Fixed deposits interest rates in India

by Manshu on May 19, 2010

in Fixed Deposits

Update: I am no longer updating this page, but you can find some of the best interest rates currently offered in India here.

As I reviewed my bank interest rates in India page to see if it needed to be updated – I saw that I didn’t include a few banks that were paying a pretty decent interest rate on fixed deposits in India.

So, let me show you an updated table of banks and the fixed deposit interest rates they are paying right now. As I went about making this fixed deposit comparison, I realized that a lot of banks pay less than 3.5% on fixed deposits of say 45 days or less. The savings account pays 3.5% so why would anyone make a fixed deposit of anything less than 3.5%?

Am I missing something?

Updated on 10th Jan 2011

Update: Feb 27th 2011

S.No. Bank 1 Year to < 2 years 2 Years to < 3 years 3 Years to < 5 years More than 5
1 Allahabad Bank 8.00% 8.25% 8.25% 8.30%
2 Andhra Bank 9.00% 9.25% 8.00% 8.00%
3 Axis Bank 8.75% 8.25% 7.00% 7.00%
4 Bank of Baroda 8.75% 9.10% 8.75% 8.25%
5 Bank of India 8.75% 9.25% 8.25% 7.00%
6 Bank of Maharashtra 8.30% 9.25% 8.30% 8.00%
7 Canara Bank 8.75% 9.10% 9.25% 8.00%
8 Central Bank of India 8.75% 8.75% 8.80% 8.60%
9 Dena Bank 8.25% 9.00% 8.25% 7.75%
10 HDFC Bank 8.25% 9.00% 8.25% 8.25%
11 ICICI Bank 8.50% 9.25% 9.25% 8.25%
12 IDBI Bank 9.00% 9.25% 8.60% 8.50%
13 Indian Bank 8.50% 9.40% 8.50% 8.00%
14 Indian Overseas Bank % % % %
15 Indus Ind Bank 9.00% 8.75% 8.75% 8.50%
16 J&K Bank 8.50% 8.50% 8.50% 8.25%
17 Karnataka Bank 9.75% 9.50% 9.25% 8.75%
18 Karur Vysya Bank 10.00% 9.75% 9.00% 8.00%
19 Kotak Bank 9.25% 9.40% 9.25% 8.75%
20 PNB % % % 8.50%
21 Punjab and Sind Bank 9.00% 9.25% 9.05% 8.75%
22 South Indian Bank 9.25% 8.75% 8.75% 8.25%
23 State Bank of Hyderabad % 9.25% 8.75% 8.75%
24 State Bank of India 8.25% 9.00% 8.25% 8.50%
25 State Bank of Patiala 8.50% 9.00% 8.25% %
26 State Bank of Travancore 9.25% 9.25% 9.25% 8.75%
27 Syndicate Bank 9.25% 9.25% 9.00% 8.60%
28 UCO Bank 9.00% 8.50% 8.50% 7.75%
29 Union Bank of India 8.50% 8.75% 9.00% 8.00%
30 Vijaya Bank 9.25% 9.25% 8.50% 8.25%

Click on the New Here page to see how you can make the best use of this site.

Update: For some time there used to another fixed deposit interest rates in India page which had a few more banks than given in this list, but now I have included all those here as well.

Click on the New Here page that tells you how to make the best use of this site.

{ 57 comments… read them below or add one }

Indian Thoughts May 19, 2010 at 10:26 PM

less then 3.5% FDs of small period existed before the rule of daily intrest came into picture. Banks are not withdrawing them to take advantage of lack-of-calculation-at-times attitude.

Infact I also created one FD for 25 days at 2.75% even after this rule came into picture just because I used to do same before and just forgot while following my habit. 2-3 days later I read about this in some blog, most probably urs, and then realized that I did soemthing silly again.

I am sure thr will be more ppl like me out there. So this helps bank.

Also, sometimes we need money exactly after says X number of days. Keeping that money in savings account is little dangerous because some ppl tend to spend it by mistake. In those cases ppl (i am in this category actually) tend to actually open FDs( to block the money) so that they can’t see the money till its planned expense.

