FD Interest Rate
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In this post we will let you know about the Fixed Deposit scheme, minimum & maximum period of investment and applicable rate of interest. We also compile here the list of Deposit rate of interest of all banks in India for your easy reference and comparision.

What is Fixed Deposit?

A Fixed Deposit (FD) is a common type of investment plan in which you can invest a sum of amount for a specific period of time. The fixed deposit typically offers a higher rate of interest than the normal savings account. Hence, at the time maturity, your investment will be return back to you along with the accumulated interest.

What are the minimum and maximum period of Fixed Deposit (FD)?

Generally, the amount you deposit in a Fixed Deposit is locked for a predetermined period between 7 days and 10 years. That is, the minimum period of Fixed Deposit is 7 days and maximum period is 10 years. However, if you want to invest for your minor (age<18 years) son/daughter, you can invest in fixed deposit for a maximum period of 20 years.

What is the Rate of Interest of Fixed Deposit (FD)?

Usually, Rate of Interest of Fixed Deposit is fixed for the whole investing period. That is, ROI will not be changed in the middle of FD. As a result, you will get guaranteed amount at the time of maturity as per the agreed ROI without fearing about the market fluctuations.

Deposit Rates of Public Sector Banks

Public sector banks are the banks where the Government of India owns the majority of stakes. The following table contains the deposit rate of various public sector banks in India. In order to give the correct data, we have collected this deposit rates from the official websites of the respective banks. You can also click on the Bank’s name in the table in order to navigate to respective banks official website. The data updated on 16th December 2021.

S.NoName of the Bank1 Year2 Year3 Year5 YearAbove  5 Year
1Bank of Baroda5.005.105.255.255.25
2Bank of India5.005.055.055.055.05
3Bank of Maharashtra4.904.904.904.904.90
4Canara Bank5.105.105.105.355.25
5Central Bank of India4.905.005.105.105.10
6Indian Bank4.955.105.205.255.15
7Indian Overseas Bank5.155.205.255.255.25
8Punjab & Sind Bank5.055.155.305.305.30
9Punjab National Bank5.005.005.105.255.25
10State Bank of India4.905.105.305.405.40
11UCO Bank4.905.005.005.055.05
12Union Bank of India 5.005.105.305.405.50

Deposit Rate of Private Sector Banks

Private Sector banks are the banks where the private owners have majority of stakes. The following table contains the deposit rate of various private sector banks in India. In order to give the correct data, we have collected this deposit rates from the official websites of the respective banks. You can also click on the Bank’s name in the table in order to navigate to respective banks official website.

S.No.Name of the Bank1 Year2 Year3 Year5 YearAbove  5 Year
1Axis Bank Ltd5.155.255.405.755.75
2CSB Bank Ltd5.005.005.255.255.50
3City Union Bank Ltd5.005.255.005.005.00
4DCB Bank Ltd.5.555.505.955.955.95
5Dhanlaxmi Bank Ltd.5.155.155.305.405.50
6Federal Bank Ltd.5.105.355.355.605.60
7HDFC Bank Ltd4.905.005.155.355.50
8ICICI Bank Ltd.4.905.005.205.405.60
9Induslnd Bank Ltd.6.006.006.006.005.50
10IDBI Bank Ltd5.055.155.405.255.25
11IDFC First Bank Ltd.5.255.255.756.006.00
12Jammu & Kashmir Bank Ltd.5.105.205.305.305.30
13Karnataka Bank Ltd.5.105.105.405.405.50
14Karur Vysya Bank Ltd.5.155.255.255.605.60
15Kotak Mahindra Bank Ltd4.755.155.305.305.30
16Lakshmi Vilas Bank Ltd.5.005.155.255.655.75
17Nainital Bank Ltd.5.105.355.355.355.35
18RBL Bank Ltd.6.006.006.306.505.75
19South Indian Bank Ltd.5.205.205.505.655.50
20Tamilnad Mercantile Bank Ltd5.255.255.355.355.00
21YES Bank Ltd.6.006.006.256.256.25

Deposit Interest Rate for Senior Citizen

All Public and Private sector banks offer an additional interest rate of 0.50% over and above the applicable card rate especially for Senior Citizen (age 60 years and above).

Fixed Deposit Interest Calculator

You can also use our standard Fixed deposit interest calculator for calculating your maturity interest.

Click Here to use our Fixed Deposit calculator.

Disclaimer: The above given Deposit interest details are only for information purpose. Further, Readers are advised to check the bank’s official website for correctness of the data. This website neither recommends or promotes any bank for the readers to put their deposit nor take any responsibility, in the event of a bank fails or reconstructed or amalgamated or merged with another bank.

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