[adrotate banner=”29″]
In India, the FD is one of the most popular and low-risk financial instruments. Investment in FDs gives you an assured return with utmost safety. In this post, I have listed the Best Fixed Deposit Interest Rates offered by banks. These banks are best bank for FD.
[adrotate banner=”23″]
Table of Contents
What is a Fixed Deposit?
A fixed deposit is an investment avenue in which there is a fixed rate of interest for a fixed tenure. At maturity, you receive the principal amount you have invested along with the interest earned.
In fixed deposits, a particular sum of money is invested for a fixed duration. The duration of FDs is flexible and can range from 7 days to 10 years.
FDs are also known as term deposits because they are kept up to a particular period or term. Here are the highest rate of interest on FD in India for the year.
[adrotate banner=”21″]
Best Fixed Deposit Interest Rates
You get guaranteed returns when you invest in bank FDs. The returns on FDs are calculated at a fixed rate of interest. This rate of interest is known as the FD interest rate.
The rate of interest is fixed and remains the same throughout the term of the deposit. Thus, investing in FDs can help you get assured returns without any effect of market fluctuations.
Let’s discuss in which bank fixed deposit is best.
Best Fixed Deposit Rates in India
The interest rate offered on FDs are not the same across different banks. Therefore, the interest rate across all banks is an important factor to be considered before investing in the FD. The FD rates comparison is given below.
Highest FD Rates in Bank (Tenure 1 Year)
Given below are the best rate for 1-year tenure for deposits less than Rs.2 crore.
| Name of the Bank | Highest Rate for General Citizens (% p.a.) | Highest Fixed Deposit Rates for Senior Citizens (% p.a.) |
| Yes Bank | 7 | 7.5 |
| IndusInd Bank | 7 | 7.5 |
| RBL Bank | 6.85 | 7.35 |
| DCB Bank | 6.5 | 7 |
| IDFC First Bank | 5.75 | 6.25 |
Note: These are the Best FD Interest Rates as of 17 October 2020. The interest rate mentioned in the above table are subject to change.
[adrotate banner=”24″]
Best FD Rates Bank (Tenure 2 Years)
Given below are the highest rate for 2 years tenure for deposits less than Rs.2 crore.
| Name of the Bank | Highest Rates for General Citizens (% p.a.) | Highest Rates for Senior Citizens (% p.a.) |
| Yes Bank | 7 | 7.75 |
| IndusInd Bank | 7 | 7.5 |
| RBL Bank | 6.85 | 7.35 |
| DCB Bank | 6.8 | 7.3 |
| IDFC First Bank | 5.75 | 6.25 |
Note: These are the best rates as of 17 October 2020. The interest rate mentioned in the above table are subject to change.
Highest FD Interest Rate Bank (Tenure 3 Years)
Given below are the highest rate of interest on FD for 3 years tenure for deposits less than Rs.2 crore.
| Name of the Bank | Highest FD Interest Rates for General Citizens (% p.a.) | Highest FD Interest Rates for Senior Citizens (% p.a.) |
| Yes Bank | 6.5 | 7 |
| IndusInd Bank | 6.75 | 7.25 |
| RBL Bank | 7.15 | 7.65 |
| DCB Bank | 6.95 | 7.45 |
| IDFC First Bank | 5.75 | 6.25 |
Note: These are the best rate as of 17 October 2020. The interest rate mentioned in the above table are subject to change.
[adrotate banner=”25″]
Highest Rate of Interest on FD in Bank (Tenure 5 Years)
Given below are the highest rate for 5 years tenure for deposits less than Rs.2 crore.
| Name of the Bank | Best FD Rates for General Citizens (% p.a.) | Highest Rates for Senior Citizens (% p.a.) |
| Yes Bank | 6.5 | 7 |
| IndusInd Bank | 6.75 | 7.25 |
| RBL Bank | 6.5 | 7 |
| DCB Bank | 6.95 | 7.45 |
| IDFC First Bank | 5.75 | 6.25 |
Note: These are the Best Bank for FD as of 17 October 2020. The interest rates mentioned in the above table are subject to change.
[adrotate banner=”23″]
Final Thoughts
I hope now you know the highest fixed deposit interest rates in the bank in India. The best FD interest rates mentioned in the above tables will help you to figure out in which bank fixed deposit is best as per your needs.
Also Read: 10 Ways to Earn Money Online in India in 2020
Also Read: CashKaro: India’s Largest Cashback and Coupons Site for Shoppers
[adrotate banner=”30″]
[adrotate banner=”31″]