Highest Interest Rate on Bank Fixed Deposits (FD) – July 2017

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Highest Interest Rate on Bank Fixed Deposits - July 2017

Highest Interest Rate on Bank Fixed Deposits – July 2017

The post lists down the rate of interest on Bank fixed deposits as of July 4, 2017.

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 Highlights:

  • 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
  • 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 10,000 in financial year per bank
  • There might be penalty for pre-mature withdrawal of Fixed Deposits

Also Read: Highest interest rate on savings account in India?

Fixed Deposit Interest Rates:

The highest interest rate on fixed deposit is offered by Deutsche Bank ( 5 Years) at 8.00%.

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

Also Read: 7 High Rated Companies Offering more than Bank Fixed Deposits

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.

Click for Best Tax Saving FDs u/s 80C

Interest Rate for FD of Less than 1 Year:

The highest interest rate is offered by The Ratnakar Bank (241 days to 364 days) at 7.10% .

Bank Description Interest Rate
Ratnakar Bank 241 days to 364 days 7.10%
Union Bank of India 10 Month to 14 Month 7.00%
Karnataka Bank 180 days 7.00%
IDFC Bank 181 – 365 days 7.00%
Ratnakar Bank 181 days to 240 days 7.00%
City Union Bank 181 days to 364 days 7.00%
Yes Bank 3 months to < 1 Year 7.00%
Bandhan Bank 6 months to less than 1 year 7.00%
Repco Bank 90 days – 364 days 7.00%
Union Bank of India 181 day to <10 Months 6.95%
Union Bank of India 180 days 6.90%
Karur Vysya Bank 91 Days to 180 Days 6.90%
Standard Charted Bank 181 – 364 days 6.80%
Dena Bank 271 days to 364 days 6.80%
DCB Bank 6 months to less than 12 months 6.80%
Tamilnad Mercantile Bank 180 days to less than 12 months 6.75%
Lakshmi Vilas Bank 181 – 364 days 6.75%
Karur Vysya Bank 181 Days to less than 1 year 6.75%
Indus Ind Bank 270 days or below 1 years 6.75%
Oriental Bank of Commerce 270 Days to less than 1 year 6.75%
Kotak Mahindra Bank 364 Days 6.75%
Ratnakar Bank 46 days to 180 days 6.75%
Axis Bank 9 months < 1 Year 6.75%
IDFC Bank 91 – 180 days 6.75%
City Union Bank 91 days to 180 days 6.75%
Kotak Mahindra Bank 180 Days 6.70%
Karnataka Bank 181 days to 364 days 6.70%
State Bank of India Government Bank Benchmark 5.50% – 6.50%
ICICI Bank Private Bank Benchmark 4.00% – 6.50%


Also Read:
 21 Hidden Charges in Saving Bank Account

Interest Rate for Fixed Deposit of 1 – 2 Years:

The highest interest rate is offered by IDFC Bank (366 days) & Repco Bank (18 Months, Exclusively for Women) at 7.50%.

Bank Description Interest Rate
IDFC Bank 366 days 7.50%
Repco Bank Repco Mahila (18 Months, Exclusively for Women) 7.50%
Ratnakar Bank 12 months to less than 24 months 7.40%
Bandhan Bank 1 year to less than 2 years 7.25%
IDFC Bank 361 – 1095 days 7.25%
Lakshmi Vilas Bank 500 Days 7.25%
Repco Bank 1 Year & Above – 2 years 7.25%
Indus Ind Bank 1 Years to below 1 Years 2 Months 7.15%
Yes Bank 18 Months 8 Days to 18 Months 18 Days 7.15%
City Union Bank 1 year 7.10%
DCB Bank 18 months to less than 24 months 7.10%
Yes Bank 1 Years to <= 10 years 7.10%
Indus Ind Bank 1 Years 2 Months to below 2 Years 7.05%
Axis Bank 1 year < 18 months 7.00%
DCB Bank 12 months to less than 18 months 7.00%
Karur Vysya Bank 2 years and above 7.00%
Lakshmi Vilas Bank 1 year to 999 days 7.00%
Tamilnad Mercantile Bank 1 Year to less than 3 Years 7.00%
Union Bank of India 10 Month to 14 Month 7.00%
HDFC Bank 1 year 1 day – 1 year 3 days 6.95%
State Bank of India Government Bank Benchmark 6.50% – 6.75%
ICICI Bank Private Bank Benchmark 6.90%
Post Office FD (1 year) Post Office 6.80%
Post Office FD (2 years) Post Office 6.90%