PF is funny and it for sure brings many funny and wierd habits in ppl. 🙂

Reply

Manshu May 20, 2010 at 7:46 AM

That makes sense to me, and probably that’s what is going on with this. Thanks for sharing.

Reply

Editor @ Double My Net Worth May 23, 2010 at 3:45 AM

Is there a way American investors can open an account and deposit some money to earn interest seeing how it is better than the current U.S. rates?

Reply

Anand June 2, 2010 at 3:27 AM

Hi,

The City union bank too gives a good intrest rate. Check the link for same.
http://cityunionbank.com/home/interest.htm

@Editor you can also check this link as they do offer some for Foreigners.

PERIOD
Rate of Interest % p.a.

General
Senior Citizens

15 days to 90 days
4.00 4.00
91 days to 180 days
5.00 5.00
181 days to 364 Days
6.50 6.50
1 year and above but Less than 3 Years
7.50 8.00
3 Years and above
8.00 8.25
Tax Saver Scheme 8.50 8.50

Reply

prashant August 6, 2010 at 6:14 AM

Can u pls. update me with the current interest rate for all products of indian banking industry as on 06/08/20010

Reply

S.Ramnath November 29, 2014 at 10:35 PM

Sir pl let me know the fixed deposit rates in nationalised bank in the
Year2010
Pl send me reply on srnath99yahoo.com

Reply

rashmi October 2, 2010 at 8:09 AM

sir,
i want to know the current interest rates of fixed deposit. i have already invest ed since two year back.

Reply

Sachidanand kumar January 8, 2012 at 9:13 AM

Sir,my father of 77 is going to deposit 200000 in FD for 6 years . How much will he be getting every month in monthly interest system ?

Reply

Manshu January 9, 2012 at 3:09 AM

That depends on the bank and the interest rate you get plus the tax slab he falls under etc. Best to go to the bank and ask them about this question.

Reply

A.L.PAVAN RAGAVENDER November 2, 2010 at 5:15 AM

Gud Eve Sir,
This is PAVAN RAGAVENDER from Hyderabad.i want to know which bank is the best onre to deposit fd for a period of 1 to 2 years and that too the banks offering high interest rates.pls suggest me in this regard.

With Regards
A.L.Pavan Ragavender

Reply

Manshu November 2, 2010 at 3:26 PM

Hi Pavan,

State Bank of Hyderabad has a special scheme going on right now which offers 7.75% for 500 days. This scheme looks good to me with a reasonably good rate compared to other banks.

There might be other banks offering more or companies offering a better rate, but I may not be aware of them.
Hope this helps.
http://sbhyd.com/deposits_sbh500spltermdeposit.asp

Reply

Imran November 29, 2010 at 5:36 AM

Hi,

Interest rates for HDFC Limited Fixed Deposits have been increased. Great time to invest in the same. Cumulative for 3 Years is 8.2% .

We deal in most of the top rated Fixed Deposits with best returns to offer. If you wish to invest or have any query please feel free to call me @ 99200-67880 or write to me at [email protected]

Regards,
Imran

Reply

rahul kumar December 1, 2010 at 8:41 AM

sir,
i want to know that how many intrest of Rs.20000 period of 5 years in UCO BANK.
please say how many total amount in 5 years.

Reply

Manshu December 1, 2010 at 12:47 PM

The rate of interest for this option is 7.5% Rahul. You can go to your nearest UCO branch and open the FD if you’re interested.

Reply

Imran December 1, 2010 at 9:57 PM

Hi Rahul,

HDFC will offer you 8.20% for 3 years and 8.35% for 5 years, if you looking @ better interest rate this could be a better option.

Else, Manshu have already informed you about the UCO Bank…

Imran

Reply

sanjeev December 5, 2010 at 3:26 AM

dear sir,

what are the best source to invest in equity mutual fund through sip and which is the best fund, i heard about hdfc top 200 is it right,and if it is ok how to invest in it.

Reply

sanjeev December 5, 2010 at 3:30 AM

dear sir,

is it right way to directly invest one bulk amont(1lac) amount in mutual fund,iam first timer so far never dared to go in for mutual funds pl suggest me the right oppurtunities

Reply

Manshu December 5, 2010 at 9:58 AM

No Sanjeev, In my opinion that’s not a very good idea. Spread out your investment by using a Systematic Investment Plan (SIP), and I’d say start conservatively to get a feel of the market first.

