Want to know what the best FD interest rates in India currently are? Check out this comprehensive list.
Tags: best fixed deposit rates in India, best fd interest rates in India, highest fd interest rates in India
Fixed deposits are among the few secure and low risk investment options available to individuals. They’re not only easy and convenient to invest in, but also provide guaranteed returns. And when it comes to fixed deposits, banks are not the only financial entities that offer them.
In fact, many Non-Banking Financial Companies (NBFCs) also offer fixed deposit facilities to individuals. One of the primary characteristics of an FD is that the interest rate that it comes with is subject to change in accordance with the Reserve Bank of India’s repo rate. And so, keeping track of the current FD interest rates can become quite a challenge.
If you’re one of the few individuals who are in this situation and are looking for the highest FD interest rates in India, this article may just be of help to you. Here are some of the best FD interest rates in India offered by both banks and NBFCs.
FD interest rates offered by banks
Here’s a list of banks that offer some of the most competitive FD interest rates in India.
| Bank | Regular interest rate (per annum) | Senior citizen interest rate (per annum) | Tenure |
| HDFC Bank | 5.50% | 6.25% | 5 years 1 day to 10 years |
| ICICI Bank | 5.50% | 6.30% | 5 years 1 day to 10 years |
| State Bank of India | 5.40% | 6.20% | 5 years 1 day to 10 years |
| Axis Bank | 5.75% | 6.50% | 5 years 1 day to 10 years |
| YES Bank | 6.50% | 7.25% | 5 years 1 day to 10 years |
| IndusInd Bank | 6.25% | 6.75% | 5 years 1 day to 10 years |
| Canara Bank | 5.50% | 6.00% | 5 years 1 day to 10 years |
| Kotak Mahindra Bank | 5.30% | 5.80% | 5 years 1 day to 10 years |
| RBL Bank | 6.00% | 6.50% | 5 years 1 day to 10 years |
| IDFC First Bank | 5.75% | 6.25% | 5 years 1 day to 10 years |
| Bandhan Bank | 5.00% | 5.75% | 5 years 1 day to 10 years |
| Fincare Small Finance Bank | 5.50% | 6.00% | 66 months 1 day to 84 months |
| ESAF Small Finance Bank | 5.25% | 5.75% | 1821 days to 3653 days |
| Utkarsh Small Finance Bank | 6.75% | 7.25% | 701 days to 3652 days |
| Suryoday Small Finance Bank | 6.00% | 6.00% | 5 years 1 day to 10 years |
| Jana Small Finance Bank | 6.00% | 6.50% | 5 years 1 day to 10 years |
| Ujjivan Small Finance Bank | 5.80% | 6.30% | 5 years 1 day to 10 years |
FD interest rates offered by NBFCs
Now that you’ve taken a look at some of the best FD interest rates in India offered by banks, let’s quickly run through the rates offered by NBFCs.
| NBFC | Regular interest rate (per annum) | Senior citizen interest rate (per annum) | Tenure |
| Bajaj Finserv | 6.50% | 6.75% | 5 years |
| Mahindra & Mahindra Financial Services Limited | 6.45% | 6.70% | 60 months |
| Shriram City Union Finance | 7.95% | 8.35% | 60 months |
| KTDFC Ltd | 5.75% | 6.00% | 5 years |
| Sundaram Finance | 6.25% | 6.75% | 36 months |
Conclusion
Although banks are not that far, some of the best fixed deposit rates in India are offered by NBFCs. That said, before investing in an FD with an NBFC ensure to do a thorough check of their credit ratings to determine their repayment capability. You can select from a wide range of FDs on Finserv MARKETS and make the right investment choice.