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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 2019:

    Top 10 1-year FDs for 2019
    Bank Regular FD Rates (per annum) Senior Citizen FD Rates (per annum)

    ESAF Small Finance Bank

    8.75%

    9.25%

    Kerala Transport Development Finance Corporation Limited (KTDC)

    8.50%

    8.75%

    Utkarsh Small Finance Bank

    8.50%

    9%

    Shriram City Union Finance

    8.25%

    8.50%

    LIC Housing Finance Limited

    8.15%

    8.40%

    Fincare Small Finance Bank

    8%

    8.50%

    RBL Bank

    8%

    8.50%

    ICICI Home Finance

    7.9%

    8.15%

    Lakshmi Vilas Bank

    7.75%

    8.35%

    Repco Bank

    7.70%

    8.20%

    *The Interest rates are subject to change and can be revised at the discretion of the bank

    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 interest rate offered on the 1-year tenure is 8.75% p.a. for general public and 9.25% p.a. for senior citizens by ESAF Small Finance Bank
    • The second best FD interest rate if being offered by KTDC and Utkarsh Small Finance Bank where the interest rate paid for the 1-year deposit is 8.50% p.a. for general public and 9.00% p.a for senior citizens
    • Attractive interest rates are offered on 1-year term deposits and they range from 7.70% p.a. to 8.75% p.a. for the general public
    • For senior citizens the interest rate ranges from 8.20% p.a. to 9.25% p.a. for the 1-year tenure
    • ESAF, KTDC, and Utkarsh Small Finance Bank all offer interest rates of 8.50% or above for the one-year term deposits
    Best FD rates for 1 year 2019
    Best FD rates for 1 year 2019

    List of 10 best FD schemes for 1 year

      1. ESAF Small Finance Bank

      • 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 an interest of 9.25% p.a. to senior citizens for FDs opened for a period of 1 year
      • ESAF offers the highest rate of interest of 8.75% p.a. for the general public
      • All deposits are for less than Rs.1 crore

      2. KTDC

      • KTDC is an undertaking by the Kerala government. At present, it offers the best FD rates in 2019 for 1-year term deposit schemes.
      • An interest rate of 8.50% p.a. is paid to the general public while 8.75% p.a. is paid to senior citizens.
      • They offer Periodic Interest Payment Schemes (PIPS) and Money Multiplier Schemes (MMS).
      • The minimum tenure is 1 year, while maximum tenure is 5 years.

      3. Fincare Small Finance Bank

      • 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 the general public and 8.50% p.a for the senior citizens
      • Attractive and competitive interest rates are offered

      4. Utkarsh Small Finance Bank

      • 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.
      • The interest that is payable to the general public is 8.50% p.a. on 1-year term deposits that are less than Rs.2 crore
      • For senior citizens the interest rate offered is 9% p.a.
      • 1% fee levied in case of premature withdrawal

      5. Shriram City Union Finance

      • 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-cumulative FDs is 8.25% p.a.
      • The interest rate offered for senior citizens is 9.50% p.a.

      6. LIC Housing Finance Ltd

      • LIC Housing Finance Ltd is one of the NBFCs that provide competitive interest rates.
      • An interest rate of 8.15% p.a. is offered on all deposits of up to Rs.20 crore
      • The interest is compounded on a yearly basis
      • For senior citizens the rate of interest paid is 8.40% p.a. for deposits up to Rs.20 crore

      7. Repco Bank

      • 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 7.70% p.a. for general public and 8.20% p.a. for senior citizens
      • Minimum period of 1 year and maximum period of 5 years

      8. ICICI Home Finance

      • ICICI Home Finance offers good interest rates and their deposit schemes are well-rated.
      • An interest rate of 7.9% p.a. is offered for deposits made for a year
      • They offer annual, quarterly and monthly income plans
      • Special interest rates are offered on various tenure

      9. RBL Bank

      • RBL Bank FDs can be opened at the click of a button and offers many perks to investors.
      • The interest rate of 8% p.a. is offered for deposits up to Rs.3 crore
      • For senior citizens, the bank offers an additional interest rate of 0.50%

      10. Lakshmi Vilas Bank

      • A wide range of time deposits options are available through Lakshmi Vilas Bank.
      • The rate of interest for 1-year deposits provided is 7.75% p.a. to general citizens
      • For senior citizens the rate of interest offered by the bank is 8.35% p.a.

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