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
- Most banks offer FDs for tenure of 7 Days to 10 Years.
- The Ratnakar Bank & IDBI Bank do offer fixed deposits up to 20 years too.
- 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.
- Most banks compound interest quarterly
- Most New Small Finance Banks offer higher interest rate across tenures.
- 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.
- 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)
- In case of Senior citizens TDS would be deducted at the rate of 10%, if the interest income exceeds Rs 50,000
- In case the PAN number is not updated with the bank, the TDS rate is 20%
- 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
| Bank | Type of Bank | Description | Interest Rate |
|---|---|---|---|
| Suryoday Small Finance Bank | Small Bank | Above 9 months to less than 1 Year | 6.25% |
| ESAF Small Finance Bank | Small Bank | 183 days to 727 days | 6.00% |
| Suryoday Small Finance Bank | Small Bank | Above 6 months to 9 months | 6.00% |
| Utkarsh Small Finance Bank | Small Bank | 181 Days to 364 Days | 6.00% |
| Indus Ind Bank | Private | 270 days to below 1 year | 5.75% |
| DCB Bank | Private | 6 months to less than 12 months | 5.70% |
| ESAF Small Finance Bank | Small Bank | 91 days to 181 days | 5.50% |
| Jana Small Finance Bank | Small Bank | 181-364 days | 5.50% |
| Yes Bank | Private | 9 months to < 1 Year | 5.50% |
| Indus Ind Bank | Private | 211 days to 269 days | 5.50% |
| Ratnakar Bank | Private | 241 days to 364 days | 5.50% |
| DCB Bank | Private | 91 days to less than 6 months | 5.25% |
| Yes Bank | Private | 6 months to < 9 months | 5.25% |
| Equitas Small Finance Bank | small Bank | 181 – 364 days | 5.25% |
| AU Small Finance Bank | Small Bank | 6 Months 1 Day to 12 Months | 5.25% |
| Capital Small Finance Bank | Small Bank | 180 Days to less than 1 Year | 5.25% |
| Bandhan Bank | Private | 6 months to less than 1 year | 5.25% |
| IDFC First Bank | Private | 181 days – less than 1 year | 5.25% |
| Indus Ind Bank | Private | 181 days to 210 days | 5.25% |
| Tamilnad Mercantile Bank | Private | 180 dys to less than 1 Year | 5.25% |
| Ratnakar Bank | Private | 181 days to 240 days | 5.25% |
| Ujjivan Small Finance Bank | Small Bank | 180 Days to 364 Days | 5.20% |
| Axis Bank | Private | 11 months 25 days < 1 year 5 days | 5.15% |
| Nainital Bank | Private | 270 days and above but less than 1 year | 5.15% |
| Karnataka Bank | Private | 91 days to 364 days | 5.10% |
| Nainital Bank | Private | 180 days and above but less than 270 days | 5.05% |
| North East Small Finance Bank | Small Bank | 181-365 Days | 5.00% |
| City Union Bank | Private | 271 days to 364 days | 5.00% |
| Ratnakar Bank | Private | 91 days to 180 days | 4.75% |
| Yes Bank | Private | 3 months to < 6 months | 4.75% |
| Capital Small Finance Bank | Small Bank | 90 Days to 179 Days | 4.75% |
| State Bank of India | Government | Government Bank Benchmark | 2.90% – 4.40% |
| ICICI Bank | Private | Private Bank Benchmark | 2.50% – 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
| Bank | Type of Bank | Description | Interest Rate |
|---|---|---|---|
| Utkarsh Small Finance Bank | Small Bank | 700 Days | 7.00% |
| Suryoday Small Finance Bank | Small Bank | 1 Year to 2 years | 6.75% |
| Utkarsh Small Finance Bank | Small Bank | 365 Days to 3652 Days | 6.75% |
| North East Small Finance Bank | Small Bank | 366 days to 1095 days | 6.75% |
| Jana Small Finance Bank | Small Bank | > 1 Year – 3 Years | 6.50% |
