Fixed Deposit Interest Rates Comparison 2021

A contrast of all banks’ fixed deposit prices across all tenure suggests that currently, IDFC Bank gives the best FD charge of 7.50% for deposits with a tenure of two years to a few years for debtors under 60 years of age. For Senior Citizens FD, IDFC Bank has a satisfactory interest charge of 8.00% for a tenure of 366 Days to two Years.

Similarly, If you compare fixed deposit costs of small finance banks as in step with the state-of-the-art FD quotes, Jana Small Finance Bank gives the satisfactory FD charge of 7.75% for deposits with a tenure of three Years 1 Day to four Years 364 Days, hence making it a terrific preference for depositors seeking to earn high-interest charge without compromising at the safety of their deposits.

Bank FD Interest Rates Senior Citizen FD Interest Rates
SBI FD Interest Rates 2.90% – 5.40% 3.40% – 6.20%
HDFC Bank FD Interest Rates 2.50% – 5.50% 3.00% – 6.25%
ICICI Bank FD Interest Rates 2.50% – 5.50% 3.00% – 6.30%
ICICI Home Finance FD Interest Rates 4.30% – 6.45% 4.55% – 6.70%
Axis Bank FD Interest Rates 2.50% – 5.50% 2.50% – 6.05%
PNB Housing Finance 5.90% – 6.70% 6.15% – 6.95%
Kotak Bank 2.50% – 5.30% 3.00% – 5.80%
IDFC First Bank 2.75% – 6.00% 3.25% – 6.50%
Bank of Baroda 2.80% – 5.25% 3.30% – 5.75%
Citibank 2.40% – 3.50% 2.90% – 4.00%
IDBI Bank 2.90% – 5.10% 3.40% – 5.60%
Indian Bank 2.90% – 5.25% 3.40% – 5.75%
Indian Overseas Bank 3.40% – 5.20% 3.90% – 5.70%
OBC 3.00% – 5.30% 3.50% – 5.80%
PNB 3.00% – 5.30% 3.50% – 5.80%
HDFC 5.75% – 6.25% 6.00% – 6.50%
Allahabad Bank 2.90% – 5.25% 3.40% – 5.75%
Andhra Bank 3.00% – 5.60% 3.50% – 6.10%
Bank of India 3.25% – 5.30% 3.75% – 5.80%
Bank of Maharashtra 2.75% – 4.90% 2.75% – 5.40%
Canara Bank 2.95% – 5.50% 2.95% – 6.00%
Central Bank of India 2.75% – 5.10% 3.25% – 5.60%
Punjab and Sind Bank 3.10% – 5.25% 3.60% – 5.95%
UCO Bank 2.75% – 5.00% 3.00% – 5.50%
Union Bank of India 3.00% – 5.60% 3.50% – 6.10%
United Bank of India 3.00% – 5.30% 3.50% – 5.80%
Yes Bank 3.50% – 6.75% 4.00% – 7.50%
Karnataka Bank 3.40% – 5.70% 3.80% – 6.95%
DBS Bank 2.50% – 5.50% 2.50% – 5.50%
Standard Chartered Bank 2.50% – 5.40% 2.50% – 5.90%
Jammu And Kashmir Bank 3.00% – 5.30% 3.50% – 5.80%
Ujjivan Small Finance Bank 3.05% – 6.50% 3.55% – 7.00%
Jana Small Finance Bank 2.50% – 7.25% 3.00% – 7.75%
India Post Office 5.50% – 6.70% 5.50% – 6.70%
IndusInd Bank 3.00% – 6.50% 3.50% – 7.00%
Syndicate Bank 2.95% – 5.50% 2.95% – 6.00%
RBL Bank 3.25% – 6.60% 3.75% – 7.10%
Dhan Laxmi Bank 3.50% – 5.60% 4.00% – 6.10%
Bajaj Finance 6.15% – 7.00% 6.40% – 7.25%
HSBC Bank 2.25% – 4.00% 2.75% – 4.50%
Federal Bank 2.50% – 5.50% 3.00% – 6.00%
AU Small Finance Bank 3.50% – 6.50% 4.25% – 7.25%
LIC Housing Finance 5.50% – 5.60% 5.75% – 5.85%
Corporation Bank 3.00% – 5.60% 3.50% – 6.10%
DCB Bank 4.25% – 6.75% 4.75% – 7.25%
South Indian Bank 3.50% – 5.65% 4.00% – 6.15%
Bandhan Bank 3.00% – 6.00% 3.75% – 6.75%
Lakshmi Vilas Bank 2.50% – 6.00% 2.50% – 6.50%
Equitas Small Finance Bank 3.60% – 6.80% 4.10% – 7.30%
ESAF Small Finance Bank 4.50% – 6.50% 5.00% – 7.00%
Karur Vysya Bank 3.50% – 5.75% 3.50% – 6.15%

