In this article you will find the interest rates provided on the fixed deposit facility provide by major banks in India.

These interest rates are as on last updated by the banks o their respective websites.

Fixed Deposits (FD’s) enable investors to earn higher interest on their extra funds. Interest rate on fixed deposits is guaranteed for the duration of the deposit.

Interest rates on FD’s are fixed when you open the deposit and the rate depends on the tenure that you wish to hold it for. The rate of interest may vary as per amount, period and from bank to bank.

Below you can find the interest rates on fixed deposits for various tenures provided by major banks in India:-

  • For tenure less than 1 year:
Bank Name7 days to 14 days15 days to 29 days30 days to 45 days46 days to 60 days61 days to 90 days91 days to 6 months6 months to 9 month9 months to less than 1 year
HDFC Bank3.50%4.25%5.75%6.25%6.25%6.25%6.75%7.00%
ICICI Bank4.00%4.25%5.50%5.75%6.00%6.00%6.00%6.50%
Axis Bank3.50%3.50%3.50%6.00%6.00%6.00%6.25%6.50%
Kotak Mahindra Bank3.50%4.00%5.00%5.50%5.50%6.00%6.75%7.00%
IndusInd Bank3.50%4.00%5.50%5.75%6.00%6.25%6.75%7.00%
Yes Bank5.00%5.00%5.00%7.00%7.00%6.90%6.70%6.70%
IDFC Bank4.00%5.00%6.25%6.50%6.50%6.75%7.00%7.00%
Federal Bank3.50%4.50%5.00%5.00%5.70%6.00%6.50%6.50%
RBL5.00%6.00%6.00%7.00%7.00%7.15%7.15%7.25%
State Bank of India5.75%5.75%5.75%6.25%6.25%6.25%6.35%6.40%
Punjab National Bank5.70%5.70%5.70%6.35%6.35%6.35%6.35%6.35%
Bank of Baroda4.25%4.75%4.75%5.00%5.00%5.50%6.25%6.35%
Canara Bank5.75%5.75%5.75%6.25%6.25%6.25%6.35%6.40%
Union Bank of India5.00%5.00%5.00%5.50%5.50%6.25%6.50%6.75%
IDBI Bank5.75%5.75%5.75%6.25%6.25%6.25%6.50%6.50%
Bank of India5.25%5.25%5.25%5.75%5.75%6.00%6.25%6.25%
Central Bank Of India4.75%5.50%5.50%5.50%5.50%6.75%6.50%6.50%
Indian Overseas Bank4.50%4.50%4.50%4.60%4.60%5.50%5.75%6.25%
Citibank3.00%3.25%4.50%4.75%4.75%6.00%6.25%6.25%
Syndicate Bank4.75%4.75%5.00%5.50%6.00%6.00%6.35%6.35%
Bank of Maharashtra4.25%4.25%4.25%5.25%5.25%6.00%6.00%6.00%
Bandhan Bank3.50%4.00%4.00%4.00%4.00%4.50%6.80%6.80%
DBS Bank4.25%4.25%4.50%5.00%5.50%5.75%6.00%6.10%
  • For tenure from 1 year up to 10 years:
Bank Name1 Year1 year to 2 years2 years to 3 years3 years to 5 years5 years to 8 years8 years to 10 years
HDFC Bank7.25%7.25%7.10%7.10%6.00%6.00%
ICICI Bank6.75%7.00%7.25%7.25%7.00%7.00%
Axis Bank7.10%7.00%7.00%7.00%7.00%7.00%
Kotak Mahindra Bank7.00%7.25%7.10%7.00%6.50%6.50%
IndusInd Bank7.65%7.40%7.25%7.00%6.75%6.75%
Yes Bank7.10%7.10%7.10%7.10%7.10%7.10%
IDFC Bank7.50%7.50%8.00%8.25%8.25%8.25%
Federal Bank6.85%7.30%7.00%7.00%7.00%7.00%
RBL7.75%7.75%7.50%7.50%7.25%7.25%
State Bank of India6.65%6.65%6.65%6.70%6.75%6.75%
Punjab National Bank6.75%6.75%6.75%6.25%6.25%6.25%
Bank of Baroda6.60%6.70%6.60%6.70%6.60%6.60%
Canara Bank6.70%7.00%6.70%6.20%6.20%6.20%
Union Bank of India6.70%6.70%6.70%6.75%6.75%6.75%
IDBI Bank6.75%6.70%6.70%6.70%6.00%6.00%
Bank of India6.65%6.65%6.70%6.40%6.35%6.35%
Central Bank Of India6.60%6.60%6.50%6.50%6.50%6.50%
Indian Overseas Bank6.60%6.60%6.75%6.80%6.80%6.80%
Citibank6.25%7.00%6.00%6.00%6.00%6.00%
Syndicate Bank6.70%6.75%6.60%6.60%6.50%6.50%
Bank of Maharashtra6.50%6.50%6.60%6.50%6.50%6.50%
Bandhan Bank7.00%7.30%7.40%7.40%6.40%6.40%
DBS Bank7.00%7.00%7.50%7.00%7.50%7.50%

 Note:-

  • Senior citizens attract an additional 0.50% on their FD interest rates. All most all the bank provide additional 0.50%.
  • A few banks such as RBL bank and IDBI bank provide FD’s with a tenure of 20 years.
  • The above tenures are not common to all the banks. The tenures have been standardized for a neat presentation of interest rates. Some banks may have different tenures and may be presented in a different manner. Some may also have some extra tenures.
  • The above interest rates are for deposits less than Rs. 1 crore and in some cases less than Rs. 5 crores. (as specified by the bank on their website)

Summary:-

  • For tenure less than 1 year Yes bank, RBL bank, State Bank of India, Punjab National Bank and IDBI bank offer higher and competitive interest rates.
  • For tenure from 1 year up to 10 years HDFC bank, IndusInd bank, IDFC bank, RBL bank, Bandhan bank and DBS bank are among the highest interest rates offering banks.