The stock market is a very volatile place, and if you’re just starting out, then start off with a much smaller sum than you originally thought, and get a feel for the volatility of the market and just generally how it feels for a year or so before you go all in.

Reply

Imran December 5, 2010 at 6:45 AM

Dear Sanjeev,

Yes, HDFC top 200 has been one of the best performing Mutual Funds. SIP is one of the better routes to invest into Equity Mutual Funds.

However, before anyone would advice you on a particular fund one should understand your risk appetite and needs.

Also, as we say never put all eggs into one basket you can diversify your investments into a couple of top performing funds.

If you in Mumbai, and wish to know more on how and where to invest feel free to call me on +91-99200-67880 or write me on [email protected]

Regards

Imran

Reply

chaskar December 9, 2010 at 11:35 PM

hi there..
i am a nri here and am seeking for investing funds.
anyone could advise plz..
thinging about unit-trust and fd’s.
anyone there?
could maybe mail or call me ; 9779-190-129 ~ [email protected]

Reply

Kavitha December 10, 2010 at 1:09 AM

Would like to invest 10,000 p.m for so that i can benefit after my retirement.
Where is the best option to invest.

Thanks,
Kavitha

Reply

Manshu December 10, 2010 at 10:25 AM

The best option depends on your risk appetite and existing investments Kavitha. The options you can consider are starting up a Systematic Investment Plan (SIP) in a debt and an equity mutual fund, investing some money in safe fixed deposits etc. There is no standard “best” option for everyone so you will have to either do a bit of research yourself to see what works for you or hire an advisor that can help you do this.

Reply

V K Aggarwal January 10, 2011 at 2:48 AM

The Banks has revised the rates of interest of fixed deposits for one year or more periods. Kindly inform me which Bank pays maximum rate of interest on fixed deposits at present.

Reply

Krishna February 9, 2011 at 11:14 AM

Currently, Karur Vysya Bank has the highest interest rate on FD of 10.25% for 555 days. For Senior Citizens it pays 10.5% for 555 days

Reply

Manshu February 11, 2011 at 4:45 AM

Thanks for that info Krishna.

Reply

anil February 19, 2011 at 12:11 AM

how do i get rs, 400000. p. m. as intrest for at least 10 years.

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Manshu February 20, 2011 at 5:20 PM

That’s about 50 lacs interest per annum. So I think if you make a fixed deposit of 5 crores or around that figure you should be able to get to this amount.

Reply

Man Mohan March 19, 2011 at 2:09 AM

What was the SBI TERM DEPOSIT rates for 1 year 4 months normal and senior citizen as on 16 th Nov 2009

Reply

Manshu March 19, 2011 at 6:33 PM

Don’t know that and not likely you will get an answer here.

Reply

Hazel D'Silva April 5, 2011 at 10:57 AM

Can you please send me NRO fixed depost rates. Please send it to my personal email [email protected]

Reply

Manshu April 5, 2011 at 5:12 PM

You can find the interest rates on this post:

http://icicibank.com/interest-rates.html

NRO rates are usually same as regular interest rates, so you can refer to this list.

Reply

jayavibhava swamy May 15, 2011 at 11:26 PM

I am an Administrative Officer presently working as Executive Officer to Malai Mahadeshwara Hills, Chamarajanagara District, Karnataka State. I want to find out which Nationalised bank is ready to offer highest interest rates for more than one crore and for less than 5 crore (Temple money). Interested Natonalised bank should also be willing to gift required items to the temple which should be equivalent to 1% of the deposit amount and it should be over and above the interest rate specified by them. Interested banks may please contact me on my email and sent their offer with telephone nos address and email to my email immediately.
From : Jayavibhava Swamy, K.A.S.,
Executive Officer and Officer on Special Duty,
Malai Mahadeshwara Temple, Malai Mahadeshwara Hills,
Chamarajanagar District, Karnataka State.