Highest FD Interest Rates

Amongst some of the benefits supplied with fixed deposits, guaranteed returns is the maximum sought after. However, the returns supplied on FD aren’t identical and time-honored throughout distinctive FD providers. Indeed, it varies throughout all. Thus, the best FD interest charges throughout all banks and NBFCs are a crucial element to appear before investing within the FD. One can put money into FDs with Banks or NBFCs, which have the best AAA scores, rated with the aid of using ICRA and CRISIL and get assured returns.

Currently, IDFC Bank gives the best constant deposit charge of 7.50% for a tenure of two years to three years. In addition to that, Jana Small Finance Bank gives the best returns on senior resident’s fixed deposits with a hobby charge of 7.75%.

Fixed Deposit Interest Rates for Senior Citizens

The highest FD charge for Senior Citizens is presently at 8.00% presented through IDFC Bank for 36 Months to 366 Days to two years. Banks FD Interest presented to senior residents is usually 25-75 basis points better than corresponding charges on normal FDs different individuals. Senior residents must post their age as evidence to be eligible for better charges on Senior Citizens FD.

  • The age of senior citizens needs to be 60 or greater at the date of investment.

  • Tenure on senior residents FD is between 7 days to ten years for a maximum of the banks.

  • Senior resident’s FDs earn 2.50% to 7.75% higher interest in comparison to normal deposit charges.

  • Loans in opposition to FDs are available on senior citizen FD.

  • Penalties are relevant in the untimely withdrawal of senior residents’ FDs as applicable to other normal accounts.

Factors that affect FD Rates

Fixed Deposits are a crucial supply of finances for banks that they lend to make profits. Bank FD interest costs vary through the quantity deposited, tenure of deposit, sort of depositor in addition to the quantity of investment required through banks from FDs. List of things that decide the interest costs on banks FD are:

  • Deposit Amount: Banks provide lower interest prices on bulk deposits greater than Rs 1 crore and excessive interest prices on much less than Rs 1 crore.

  • Deposit Tenure: Banks provide decreased prices of interest on deposits with a shorter tenure. Based on present-day costs, the very best price on FDs with a tenure of fewer than 12 months is 7.00% and maximum FD interest costs at the tenure of 10 years are 7.25%

  • Depositor Type: All banks in India provide better interest on senior resident’s FDs. Currently, the interest price on senior residents’ FDs tiers from 2.50% to 7.75 depends on the deposit quantity and deposit tenure.

  • Funding Requirement: Large banks like SBI and HDFC Bank that have extensive access to low fee financial savings generally account appearance to elevate decreased quantity from FDs and consequently provide decreased interest costs compared to new banks and small finance banks, which can be depending on time period deposits. Hence, small finance banks are quite new personal quarter banks to provide better interest prices on FDs opened with them continually.

Tax Savings Fixed Deposit Interest Rates

Tax Saving FD Minimum Deposit Tax Saving
SBI Tax Savings Scheme ₹ 1,000 5.40%
HDFC Bank 5 Year Tax Saving Fixed Deposit ₹ 100 5.50%
Axis Bank Tax Saver Fixed Deposit ₹ 100 5.50%
Kotak Bank Tax Saving Fixed Deposit ₹ 100 5.30%
ICICI Bank Tax Saving Fixed Deposit ₹ 10,000 5.50%
Citibank Tax Saver Deposits ₹ 1,000 3.50%
Bank of Baroda Tax Savings Term Deposit N.A 5.25%
Corporation Bank Tax Saver Plus Deposit Scheme ₹ 100 5.60%
PNB Tax Saver Fixed Deposit Scheme ₹ 100 5.30%
RBL Bank Tax Savings Fixed Deposits N.A 6.60%
Central Bank of India Tax Saving Deposit ₹ 100 5.10%
Syndicate Bank SyndTaxShield Deposit ₹ 100 5.50%
IDBI Bank Suvidha Tax Saving Fixed Deposit N.A 5.10%

 

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