| Ujjivan Small Finance Bank | Small Bank | 1 Year to 2 Years | 6.50% |
| Indus Ind Bank | Private | 1 year to below 61 month | 6.50% |
| DCB Bank | Private | 700 days | 6.40% |
| AU Small Finance Bank | Small Bank | 12 Months 1 Day to 15 Months | 6.35% |
| Equitas Small Finance Bank | small Bank | 1 year to 18 months | 6.35% |
| Jana Small Finance Bank | Small Bank | 1 Year[365 Days] | 6.25% |
| ESAF Small Finance Bank | Small Bank | 183 days to 727 days | 6.25% |
| Equitas Small Finance Bank | small Bank | 18 months 1 day to 2 years | 6.25% |
| AU Small Finance Bank | Small Bank | 15 Months 1 Day to 24 Months | 6.25% |
| Capital Small Finance Bank | Small Bank | 400 Days | 6.25% |
| Ratnakar Bank | Private | 12 months to less than 36 months | 6.10% |
| DCB Bank | Private | 18 months to less than 36 months | 6.00% |
| DCB Bank | Private | 15 months to less than 18 months | 6.00% |
| Yes Bank | Private | 1 years < 2 years | 6.00% |
| Capital Small Finance Bank | Small Bank | 1 Year to less than 10 Years | 6.00% |
| DCB Bank | Private | 12 months to less than 15 months | 5.80% |
| Bandhan Bank | Private | 1 year to less than 3 years | 5.75% |
| Tamilnad Mercantile Bank | Private | 1 Year to less than 2 years | 5.75% |
| Tamilnad Mercantile Bank | Private | 2 Years to less than 3 Years | 5.65% |
| IDFC First Bank | Private | 1 Year – 2 years | 5.50% |
| City Union Bank | Private | 365 days to 550 days | 5.50% |
| Federal Bank | Private | 16 Months | 5.50% |
| Karur Vysya Bank | Private | 1 year to less than 3 years | 5.50% |
| South Indian Bank | Private | 1 year to less than 3 years | 5.40% |
| Standard Charted Bank | Foreign | 18M < 21M | 5.40% |
| Nainital Bank | Private | Above 18 months but less than or equal to 10 years | 5.35% |
| Dhanalakshmi Bank | Private | 640 days | 5.30% |
| Standard Charted Bank | Foreign | 1yr – 375days | 5.30% |
| Union Bank of India | Government | >1 Year to 2 Years | 5.30% |
| Axis Bank | Private | 18 Months < 2 years | 5.25% |
| Dhanalakshmi Bank | Private | 1 Year and above upto & inclusive of 2 years | 5.25% |
| Indian Overseas Bank | Government | 444 days | 5.25% |
| Indian Overseas Bank | Government | 2 yrs and above | 5.25% |
| Nainital Bank | Private | 1 year and above but less than or equal to 18 months | 5.25% |
| Punjab and Sind Bank | Government | 1 Year – 10 Years | 5.25% |
| Standard Charted Bank | Foreign | 21M < 2 Yrs | 5.25% |
| Union Bank of India | Government | 1 Year | 5.25% |
| Karnataka Bank | Private | 1 year to 2 Years | 5.20% |
| Canara Bank | Government | 1 year to less than 2 years | 5.20% |
| Standard Charted Bank | Foreign | 376 days < 18 Months | 5.20% |
| Axis Bank | Private | 11 months 25 days < 1 year 5 days | 5.15% |
| State Bank of India | Government | Government Bank Benchmark | 5.00% – 5.10% |
| ICICI Bank | Private | Private Bank Benchmark | 4.90% – 5.00% |
| Post Office FD (1 year) | Post Office | Post Office | 5.50% |
| Post Office FD (2 years) | Post Office | Post Office | 5.50% |
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.
| Bank | Type of Bank | 1 Year | 2 Years | 3 Years | 4 Years | 5 years | 5+ Years |
|---|---|---|---|---|---|---|---|
| AU Small Finance Bank | Small Bank | 6.35% | 6.25% | 6.50% | 6.25% | 6.25% | 6.50% |
| Axis Bank | Private | 5.15% | 5.25% | 5.40% | 5.40% | 5.75% | 5.75% |
| Bandhan Bank | Private | 5.75% | 5.75% | 5.50% | 5.50% | 5.50% | 5.50% |
| Bank of Baroda | Government | 4.90% | 5.00% | 5.10% | 5.25% | 5.25% | 5.25% |
| Bank of India | Government | 5.25% | 5.30% | 5.30% | 5.30% | 5.30% | 5.30% |
