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Top Fixed Deposit (FD) Interest Rates June 2021

The post lists down the rate of Fixed Deposit Interest Rates as of June 1, 2021. You might want to bookmark this page as the FD interest rates would be updated every month.


Fixed Deposit 

  1. Most banks offer FDs for tenure of 7 Days to 10 Years.
  2. The Ratnakar Bank & IDBI Bank do offer fixed deposits up to 20 years too.
  3. For very short Term Deposits the interest rate is similar to that of Savings Account and so you should not worry about FD. Also Interest up to Rs 10,000 in Saving Account is Tax free.
  4. Most banks compound interest quarterly
  5. Most New Small Finance Banks offer higher interest rate across tenures.
  6. Banks offer Loan/Overdraft against the amount available in Fixed Deposit. The interest is generally 0.5% to 1% more than that offered to FD.
  7. TDS (Tax deduction at source) at the rate of 10% is deducted, if the interest income is more than Rs 40,000 in financial year per bank (changed from Rs 10,000 limit in Budget 2019)
  8. In case of Senior citizens TDS would be deducted at the rate of 10%, if the interest income exceeds Rs 50,000
  9. In case the PAN number is not updated with the bank, the TDS rate is 20%
  10. There might be penalty for pre-mature withdrawal of Fixed Deposits

Top Fixed Deposit Interest Rates

The highest interest rate on fixed deposit is offered by Suryoday Small Finance Bank (5 Years) at 7.25%.

In traditional banks Yes Bank is offering 6.75% for 5 Years to <= 10 years tenure.

For comparing the best interest rates on fixed deposits over different duration of investment, we have it divided into following 5 slabs:

  • FD for Less than 1 Year
  • FD for 1 to 2 years
  • FD for 2 to 5 Years
  • FD for 5 to 10 years
  • FD for More than 10 years

We show the highest interest rates on fixed deposits for the above duration buckets. We have also compared the best interest rates on offer by that being offered by State Bank of India (SBI), ICICI Bank and Post Offices.

Best Fixed Deposit Interest Rates for Less than 1 Year

  • The highest interest rate is offered by Suryoday Small Finance Bank (Above 9 months to less than 1 Year) at 6.25%
  • In traditional banks Indus Ind Bank offers 5.75% for 270 days to below 1 year tenure
BankType of BankDescriptionInterest Rate
Suryoday Small Finance BankSmall BankAbove 9 months to less than 1 Year6.25%
ESAF Small Finance BankSmall Bank183 days to 727 days6.00%
Suryoday Small Finance BankSmall BankAbove 6 months to 9 months6.00%
Utkarsh Small Finance BankSmall Bank181 Days to 364 Days6.00%
Indus Ind BankPrivate270 days to below 1 year5.75%
DCB BankPrivate6 months to less than 12 months5.70%
ESAF Small Finance BankSmall Bank91 days to 181 days5.50%
Jana Small Finance BankSmall Bank181-364 days5.50%
Yes BankPrivate9 months to < 1 Year5.50%
Indus Ind BankPrivate211 days to 269 days5.50%
Ratnakar BankPrivate241 days to 364 days5.50%
DCB BankPrivate91 days to less than 6 months5.25%
Yes BankPrivate6 months to < 9 months5.25%
Equitas Small Finance Banksmall Bank181 – 364 days5.25%
AU Small Finance BankSmall Bank6 Months 1 Day to 12 Months5.25%
Capital Small Finance BankSmall Bank180 Days to less than 1 Year5.25%
Bandhan BankPrivate6 months to less than 1 year5.25%
IDFC First BankPrivate181 days – less than 1 year5.25%
Indus Ind BankPrivate181 days to 210 days5.25%
Tamilnad Mercantile BankPrivate180 dys to less than 1 Year5.25%
Ratnakar BankPrivate181 days to 240 days5.25%
Ujjivan Small Finance BankSmall Bank180 Days to 364 Days5.20%
Axis BankPrivate11 months 25 days < 1 year 5 days5.15%
Nainital BankPrivate270 days and above but less than 1 year5.15%
Karnataka BankPrivate91 days to 364 days5.10%
Nainital BankPrivate180 days and above but less than 270 days5.05%
North East Small Finance BankSmall Bank181-365 Days5.00%
City Union BankPrivate271 days to 364 days5.00%
Ratnakar BankPrivate91 days to 180 days4.75%
Yes BankPrivate3 months to < 6 months4.75%
Capital Small Finance BankSmall Bank90 Days to 179 Days4.75%
State Bank of IndiaGovernmentGovernment Bank Benchmark2.90% – 4.40%
ICICI BankPrivatePrivate Bank Benchmark2.50% – 4.40%