Click for Best Interest Rate on Recurring Deposits

Interest Rate for Fixed Deposit of 2 – 5 Years

The highest interest rate is offered by Deutsche Bank (5 Years) at 8.00%

Bank Description Interest Rate
Deutsche Bank 5 Years 8.00%
Lakshmi Vilas Bank 1000 Days 7.50%
Ratnakar Bank 24 months to less than 36 months 7.50%
Ratnakar Bank 36 months to less than 240 months 7.35%
DCB Bank 36 months to 60 months 7.25%
IDFC Bank 361 – 1095 days 7.25%
DCB Bank 24 months to less than 36 months 7.20%
IDFC Bank 3 years 1days – 10 years 7.20%
Yes Bank 36 Months 10 Days to 36 Months 20 Days 7.20%
Indus Ind Bank 2 years to below 2 years 6 Months 7.15%
Yes Bank 1 Years to <= 10 years 7.10%
Karur Vysya Bank 2 years and above 7.00%
Lakshmi Vilas Bank 1 year to 999 days 7.00%
Lakshmi Vilas Bank 1001 Days to 10 years 7.00%
Repco Bank Above 2 years – 5 Years 7.00%
Tamilnad Mercantile Bank 1 Year to less than 3 Years 7.00%
Bandhan Bank 2 years to less than 5 years 6.90%
Tamilnad Mercantile Bank 3 Years & above 6.90%
Punjab and Sind Bank 1 Year to 10 Years 6.85%
Dena Bank 3 years to less than 5 years 6.80%
Union Bank of India >14 Month to 10 Years 6.80%
State Bank of India Government Bank Benchmark 6.25%
ICICI Bank Private Bank Benchmark 6.75%
Post Office FD (2 years) Post Office 6.90%
Post Office FD (3 years) Post Office 7.10%
Post Office FD (5 years) Post Office 7.60%


Also Read:
 Where to Park Money for Very Short Term [less than 6 Months]?

Interest Rate for Fixed Deposit of 5 – 10 Years

The highest interest rate is offered by The Ratnakar Bank (36 months to less than 240 months) at 7.35%.

Bank Description Interest Rate
Ratnakar Bank 36 months to less than 240 months 7.35%
DCB Bank More than 60 months to 120 months 7.20%
IDFC Bank 3 years 1days – 10 years 7.20%
Yes Bank 1 Years to <= 10 years 7.10%
Dena Bank 5 years to 10 years 7.00%
Karur Vysya Bank 2 years and above 7.00%
Lakshmi Vilas Bank 1001 Days to 10 years 7.00%
Tamilnad Mercantile Bank 3 Years & above 6.90%
Punjab and Sind Bank 1 Year to 10 Years 6.85%
Union Bank of India >14 Month to 10 Years 6.80%
Indus Ind Bank 2 years 6 Months and above 6.75%
City Union Bank Above 5 years & upto 10 years 6.70%
Punjab National Bank above 5 years & upto 10 years 6.60%
State Bank of India Government Bank Benchmark 6.25%
ICICI Bank Private Bank Benchmark 6.50%

Also Read: How to fill Form 15G/H to avoid TDS deduction?

Interest Rate for Fixed Deposit of more than 10 Years

The Ratnakar Bank and IDBI bank offers fixed deposit of up to 20 years.

Bank Description Interest Rate
IDBI Bank 2 Years to 20 Years 6.50%
Ratnakar Bank 36 months to less than 240 months 7.35%


Source:
Bank Websites                                          Last Updated: July 4, 2017

Disclaimer: The Fixed Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD.

Also Read:13 Investments to Generate Regular Income

Fixed Deposit Interest Rate across all Banks

Until last month 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.