Reply

kauleshwar kumar May 18, 2011 at 3:11 AM

hi!
The bellow mentioned following bank decleared rate of intrest .But, here i am very confused about that, if keeping my money for 5 year, i well get lower rate of intrest compare to 3 year . kindly advise me what is the reason for the same.
1 Year to < 2 years 2 Years to < 3 years 3 Years to < 5 years More than 5
1 Allahabad Bank 8.00% 8.25% 8.25% 8.30%
2 Andhra Bank 9.00% 9.25% 8.00% 8.00%
3 Axis Bank 8.75% 8.25% 7.00% 7.00%
4 Bank of Baroda 8.75% 9.10% 8.75% 8.25%
5 Bank of India 8.75% 9.25% 8.25% 7.00

Reply

Manshu May 18, 2011 at 4:40 PM

Banks expect interest rate to lower in a longer time frame, you can take advantage of the higher rates right now by shorter durations. The other way of locking a high interest rate like 9.75% or so for ten or fifteen years can be by buying SBI bonds from the secondary market.

Reply

jeya devi May 20, 2011 at 9:17 AM

hi…
i have a doubt about crop loans ..i have applied 3lakhs on my property for crop cultivation…i had received only 1lakh out of 3 lakhs …before a week i have approached with the bank manager for another one lakh settlement…he did not sanction me,what is the reason…Is? there any fault in my side.If there is absence of fault in my side,what type of step i can carry over?

Reply

jeya devi May 20, 2011 at 9:33 AM

hi…
i have a doubt about crop loans ..i have applied 3lakhs on my property for crop cultivation…i had received only 1lakh out of 3 lakhs …before a week i have approached with the bank manager for another one lakh settlement…he did not sanction me,what is the reason…Is? there any fault in my side.If there is absence of fault in my side,what type of step i can carry over?

Reply

Manshu May 21, 2011 at 12:42 PM

I don’t know anything about crop loan to be able to answer you but if you feel that you’re not being treated fairly you can try approaching the banking ombudsman. Here is a link with some details.
https://secweb.rbi.org.in/BO/compltindex.htm

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marjay May 29, 2011 at 3:19 AM

Dear Sir,
I am an NRE, planning to return to India soon.I would like to deposit my gratuity in a bank that gives maximum monthly interest.Please let me know the interest rate and the bank.
Thanks.

Reply

S. J Desai July 28, 2011 at 10:55 AM

I appreciate your efforts to provide much needed information of FD rates of many banks. It will be very much usefull to me.
It would be more justified if u include in youe list banks such Yes Bank which gives higher rate of interest on FDS. eg. it provides 10.60% to Senior Citizen for 15 months 20 days.

Reply

nanda kishore September 4, 2011 at 10:34 AM

sir, i came to know that some of banks are giving initially with high interest rate and then reducing their interest rates, why it is i don’t know please reply . i am kishore.

Reply

Manshu September 5, 2011 at 6:13 AM

No Kishore, they can’t and won’t do it. So, if you go to SBI and say you want to open a FD for five years, and then they say that this is the rate of interest you will get – you will continue to get that rate of interest for the duration of your FD.

Reply

ramesh September 4, 2011 at 8:54 PM

Dear sir,

i appreciate your services to public but please check before posting or please regularly watch related website and update frequently when the market rates are change because idbi bank rate of interest is changed.
for your reference please visit http://idbi.com/interest_rate.asp
thanking you
yours faithfully,
ramesh-chennai 4th avenue

Reply

Umesh September 6, 2011 at 9:29 PM

Hi Manshu

I hope that the readers of wood-sculpture will find following links useful

A. Get the Highest FD Interest Rates
1. For Fixed Deposits
2. Tax Savings Fixed Deposits
3. NRI Fixed Deposits

http://ratekhoj.com/fixed-deposits/index.php

A (a) Fixed Deposit Rates
You can get FD rates based on institution types like banks (Public Sector / Nationalized Banks, Indian Private Sector Banks, Foreign Banks, Cooperative Banks, Post Office Savings Schemes, Companies etc.). You can get interest rates selecting as per deposit period range or you can select specific deposit period for your fixed deposit. You can also search for senior citizen and non senior rates as well. Many banks pay different rates of interest for large deposits, you can select this criteria as well.

