Fixed deposits remain a popular and safest saving option for investors who prefer low-risk. FDs help your money grow at a fixed rate of return. The interest rate for FDs is based on the amount invested and the tenure it is invested. You can open an FD account for a minimum period of 7 days to a maximum period of 10 years. FD rates have been trending lower; however, a few banks have recently hiked the interest rates for a few tenures. Also, a few private and small finance banks are offering above-average FD returns. Investors may consider investing a portion of their funds in FDs of these banks after a thorough risk assessment. Take a look at the latest interest rates currently offered by some of India’s leading public sector, private sector and small finance banks. The table lists foreign banks too.
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| Bank FD interest rates (%) | |||||
| Bank | <1year | 1 to 2years | 2 to 3years | 3 to 5years | w.e.f |
| FOREIGN BANKS | |||||
| Citi Bank | 2.75 | 3 | 3.5 | 3.5 | Apr 13 |
| DBS Bank | 3.5 | 5.25 | 5.65 | 5.75 | Mar 25 |
| Deutsche Bank | 4.5 | 5 | 5.35 | 6.5 | Apr 06 |
| HSBC | 3.1 | 3.75 | 4 | 4 | Nov 26 |
| Scotia Bank | 2.2 | 2.4 | 2.55 | 2.55 | Apr 01 |
| Standard Chartered | 4.6 | 5.4 | 5.4 | 5.6 | Feb 19 |
| INDIAN: PUBLIC SECTOR BANKS | |||||
| Bank of Maharashtra | 4.25 | 4.9 | 4.9 | 4.9 | Jan 08 |
| Bank of Baroda | 4.4 | 5.2 | 5.2 | 5.35 | Mar 22 |
| Bank of India | 4.35 | 5.05 | 5.05 | 5.05 | Aug 01 |
| Canara Bank | 4.4 | 5.15 | 5.45 | 5.55 | Mar 01 |
| Central Bank of India | 4.25 | 5.1 | 5.1 | 5.15 | Feb 10 |
| Indian Bank | 4.4 | 5.1 | 5.2 | 5.25 | Apr 05 |
| Indian Overseas Bank | 4.9 | 5.2 | 5.45 | 5.45 | Mar 10 |
| Punjab National Bank | 4.4 | 5 | 5.1 | 5.25 | Aug 01 |
| Punjab & Sind Bank | 4.5 | 5.05 | 5.3 | 5.3 | Sep 16 |
| State Bank of India | 4.4 | 5.2 | 5.45 | 5.5 | Feb 15 |
| UCO Bank | 4.4 | 5.1 | 5.1 | 5.3 | Mar 11 |
| Union Bank | 4.4 | 5.1 | 5.3 | 5.5 | Apr 09 |
| INDIAN: PRIVATE SECTOR BANKS | |||||
| Axis Bank | 4.4 | 5.4 | 5.4 | 5.75 | Mar 21 |
| Bandhan Bank | 4.5 | 6.25 | 6.25 | 6.25 | Jan 12 |
| Catholic Syrian | 4.25 | 5 | 5.25 | 5.5 | Nov 02 |
| City Union Bank | 4.75 | 5.25 | 5 | 5 | Aug 01 |
| DCB Bank | 5.25 | 6.25 | 6.25 | 6.25 | Mar 07 |
| Dhanlaxmi Bank | 4.25 | 5.15 | 5.3 | 5.4 | Aug 01 |
| Federal Bank | 4.4 | 5.35 | 5.4 | 5.6 | Feb 22 |
| HDFC Bank | 4.4 | 5.1 | 5.2 | 5.45 | Apr 06 |
| ICICI Bank | 4.4 | 5 | 5.2 | 5.45 | Jan 20 |
| IDBI Bank | 4.3 | 5.15 | 5.4 | 5.5 | Feb 14 |
| IDFC First Bank | 4.75 | 5.75 | 6 | 6.25 | Jan 21 |
| IndusInd Bank | 5.5 | 6.5 | 6.5 | 6.5 | Feb 16 |
| J & K Bank | 4.5 | 5.2 | 5.3 | 5.3 | Feb 11 |
| Karnataka Bank | 5 | 5.1 | 5.4 | 5.4 | Apr 01 |
| Kotak Bank | 4.75 | 5.3 | 5.45 | 5.6 | Apr 12 |
| Karur Vysya Bank | 4.5 | 5.5 | 5.65 | 5.9 | Feb 18 |
| RBL Bank | 5.25 | 6.5 | 6.5 | 6.3 | Feb 03 |
| South Indian Bank | 4.5 | 4.9 | 5.5 | 5.65 | Jan 20 |
| Tamilnad Mercantile Bank | 5 | 5.35 | 5.35 | 5 | Nov 18 |
| TNSC Bank | 5.75 | 6 | 5.85 | 6 | Dec 09 |
| Yes Bank | 5 | 6 | 6.25 | 6.25 | Jan 04 |
| SMALL FINANCE BANKS | |||||
| AU Small Finance Bank | 5.25 | 6.5 | 6.75 | 6.75 | Feb 23 |
| Equitas Small Finance Bank | 5 | 6.5 | 6.75 | 6 | Mar 21 |
| Fincare Small Finance Bank | 5.15 | 6 | 6.5 | 6.75 | Mar 21 |
| Jana Small Finance Bank | 5.5 | 6.5 | 6.75 | 6.75 | Apr 12 |
| Suryoday Small Finance Bank | 5.75 | 6.5 | 7 | 6.75 | Mar 10 |
| Ujjivan Small Finance Bank | 4.75 | 6.6 | 6.75 | 6.25 | Dec 31 |
Disclaimer: Data taken from respective bank websites on Apr 15, 2022. All rates for normal FDs amounting to less than Rs.1 crore.
Data compiled by BankBazaar.com – India’s largest fintech co-brand credit card issuer.
