• Best FD Rates For 2 Years 2019

    There are a number of banks and Non-Banking Financial Companies (NBFC) that offer good Fixed Deposit (FD) rates on the 2-year tenure. The interest rate offered goes up to 8.75% p.a. Term deposits are a great investment option as they come with a wide range of benefits such as guaranteed returns, premature withdrawal facility, loan, and nomination facility, among others. All senior citizens are eligible to avail an additional rate of interest on time deposits.

    The following is the revised list of 10 banks and financial institutions that pay the highest interest on fixed deposits with a 2-year tenure in 2019:

    Best FD Rates for 2 years 2019
    Bank Interest rates for General Public (p.a.) Interest rates for Senior Citizens (p.a.)
    Fincare Small Finance Bank 8.75% 9.25%
    Suryoday Small Finance Bank 8.50% 9.00%
    KTDFC 7.50% 7.75%
    ESAF Small Finance Bank 8.00% 8.50%
    Utkarsh Small Finance Bank 8.00% 8.50%
    LIC Housing Finance Limited 7.90% 8.15%
    IDFC Bank 8.00% 8.50%
    Repco Bank 7.70% 8.20%
    Lakshmi Vilas Bank 7.50% 8.10%
    ICICI Bank 7.10% 7.60%

    *Interest rates are revised from time to time by banks and financial institutions at their discretion

    2-year FD rates highlights

    • The best interest rate for a 2-year FD is offered by Fincare Small Finance Bank, which pays an interest rate of 8.75% p.a. to general citizens
    • Senior citizens are provided 9.25% p.a. on their time deposits opened for a period of 2 years
    • A number of small finance banks offers high interest rates when it comes to 2-year fixed deposits. They are ESAF Small Finance Bank, Utkarsh Small Finance Bank, Suryoday Small Finance Bank, etc.
    • Repco Bank, ICICI Bank, Lakshmi Vilas Bank and IDFC Bank also offers good interest rates on term deposits having a 2-year investment period

    List of 10 best FD schemes for 2 years

    1. Fincare Small Finance Bank
      • Fincare Small Finance is one of the highest-paying banks in the small finance bank sector.
      • General public are offered 8.75% p.a. for investing in 2-year FDs
      • Senior citizens are provided an interest rate of 9.25% p.a.
      • The bank offer individuals' facilities like premature withdrawal, nomination, and loans on FDs
      • The option of joint account is also made available by Fincare Small Finance Bank
    2. Suryoday Small Finance Bank
      • Suryoday Small Finance Bank offers different interest payout options and has a wide range of time deposit options.
      • The bank offers an interest rate of 8.50% p.a. to regular depositors
      • Senior citizens are offered an interest rates that is 0.50% more than the one offered to the general public
      • In case of premature withdrawal, 1% charge is applicable
      • The bank provides a minimum tenure of 7 days and a maximum of 10 years
    3. KTDFC
      • KTDFC is an NBFC that offers a high rate of return on the 2-year time deposit scheme.
      • Attractive interest rate of 7.50% p.a. to regular individuals and 7.75% p.a. for senior citizens is offered.
      • All investors need to put in at least Rs.10,000 to open an FD with the non-banking financial company that is registered under Reserve Bank of India.
      • The minimum and maximum tenures to open this fixed deposit is 1 year and 5 years, respectively.
    4. ESAF Small Finance Bank
      • Another NBFC, the bank is a good option for those who want to earn a good rate of return on their investment.
      • The interest rates are applicable for all time deposits with a value of less than Rs. 2 crore
      • The bank offers an interest of 8% p.a. for general citizens
      • Senior citizens are paid an interest of 8.50% p.a.
      • Various benefits like loan and overdraft is provided to individuals by the NBFC
    5. Utkarsh Small Finance Bank
      • This is another good option for parking funds for a 2-year period.
      • The rate of interest offered to general public is 8.00% p.a.
      • For senior citizens the applicable interest rate is 8.50% p.a.
    6. LIC Housing Finance Ltd
      • LIC is another NBFC that offers a great rate of return and a number of other benefits to individuals who open an FD with them
      • For all time deposits the frequency of compounding is annual
      • The interest rate offered for general citizens is 7.90% p.a.
      • The rate of interest offered to senior citizens is 8.15% p.a.
      • Nomination facility made available for individuals
    7. IDFC Bank
      • IDFC Bank provides good interest rates on all time deposit schemes and there are a wide range of tenure options to choose from.
      • A competitive interest rate of 8.00% p.a. is provided to general citizens
      • For those above 60 years of age, an interest rate of 8.50% p.a. is paid
      • Reinvestment of interest can be made, and interest is compounded on a quarterly basis
      • Interest is also paid on a monthly basis
    8. Repco Bank
      • Repco Bank provides different investment options when it comes to fixed deposits.
      • An interest rate of 7.70% p.a. is. offered on all term deposits opened for a period of 2 years
      • Senior citizens get paid at the rate of 8.20% p.a. for the same time period
    9. Lakshmi Vilas Bank (LVB)
      • LVB is a good option to put money and earn a good rate of return in 2 years.
      • The bank offers an interest rate of 7.50% p.a. for regular account holders and 8.10% p.a. for senior citizens
      • Premature withdrawals can be made after a penalty is paid
      • Individuals can avail a loan against the FD opened with the bank
      • Other benefits such as nomination and overdraft are also made available to individuals
    10. ICICI Bank
      • Last but not the least, ICICI Bank is also a good option to choose for a 2-year investment.
      • A deposit rate of 7.10% p.a. is paid to general citizens
      • Those above 60 years are paid an interest rate of 7.60% p.a.
      • One can choose from cumulative, non-cumulative, quarterly, monthly or short-term term deposits
      • TDS is applicable on the FDs

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