The post lists down the rate of Fixed Deposit Interest Rates as of April 17, 2021. You might want to bookmark this page as the FD interest rates would be updated every month. Would help you in better decision making.
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 Jana Small Finance Bank (1188 Days – 1191 Days) at 7.51%. In traditional banks DCB Bank and Yes Bank are offering 6.75% for 36 months to 120 months tenure.
Also Read: HDFC Bank Q4 results: Net profit rises 18% to ₹8,186 cr
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 ESAF Small Finance Bank (183 days to 727 days) at 6.50%
- In traditional banks DCB Bank offers 5.95% for 6 months to less than 12 months tenure
| Bank | Type of Bank | Tenure | Interest Rate |
| ESAF Small Finance Bank | Small Bank | 183 days to 727 days | 6.50% |
| Suryoday Small Finance Bank | Small Bank | Above 9 months to less than 1 Year | 6.25% |
| ESAF Small Finance Bank | Small Bank | 91 days to 181 days | 6.00% |
| Jana Small Finance Bank | Small Bank | 181-364 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% |
| DCB Bank | Private | 6 months to less than 12 months | 5.95% |
| Indus Ind Bank | Private | 270 days or below 1 year | 5.75% |
| Yes Bank | Private | 9 months to < 1 Year | 5.75% |
| DCB Bank | Private | 91 days to less than 6 months | 5.50% |
| Indus Ind Bank | Private | 211 days to 269 days | 5.50% |
| Ratnakar Bank | Private | 241 days to 364 days | 5.50% |
| Yes Bank | Private | 6 months to < 9 months | 5.50% |
| Equitas Small Finance Bank | Small Bank | 181 – 364 days | 5.40% |
| 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% |
| Karnataka Bank | Private | 91 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% |
| 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 | 5.00% |
| Yes Bank | Private | 3 months to < 6 months | 5.00% |
| 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% |
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 Year | 3 Year | 4 Year | 5 Year | 5+ Year |
| 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% | 5.00% | 5.00% | 5.00% | 5.00% | 5.25% |
| DCB Bank | Private | 6.05% | 6.50% | 6.75% | 6.75% | 6.75% | 6.75% |
| 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 | 6.50% | 6.65% | 6.65% |
6.40% |
6.40% |
6.65% |
| ESAF Small Finance Bank | Small Bank | 6.50% | 6.50% | 6.25% |
6.00% |
6.00% |
5.50% |
| Federal Bank | Private | 5.10% | 5.50% | 5.35% |
5.35% |
5.50% |
5.50% |
| 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 | 5.10% | 5.10% | 5.10% |
5.10% |
5.10% |
5.10% |
| IDFC First Bank | Private | 5.75% | 6.00% | 5.75% |
5.75% |
5.75% |
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% |
6.50% |
| J&K Bank | Government | 5.10% | 5.20% | 5.30% |
5.30% |
5.30% |
5.30% |
| Karnataka Bank | Private | 5.30% | 5.55% | 5.55% |
5.55% |
5.55% |
5.70% |
| 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 | 5.25% | 5.25% | 5.25% |
5.25% |
5.25% |
5.25% |
| Punjab National Bank | Government | 5.20% | 5.20% | 5.20% |
5.30% |
5.30% |
5.30% |
| Ratnakar Bank | Private | 6.25% | 6.25% | 6.40% |
6.40% |
6.60% |
6.60% |
| 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 | 6.25% | 6.50% | 6.75% |
6.75% |
6.75% |
6.75% |
Fixed Deposit Interest Rates FAQs
Which is the best fixed deposit scheme in India?
As of April 2021, The highest interest rate on fixed deposit is offered by Jana Small Finance Bank (1188 Days – 1191 Days) at 7.51%. In traditional banks DCB Bank and Yes Bank are offering 6.75% for 36 months to 120 months tenure.
What is best FD for less than year?
The highest interest rate is offered by ESAF Small Finance Bank (183 days to 727 days) at 6.50%. In traditional banks DCB Bank offers 5.95% for 6 months to less than 12 months tenure
What is the top Fixed Deposit Interest Rates for 1 year in banks?
The best FD interest rates for 1 year deposit is offered by Jana Small Finance Bank (366 – 1095 Days) and Utkarsh Small Finance Bank (700 Days) at 7.00%. In traditional banks DCB Bank offers 6.70% for 700 days tenure
What is the top Fixed Deposit Interest Rates for 2 years in banks?
The best FD interest rates for 2 years is offered by Jana Small Finance Bank and Suryoday Small Finance Bank at 7.00%. In traditional banks DCB Bank offers 6.50%.
What is the top Fixed Deposit Interest Rates for 3 years in banks?
Jana Small Finance Bank offers 7.5% for 366 – 1095 Days FD. DCB Bank & Yes Bank offers 6.75% for 3 year fixed deposit scheme.
What is the top Fixed Deposit Interest Rates for 5 years in banks?
Jana Small Finance Bank and Suryoday Small Finance Bank offers 7.25% for 5 year fixed deposit scheme. DCB Bank & Yes Bank offers 6.75% for 36 months to 20 months tenure.
What is the top Fixed Deposit Interest Rates for more than 5 years in banks?
Most banks offer FD up to 10 years tenure. DCB Bank, Yes bank and Utkarsh Small Finance Bank offers 6.75% for 10 year deposit.
What is the maximum tenure of bank fixed deposits?
Most bank offer FD up to 10 years. However Ratnakar bank and IDBI bank offer deposits up to 20 years.
Are Bank FDs safe?
Generally speaking bank FDs are safe as banks are rigorously monitored by RBI. The FD in Government owned banks like SBI, PNB are the safest. This is because government would intervene and pay the depositors. Next is big private banks like ICICI & HDFC followed by smaller private banks. After this we have small finance banks. Co-operative banks are worst of the lot and I would not trust them with my money. So until there are compelling circumstances keep away from co-operative banks. You can learn from recent example where Yes Bank was rescued by the government and no depositors suffered. However depositors of PMC Bank (a co-operative bank) are still suffering. You can learn more about this in our detailed article about How safe is your Bank Fixed Deposit?
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