The search is broadly categorized in 4 types:

1. FD rates based on institution type/deposit period range
2. FD rates based on institution type/specific deposit period
3. FD rates in selected institutions/deposit period range
4. FD rates in selected institutions/deposit period range

You then fill your search criteria and the resulting table can runs into hundreds of pages. In many cases you have to narrow your search or you have to be specific in your search so that the table may not run in many pages.

You can sort this table as per you choice as per alphabetical list of institutions, period of deposit and rate of interest (highest to lowest) by clicking on the first row of the table.

http://ratekhoj.com/fixed-deposits/fixed-deposit-rates/index.php

B. Calculators

Fixed Deposit Interest Calculator – Calculate how much interest payments you can get based on your fixed deposit amount, interest rate and interest payment period.

FD Maturity Calculator – Calculate the maturity amount and effective yield (compound interest rate) of your fixed deposit based on your deposit amount, interest rate and duration

http://ratekhoj.com/calculators.php

C. Find Bank IFSC Codes, MICR Codes, Postal Addresses

http://ratekhoj.com/banks/index.php

Umesh

Reply

Avinash Taneja November 13, 2011 at 9:47 PM

As suggested by Umesh I went through the site http://ratekhoj.com today and found the site quite informative and really useful. Further a few days back I had gone through another site http://thebankingbible.com and hope that this site would also be useful for the readers. Here are the links of the site.
http://thebankingbible.com/best-fixed-deposit-interest-rates-of-banks-1069
http://thebankingbible.com/comparison-of-nre-fixed-deposit-interest-rates-of-banks-1385

Reply

pradeep kumar January 24, 2012 at 3:56 PM

sir,
I (PRADEEP KUMAR) want to know that some information about fixed deposite of SBI.
if i done one FD of 10,lakhs then how much rate of interest could be given by bank
and also i would like to know that if i m taking a loan on that F.D than how much rate of
interest i will paid .

Reply

Manshu January 24, 2012 at 8:25 PM

9% or so and best way to get details are to go to a branch of SBI and ask them. This website is not related to SBI at all.

Reply

raju August 11, 2012 at 9:03 AM

I had account in SBi @ TN State…

Now i am @ Maharastra State..along with my bank passbook….Now i want to open Fixed Deposit account @ MH State…also PAN details are not updated with my bank..

So, now can i open FD account @ MH State….

Please clarify me…

Reply

Manshu August 11, 2012 at 9:17 PM

Yes you can, just go to the bank and they will assist you.

Reply

paresh bhatt August 18, 2012 at 1:13 PM

iI WANT TO KNOW TERM DEPOSITE RATES FOR 2006–2007 FOR UNION BANK
OF INDIA PL. HELP

Reply

ppkohli August 25, 2012 at 9:36 PM

this is an old update. pleasssssse update las=test

Reply

Augustine D'Lima September 25, 2012 at 11:42 AM

Can you please provide me the NRE Fixed Deposit interest rates prevailing in 2010 (Jan to Dec)
for one year period of SBI and Axis Bank ? Thanks.

Reply

Rahul October 3, 2012 at 8:06 AM

please explain SBI mod balance interest…

Reply

kaushik mehta July 11, 2014 at 11:10 PM

You have written that you have not updated your rate of intrest since 2011 .It is not understood how it has happened that update work has gone back.Please do it fast.One more suggestion you should give two diffrent rate one for common man and another for senior citizen.

Reply

DHDHARMENDRA DAVE October 10, 2014 at 12:00 AM

EXCELLENT INFORMATION FOR ALL LEVEL OF BANK CUSTOMERS. BUT I DEMANDING TO PRESENT FD INTEREST CALCULATES CALCULATOR

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Vinit Kumar Doshi December 17, 2014 at 2:24 PM

Hi, Any idea which Banks are offering higher rate of interest for NRI Fixed Deposits at the present moment. Thanks for your assistance.

Reply

Raghu January 13, 2015 at 10:39 PM

i want to know that 2014 fb rates for diposite of200000

Reply

Kiran September 17, 2015 at 1:38 PM

Dear Sir,
I am Kiran would like to invest my surplus money in a FD for one to two years. Is there any other alternative than a Bank/Postal FD which provides higher return without risk. could you please advise.

Kiran

Reply

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