Top Banks Offering the Highest Interest Rates on Fixed Deposits (FDs)

Fixed Deposits (FDs) are a preferred investment option in India, known for their safety and consistent returns. While most banks provide FD options, interest rates vary significantly across different financial institutions. Currently, many Small Finance Banks offer higher FD interest rates compared to public sector, private sector, and foreign banks. Here’s a detailed look at the latest FD rates across these categories.

FD Rates in Small Finance Banks

Small Finance Banks currently offer the highest FD interest rates, often exceeding 8%.

1. Northeast Small Finance Bank:

   • Interest Rate: 9.00%
   • Tenure: 546 to 1111 days.

2. Unity Small Finance Bank:

   • Interest Rate: 9.00%
   • Tenure: 1001 days.

3. Suryodaya Small Finance Bank:

   • Interest Rate: 8.60%
   • Tenure: 2 to 3 years.

4. Utkarsh Small Finance Bank:

   • Interest Rate: 8.50%
   • Tenure: 2 to 3 years.

5. Equitas Small Finance Bank:

   • Interest Rate: 8.25%
   • Tenure: 888 days.

6. Jana Small Finance Bank:

   • Interest Rate: 8.25%
   • Tenure: 1 to 3 years.

FD Rates in Public Sector Banks

Public sector banks provide lower interest rates but are considered highly reliable.

1. Bank of Maharashtra:

   • Interest Rate: 7.45%
   • Tenure: 366 days.

2. Canara Bank:

   • Interest Rate: 7.40%
   • Tenure: 3 years to less than 5 years.

3. Central Bank of India:

   • Interest Rate: 7.50%
   • Tenure: 1111 or 3333 days.

4. Union Bank of India:

   • Interest Rate: 7.30%
   • Tenure: 456 days.

5. Indian Bank:

   • Interest Rate: 7.30%
   • Tenure: 400 days.

FD Rates in Private Sector Banks

Private sector banks offer better rates than public sector banks but generally lower than Small Finance Banks.

1. Bandhan Bank:

   • Interest Rate: 8.05%
   • Tenure: 1 year.

2. RBL Bank:

   • Interest Rate: 8.00%
   • Tenure: Up to 500 days.

3. DCB Bank:

   • Interest Rate: 8.05%
   • Tenure: 19 to 20 months.

4. HDFC Bank:

   • Interest Rate: 7.40%
   • Tenure: 55 months (4 years 7 months).

5. ICICI Bank:

   • Interest Rate: 7.25%
   • Tenure: 15 months to 2 years.

6. IndusInd Bank:

   • Interest Rate: 7.99%
   • Tenure: 1 year 5 months to less than 1 year 6 months.

7. IDFC First Bank:

   • Interest Rate: 7.90%
   • Tenure: 400 to 500 days.

FD Rates in Foreign Banks

Foreign banks also provide competitive interest rates on FDs.

1. Deutsche Bank:

   • Interest Rate: 8.00%
   • Tenure: 1 to 3 years.

2. Standard Chartered Bank:

   • Interest Rate: 7.50%
   • Tenure: 1 year to 375 days.

3. HSBC Bank:

   • Interest Rate: 7.50%
   • Tenure: 601 to 699 days.

Key Takeaways

• Small Finance Banks are the best choice for those seeking higher returns on FDs, with rates as high as 9%.
• Public sector banks remain a trusted option for stability, albeit with lower interest rates.
• Private and foreign banks provide a balance between competitive interest rates and reliable services.

Pro Tip: Compare interest rates and terms carefully before choosing a Fixed Deposit scheme to maximize returns on your investment.