Banks 1 Years 2 Years 3 Years 4 Years 5 Years 5+ Years
Allahabad Bank 6.75% 6.75% 6.75% 6.50% 6.50% 6.50%
Andhra Bank 6.85% 6.85% 6.50% 6.50% 6.50% 6.50%
Axis Bank 7.00% 6.50% 6.25% 6.25% 6.25% 6.25%
Bandhan Bank 7.25% 7.25% 6.90% 6.90% 6.90% 6.50%
Bank of Baroda 6.90% 6.90% 6.75% 6.75% 6.75% 6.50%
Bank of India 6.80% 6.80% 6.70% 6.70% 6.70% 6.70%
Bank of Maharashtra 6.50% 6.25% 6.25% 6.00% 6.00% 6.00%
Canara Bank 6.75% 6.65% 6.65% 6.65% 6.65% 6.25%
Catholic Syrian Bank 6.50% 6.50% 6.75% 6.50% 6.50% 6.50%
Central Bank of India 6.50% 6.50% 6.50% 6.50% 6.50% 6.50%
Citibank 5.25% 5.25% 5.75 NA NA NA
City Union Bank 7.10% 6.85% 6.85% 6.85% 6.85% 6.70%
Corporation Bank 6.60% 6.60% 6.60% 6.50% 6.50% 6.50%
DCB Bank 7.00% 7.20% 7.25% 7.25% 7.25% 7.20%
Dena Bank 6.80% 6.80% 6.80% 6.80% 6.80% 7.00%
Deutsche Bank 6.00% 6.90% 7.00% 7.25% 8.00% NA
Dhanalakshmi Bank 6.75% 6.75% 6.50% 6.50% 6.50% 6.50%
Federal Bank 6.80% 6.80% 6.50% 6.50% 6.50% 6.50%
HDFC Bank 6.90% 6.25% 6.00% 6.00% 6.00% 6.00%
ICICI Bank 6.90% 6.90% 6.75% 6.75% 6.75% 6.50%
IDBI Bank 6.65% 6.50% 6.00% 6.00% 6.00% 6.00%
IDFC Bank 7.00% 7.25% 7.20% 7.20% 7.20% 7.20%
Indian Bank 6.50% 6.25% 6.25% 6.00% 6.00% 6.00%
Indian Overseas Bank 6.75% 6.50% 6.25% 6.00% 6.00% 6.00%
Indus Ind Bank 7.15% 7.15% 6.75% 6.75% 6.75% 6.75%
J&K Bank 6.75% 6.75% 6.75% 6.50% 6.50% 6.50%
Karnataka Bank 6.65% 6.65% 6.50% 6.50% 6.50% 6.50%
Karur Vysya Bank 6.75% 7.00% 7.00% 7.00% 7.00% 7.00%
Kotak Mahindra Bank 6.75% 6.50% 6.50% 6.25% 6.25% 6.25%
Lakshmi Vilas Bank 7.00% 7.00% 7.00% 7.00% 7.00% 7.00%
Oriental Bank of Commerce 6.85% 6.85% 6.50% 6.50% 6.50% 6.50%
Post Office 5 Year FD 6.80% 6.90% 7.10% NA 7.60% NA
Punjab and Sind Bank 6.85% 6.85% 6.85% 6.85% 6.85% 6.85%
Punjab National Bank 6.80% 6.70% 6.70% 6.70% 6.70% 6.60%
Ratnakar Bank 7.40% 7.50% 7.50% 7.35% 7.35% 7.35%
Repco Bank 7.25% 7.00% 7.00% 7.00% 7.00% NA
South Indian Bank 6.75% 6.50% 6.50% 6.50% 6.50% 6.50%
Standard Charted Bank 6.90% 6.50% 6.50% 6.50% 6.50% NA
State Bank of India 6.75% 6.50% 6.25% 6.25% 6.25% 6.25%
Syndicate Bank 6.50% 6.50% 6.60% 6.60% 6.60% 6.50%
Tamilnad Mercantile Bank 7.00% 7.00% 7.00% 6.90% 6.90% 6.90%
UCO Bank 6.65% 6.65% 6.50% 6.50% 6.50% 6.35%
Union Bank of India 7.00% 6.80% 6.80% 6.80% 6.80% 6.80%
United Bank of India 6.25% 6.00% 6.00% 6.00% 6.00% 6.00%
Vijaya Bank 6.50% 6.50% 6.50% 6.50% 6.50% 6.25%
Yes Bank 7.10% 7.10% 7.10% 7.10% 7.10% 7.10%