 

Best Fixed Deposit Interest Rates for 1 – 2 Years

  • The highest interest rate is offered by Utkarsh Small Finance Bank (700 Days) at 7.00%
  • In traditional banks Indus Ind Bank offers 6.50% for 1 year to below 61 month tenure
BankType of BankDescriptionInterest Rate
Utkarsh Small Finance BankSmall Bank700 Days7.00%
Suryoday Small Finance BankSmall Bank1 Year to 2 years6.75%
Utkarsh Small Finance BankSmall Bank365 Days to 3652 Days6.75%
North East Small Finance BankSmall Bank366 days to 1095 days6.75%
Jana Small Finance BankSmall Bank> 1 Year – 3 Years6.50%
Ujjivan Small Finance BankSmall Bank1 Year to 2 Years6.50%
Indus Ind BankPrivate1 year to below 61 month6.50%
DCB BankPrivate700 days6.40%
AU Small Finance BankSmall Bank12 Months 1 Day to 15 Months6.35%
Equitas Small Finance Banksmall Bank1 year to 18 months6.35%
Jana Small Finance BankSmall Bank1 Year[365 Days]6.25%
ESAF Small Finance BankSmall Bank183 days to 727 days6.25%
Equitas Small Finance Banksmall Bank18 months 1 day to 2 years6.25%
AU Small Finance BankSmall Bank15 Months 1 Day to 24 Months6.25%
Capital Small Finance BankSmall Bank400 Days6.25%
Ratnakar BankPrivate12 months to less than 36 months6.10%
DCB BankPrivate18 months to less than 36 months6.00%
DCB BankPrivate15 months to less than 18 months6.00%
Yes BankPrivate1 years < 2 years6.00%
Capital Small Finance BankSmall Bank1 Year to less than 10 Years6.00%
DCB BankPrivate12 months to less than 15 months5.80%
Bandhan BankPrivate1 year to less than 3 years5.75%
Tamilnad Mercantile BankPrivate1 Year to less than 2 years5.75%
Tamilnad Mercantile BankPrivate2 Years to less than 3 Years5.65%
IDFC First BankPrivate1 Year – 2 years5.50%
City Union BankPrivate365 days to 550 days5.50%
Federal BankPrivate16 Months5.50%
Karur Vysya BankPrivate1 year to less than 3 years5.50%
South Indian BankPrivate1 year to less than 3 years5.40%
Standard Charted BankForeign18M < 21M5.40%
Nainital BankPrivateAbove 18 months but less than or equal to 10 years5.35%
Dhanalakshmi BankPrivate640 days5.30%
Standard Charted BankForeign1yr – 375days5.30%
Union Bank of IndiaGovernment>1 Year to 2 Years5.30%
Axis BankPrivate18 Months < 2 years5.25%
Dhanalakshmi BankPrivate1 Year and above upto & inclusive of 2 years5.25%
Indian Overseas BankGovernment444 days5.25%
Indian Overseas BankGovernment2 yrs and above5.25%
Nainital BankPrivate1 year and above but less than or equal to 18 months5.25%
Punjab and Sind BankGovernment1 Year – 10 Years5.25%
Standard Charted BankForeign21M < 2 Yrs5.25%
Union Bank of IndiaGovernment1 Year5.25%
Karnataka BankPrivate1 year to 2 Years5.20%
Canara BankGovernment1 year to less than 2 years5.20%
Standard Charted BankForeign376 days < 18 Months5.20%
Axis BankPrivate11 months 25 days < 1 year 5 days5.15%
State Bank of IndiaGovernmentGovernment Bank Benchmark5.00% – 5.10%
ICICI BankPrivatePrivate Bank Benchmark4.90% – 5.00%
Post Office FD (1 year)Post OfficePost Office5.50%
Post Office FD (2 years)Post OfficePost Office5.50%

Summary of Fixed Deposit Interest Rates across Banks

Earlier we used to provide only the top Fixed Deposit Rates but with several request from readers we have added a summary of FD rates for all banks.