| Bank of Maharashtra | Government | 4.90% | 4.90% | 4.90% | 4.90% | 4.90% | 4.90% |
| Canara Bank | Government | 5.20% | 5.40% | 5.50% | 5.50% | 5.50% | 5.50% |
| Capital Small Finance Bank | Small Bank | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
| Catholic Syrian Bank | Private | 5.00% | 5.00% | 5.00% | 5.25% | 5.25% | 5.75% |
| Central Bank of India | Government | 4.90% | 5.00% | 5.00% | 5.00% | 5.10% | 5.10% |
| Citibank | Foreign | 2.75% | 3.00% | 3.50% | 3.50% | 3.50% | x |
| City Union Bank | Private | 5.00% | 5.50% | 5.50% | 5.50% | 5.50% | 5.25% |
| DCB Bank | Private | 5.80% | 6.00% | 6.50% | 6.50% | 6.50% | 6.50% |
| Deutsche Bank | Foreign | 4.00% | 4.25% | 4.50% | 5.00% | 6.25% | x |
| Dhanalakshmi Bank | Private | 5.25% | 5.40% | 5.40% | 5.50% | 5.50% | 5.60% |
| Digibank by DBS | Foreign | 4.25% | 4.50% | 5.50% | 5.50% | 5.50% | 5.50% |
| Equitas Small Finance Bank | Small Bank | 6.35% | 6.50% | 6.25% | 6.25% | 6.25% | 6.50% |
| ESAF Small Finance Bank | Small Bank | 6.50% | 6.00% | 6.00% | 5.75% | 5.75% | 5.25% |
| Federal Bank | Private | 5.10% | 5.50% | 5.35% | 5.35% | 5.50% | 5.50% |
| Fincare Small Finance Bank | Small Bank | x | x | x | x | x | x |
| HDFC Bank | Private | 4.90% | 4.90% | 5.15% | 5.30% | 5.30% | 5.50% |
| ICICI Bank | Private | 4.90% | 5.00% | 5.15% | 5.35% | 5.35% | 5.50% |
| IDBI Bank | Private | 4.90% | 5.00% | 5.25% | 5.25% | 5.25% | 5.25% |
| IDFC First Bank | Private | 5.75% | 5.75% | 6.00% | 6.00% | 6.00% | 5.75% |
| Indian Bank | Government | 5.00% | 5.10% | 5.25% | 5.25% | 5.25% | 5.15% |
| Indian Overseas Bank | Government | 5.20% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% |
| Indus Ind Bank | Private | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.25% |
| J&K Bank | Government | 5.10% | 5.20% | 5.30% | 5.30% | 5.30% | 5.30% |
| Jana Small Finance Bank | Small Bank | 6.25% | 6.50% | 6.50% | 6.75% | 6.75% | 6.00% |
| Karnataka Bank | Private | 5.20% | 5.50% | 5.50% | 5.50% | 5.50% | 5.60% |
| Karur Vysya Bank | Private | 5.50% | 5.50% | 5.65% | 5.65% | 5.75% | 5.75% |
| Kotak Mahindra Bank | Private | 4.50% | 5.00% | 5.10% | 5.25% | 5.30% | 5.30% |
| Nainital Bank | Private | 5.25% | 5.35% | 5.35% | 5.35% | 5.35% | 5.35% |
| North East Small Finance Bank | Small Bank | 6.75% | 6.75% | 6.75% | 6.50% | 6.50% | 6.25% |
| Post Office Time Deposit | Post Office | 5.50% | 5.50% | 5.50% | x | 6.70% | x |
| Punjab and Sind Bank | Government | 5.15% | 5.15% | 5.30% | 5.30% | 5.30% | 5.30% |
| Punjab National Bank | Government | 5.10% | 5.10% | 5.25% | 5.25% | 5.25% | 5.25% |
| Ratnakar Bank | Private | 6.10% | 6.10% | 6.30% | 6.30% | 6.30% | 6.00% |
| South Indian Bank | Private | 5.40% | 5.40% | 5.50% | 5.50% | 5.65% | 5.50% |
| Standard Charted Bank | Foreign | 5.30% | 5.40% | 5.35% | 5.35% | 5.35% | x |
| State Bank of India | Government | 4.40% | 5.10% | 5.30% | 5.30% | 5.30% | 5.40% |
| Suryoday Small Finance Bank | Small Bank | 6.75% | 7.00% | 7.10% | 7.10% | 7.25% | 6.50% |
| Tamilnad Mercantile Bank | Private | 5.75% | 5.75% | 5.65% | 5.50% | 5.50% | 5.50% |
| UCO Bank | Government | 4.90% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
| Ujjivan Small Finance Bank | Small Bank | 6.50% | 6.75% | 6.75% | 6.75% | 6.75% | 5.80% |
| Union Bank of India | Government | 5.30% | 5.30% | 5.50% | 5.55% | 5.55% | 5.60% |
| Utkarsh Small Finance Bank | Small Bank | 6.75% | 6.75% | 6.75% | 6.75% | 6.75% | 6.75% |
| Yes Bank | Private | 6.00% | 6.25% | 6.50% | 6.50% | 6.75% | 6.75% |
