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  • Best FD Rates For 2 Years

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    Best FD Rates For 2 Years

    There are a number of banks and Non-Banking Financial Companies (NBFC) that offer good Fixed Deposit (FD) rates, that go up to 8.75% per annum (p.a.), for an investment period of 2 years. 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 2018:

    Best FD Rates for 2 years 2018
    Bank Regular FD Rates (per annum) Senior Citizen FD Rates (per annum)
    Fincare Small Finance Bank 8.75% 9.25%
    Suryoday Small Finance Bank 8.50% 8.75%
    KTDFC 8.25% 8.50%
    ESAF Small Finance Bank 8.00% 8.50%
    Utkarsh Small Finance Bank 7.85% 8.35%
    LIC Housing Finance Ltd 7.40% 7.50%
    IDFC Bank 7.25% 7.75%
    Repco Bank 7.25 7.75%
    Lakshmi Vilas Bank 7.15% 7.65%
    ICICI Bank 6.80% 7.30%

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

    2-year FD rates highlights

    • The best FD rate for 2 years is offered by Fincare Small Finance Bank, which pays an interest rate of 8.75% p.a.
    • Senior citizens can expect around 9.25% p.a. on their time deposits
    • The annual percentage gain from this tenure range varies between 6.80% p.a. to 9.00% p.a.
    • A number of small finance banks offers high deposit rates including 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 all time deposit schemes

    List of 10 best FD schemes for 2 years

    1. Fincare Small Finance Bank
    2. Fincare Small Finance is one of the most highest-paying banks in the small finance bank sector.

      • Deposit rates range from 8.75% p.a. for all individuals
      • For senior citizens the applicable rate is 9.25% p.a.
      • Premature withdrawal, nomination and loan on FD available
      • Joint account option available
    3. Suryoday Small Finance Bank
    4. Suryoday Small Finance Bank offers different interest payout options and has a wide range of time deposit options to choose from.

      • A deposit rate of 8.50% p.a. is offered for all regular depositors
      • Those above 60 years of age will have to provide age proof to avail a bank rate of 8.75% p.a. on their deposit
      • 1% charges applicable in case of premature withdrawal
      • Minimum tenure is 7 days and maximum is 10 years
    5. KTDFC
    6. KTDFC is an NBFC that offers a high rate of return on 2-year time deposit schemes.

      • Attractive interest rate of 8.25% p.a. and 8.50% p.a for senior citizens
      • All investors need to put in at least Rs.10,000 to open an FD here
      • The funds will be locked in for a period of 1 year, which is a minimum tenure
      • 5 years is the maximum time period
    7. ESAF Small Finance Bank
    8. 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. 1 crore
      • The bank rate for regular FDs is 8.00% p.a.
      • Seniors citizens will be paid at the rate of 8.50% p.a.
      • Various benefits offered like loan/overdraft, etc
    9. Utkarsh Small Finance Bank
    10. This is another good option for parking funds for a 2-year period.

      • The rate of interest offered is 7.85% p.a.
      • For those above 60 years the interest rate applicable is 8.35% p.a.
      • If withdrawals are made before the maturity date it will attract a penalty
      • Rates are set for less than Rs.1 crore
    11. LIC Housing Finance Ltd
    12. LIC is another NBFC that offers a great rate of return and a number of other benefits.

      • For all time deposits the frequency of compounding is annual
      • The annual percentage gain from this type of investment will be 7.40% p.a.
      • For senior citizens the rate of interest paid is 7.50% p.a.
      • Nomination facility available
    13. IDFC Bank
    14. 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 7.25% p.a is provided
      • For those above 60 years 7.75% is paid each year
      • Reinvestment of interest can be made and interest is compounded on a quarterly basis
      • Interest is also paid on a monthly basis
    15. Repco Bank
    16. Repco Bank provides different investment options when it comes to fixed deposits.

      • An interest rate of 7.25% p.a is. offered on all term deposits for 2 years
      • All senior citizens will be eligible to get paid at the rate of 7.75% p.a. for the same time period
      • Repco Mahila scheme is a special term deposit offered for women
      • Premature facility available
    17. Lakshmi Vilas Bank (LVB)
    18. LVB is a good option to put money and earn a good rate of return in 2 years.

      • The bank offers 7.15% p.a. for regular account holders and 7.65% p.a for senior citizens
      • Premature withdrawals can be made provided a penalty is paid
      • Loan against FD can be availed
      • Other benefits such as nomination and overdraft available
    19. ICICI Bank
    20. Last but not the least, ICICI Bank is also a good option to choose for a 2-year investment.

      • A deposit rate of 6.80% p.a is paid on all regular FDs
      • Those above 60 years will be paid interest at the rate of 7.30% p.a.
      • One can choose from cumulative, non-cumulative, quarterly, monthly or short-term term deposits
      • TDS will be applicable

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