BankType of Bank1 Year2 Years3 Years4 Years5 years5+ Years
AU Small Finance BankSmall Bank6.35%6.25%6.50%6.25%6.25%6.50%
Axis BankPrivate5.15%5.25%5.40%5.40%5.75%5.75%
Bandhan BankPrivate5.75%5.75%5.50%5.50%5.50%5.50%
Bank of BarodaGovernment4.90%5.00%5.10%5.25%5.25%5.25%
Bank of IndiaGovernment5.25%5.30%5.30%5.30%5.30%5.30%
Bank of MaharashtraGovernment4.90%4.90%4.90%4.90%4.90%4.90%
Canara BankGovernment5.20%5.40%5.50%5.50%5.50%5.50%
Capital Small Finance BankSmall Bank6.00%6.00%6.00%6.00%6.00%6.00%
Catholic Syrian BankPrivate5.00%5.00%5.00%5.25%5.25%5.75%
Central Bank of IndiaGovernment4.90%5.00%5.00%5.00%5.10%5.10%
CitibankForeign2.75%3.00%3.50%3.50%3.50%x
City Union BankPrivate5.00%5.50%5.50%5.50%5.50%5.25%
DCB BankPrivate5.80%6.00%6.50%6.50%6.50%6.50%
Deutsche BankForeign4.00%4.25%4.50%5.00%6.25%x
Dhanalakshmi BankPrivate5.25%5.40%5.40%5.50%5.50%5.60%
Digibank by DBSForeign4.25%4.50%5.50%5.50%5.50%5.50%
Equitas Small Finance BankSmall Bank6.35%6.50%6.25%6.25%6.25%6.50%
ESAF Small Finance BankSmall Bank6.50%6.00%6.00%5.75%5.75%5.25%
Federal BankPrivate5.10%5.50%5.35%5.35%5.50%5.50%
Fincare Small Finance BankSmall Bankxxxxxx
HDFC BankPrivate4.90%4.90%5.15%5.30%5.30%5.50%
ICICI BankPrivate4.90%5.00%5.15%5.35%5.35%5.50%
IDBI BankPrivate4.90%5.00%5.25%5.25%5.25%5.25%
IDFC First BankPrivate5.75%5.75%6.00%6.00%6.00%5.75%
Indian BankGovernment5.00%5.10%5.25%5.25%5.25%5.15%
Indian Overseas BankGovernment5.20%5.25%5.25%5.25%5.25%5.25%
Indus Ind BankPrivate6.50%6.50%6.50%6.50%6.50%6.25%
J&K BankGovernment5.10%5.20%5.30%5.30%5.30%5.30%
Jana Small Finance BankSmall Bank6.25%6.50%6.50%6.75%6.75%6.00%
Karnataka BankPrivate5.20%5.50%5.50%5.50%5.50%5.60%
Karur Vysya BankPrivate5.50%5.50%5.65%5.65%5.75%5.75%
Kotak Mahindra BankPrivate4.50%5.00%5.10%5.25%5.30%5.30%
Nainital BankPrivate5.25%5.35%5.35%5.35%5.35%5.35%
North East Small Finance BankSmall Bank6.75%6.75%6.75%6.50%6.50%6.25%
Post Office Time DepositPost Office5.50%5.50%5.50%x6.70%x
Punjab and Sind BankGovernment5.15%5.15%5.30%5.30%5.30%5.30%
Punjab National BankGovernment5.10%5.10%5.25%5.25%5.25%5.25%
Ratnakar BankPrivate6.10%6.10%6.30%6.30%6.30%6.00%
South Indian BankPrivate5.40%5.40%5.50%5.50%5.65%5.50%
Standard Charted BankForeign5.30%5.40%5.35%5.35%5.35%x
State Bank of IndiaGovernment4.40%5.10%5.30%5.30%5.30%5.40%
Suryoday Small Finance BankSmall Bank6.75%7.00%7.10%7.10%7.25%6.50%
Tamilnad Mercantile BankPrivate5.75%5.75%5.65%5.50%5.50%5.50%
UCO BankGovernment4.90%5.00%5.00%5.00%5.00%5.00%
Ujjivan Small Finance BankSmall Bank6.50%6.75%6.75%6.75%6.75%5.80%
Union Bank of IndiaGovernment5.30%5.30%5.50%5.55%5.55%5.60%
Utkarsh Small Finance BankSmall Bank6.75%6.75%6.75%6.75%6.75%6.75%
Yes BankPrivate6.00%6.25%6.50%6.50%6.75%6.75%
Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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