an interest rate of 7.25% for all deposits that are less than Rs.1 crore. All senior citizens will be eligible for an additional 0.50% interest.

    Interest rate Amount of investment Tenure
    7.25% Up to Rs.1 crore 1 year

    6.    Repco Bank

    Repco Bank offers an interest rate of 7.25% on fixed deposit accounts of 1-year tenure. The interest is compounded quarterly and paid upon maturity. Loans can be availed on this term deposit.

    Interest rate Amount of investment Tenure
    7.25% As mentioned by the bank 1 year

    7.    Gruh Finance limited

    Gruh Finance limited offers an interest rate of 7.25%. They provide an additional 0.25% interest for deposits booked by senior citizens. Interest is payable upon maturity.

    Interest rate Amount of investment Tenure
    7.25% Minimum investment of Rs.1,000 1 year

    8.    ICICI Home Finance

    ICICI Home Finance has a good credit rating. They offer flexible tenure options. An interest rate of 7.2% is provided on fixed deposit.

    Interest rate Amount of investment Tenure
    7.20% As decided by the bank in coordination with the customer 1 year

    9.    Yes Bank

    Yes Bank offers an attractive rate of 7.10% on fixed deposits for a tenure of 1 year. They offer tax saver deposits and other range of term deposits as well.

    Interest rate Amount of investment Tenure
    7.10% Less than Rs.1 crore 1 year

    10.  Lakshmi Vilas Bank

    Lakshmi Vilas Bank offers an interest rate of 7% on fixed deposits for a tenure of 1 year. Loans can be availed on fixed deposit.

    Interest rate Amount of investment Tenure
    7% As decided by the bank in coordination with the customer 1 year

    *Please note that all interest rates for senior citizens will be higher. As per the discretion of the bank a certain higher percentage of interest will be provided for senior citizens.

    News About Best FD Interest Rates for 1 Year

    • RBI Bonds Scheme to be replaced with 7.75% Savings Bonds Scheme

      After reports surfaced that the Government has stopped the subscription for RBI Bonds Scheme, the Economic Affairs Secretary Subhash Chandra Garg took to Twitter to clear the doubts. He informed through a tweet that the RBI Bonds Scheme has not been closed but only been replaced by the 7.75% Savings Bond Scheme. The reports of closing the RBI Bonds Scheme also known as 8% Savings Bonds Scheme drew sharp reactions as it is one of the preferred choices. This is because the scheme provides regular guaranteed income.

      The scheme is quite popular as it offers the investors a fixed interest rate of 8%. Apart from that, it enables investors to choose between cumulative and non-cumulative modes for the payment of interest. Other benefits associated with the scheme are that one can start with a mere investment of Rs. 1000, no maximum limit on the investments and the fact that the money deposited compounds on a half yearly basis.

      2nd January 2018

    Perfect Fixed Deposits Deals for you

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