Helpful Posts on FD:

It would be helpful for you to look at following posts before you choose your fixed deposits:

  1. How to increase bank deposit insurance through Joint accounts?
  2. How Safe is Your Fixed Deposit in Bank?
  3. How you loose Money in Fixed Deposits?
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196 thoughts on “Highest Interest Rate on Bank Fixed Deposits (FD) – July 2017

  1. Dr Mallappa Sajjan says:

    SIR u have given us very useful information

  2. Hi Amit Ji,

    Your inputs are very appreciated,

    I have 1 lack rupees in my hand and planning to save for my Nephew (9 years old) for 5 to 10 years (need to get some high/better returns). Which one is better, FD/Mutual. Please guide me.

    Thanks in advance………. 🙂

  3. Hi amit i would like to save 4 lakh for 1 year and generate income for this amount every month for the next 1 year. what do you think will be the best deposit to pick?

  4. i want to ask u that i am NRI i have 50 lakh in hand…so which plan is best for me to get intrest monthly …garry singh

  5. Dear Amit,

    I have read all the blogs of you, it’s really very good, Kindly please suggest me, I was saving in smaller amount’s from my salary, Now they are seven lacks currently. my plan is to save for an House in future might be after six/seven years. Can you please suggest me where to Invest them to get more returns at the end ? or Can I get monthly interest amount from that seven lack’s if I invest in anywhere? Please suggest me there is no one to guide me, Please reply me, Thank you.

  6. The fixed deposit interest rates of state bank of india w.e.f 24.11.2016 for 5 years is 4.25 p.c and not 6.75 p.c shown wef 1.1.17

  7. Very helful

  8. Fine to have information on tips. Keep going with servises on line for FD with verious banks.

  9. Hi
    Amit ji
    i am having NRE account in axis bank. i have deposited 18 lakhs in axis bank long term equity fund deposite for 3 years. now days it is going down. can you please tell me that this bank is safe or not. now days there is news that bank is involves in corruption and mutual fund will go down. i should take the money from this bank and will fixed this amount in any government or should i keep with this bank. please give me your best suggestion.

    • axis bank long term equity fund is tax saving mutual fund and is not related to Axis Bank – except that they both belong to the same group. I assume you have been miss-sold a mutual fund in the guise of Fixed deposit.

      As for the investment going down, its linked to stock market and since markets are down so is the fund. Anyway equity funds are for long term and you should not worry much if you want to stay invested for more than 5 years. Also this fund has 3 year lock-in and hence cannot be redeemed before that.

  10. Very informative article sir,
    Your blog is too good and deserve to be Top financial blog in India. Thank you so much
    Regards.

  11. Fixed Deposit rates are falling and will soon be below inflation.. what can we do to protect our savings ?

  12. Hi Amit,
    currently there is news that within some days interest rates on FD and saving account are going to be reduced at higher rate.
    I want to know whether this is realy going to happen, or just a rumour.

    • There are always speculations and rumors about future interest rates. Unfortunately most experts are not able to predict it right every time. So we should not worry much on these lines!

  13. V.G. kulkarni says:

    I have rs.4 lakh present value with today’s nav ulip: matured now. Shall continue with ulip ?

  14. md gouse mohiddin says:

    As want for saving A/C %……

  15. Hi Amit,

    I have got 5 lac rs to invest. I want to invest for 6-8 months. What are the best option which gives me better returns.

  16. Dear Amit
    I have a corpus of 70 lakhs as my life savings & I need a monthly income from it to live my life with family, what would be the safest yet best instrument(s) to park my money in? kindly give me a detailed guide as to how should I go abt it.
    thanks a lot for your valuable advise.
    Nishanth

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