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

The post lists down the rate of interest on Bank fixed deposits as of December 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: How SWP in Debt Funds generate higher returns than FD

Fixed Deposit Interest Rates:

The highest interest rate on fixed deposit is offered by Deutsche Bank ( 5 Years) at 7.75%.

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 City Union Bank (181 days to 364 days), IDFC Bank (181 – 365 days) & Repco Bank (90 days – 364 days) at 7.00% .

Bank Description Interest Rate
City Union Bank 181 days to 364 days 7.00%
IDFC Bank 181 – 365 days 7.00%
Repco Bank 90 days – 364 days 7.00%
Bandhan Bank 6 months to less than 1 year 6.90%
Karnataka Bank 180 days 6.90%
Karur Vysya Bank 91 Days to 180 Days 6.90%
Ratnakar Bank 181 days to 364 days 6.85%
City Union Bank 91 days to 180 days 6.75%
IDFC Bank 91 – 180 days 6.75%
Karur Vysya Bank 181 Days to less than 1 year 6.75%
Lakshmi Vilas Bank 181 – 364 days 6.75%
Ratnakar Bank 46 days to 180 days 6.75%
Tamilnad Mercantile Bank 180 days to less than 12 months 6.75%
Union Bank of India 10 Month to 14 Month 6.75%
Yes Bank 3 months to < 10 Years 6.75%
DCB Bank 6 months to less than 12 months 6.65%
Indus Ind Bank 270 days or below 1 years 6.50%
Standard Charted Bank 181 – 364 days 6.50%
Union Bank of India 181 day to <10 Months 6.50%
State Bank of India Government Bank Benchmark 5.25% – 6.25%
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) at 7.50%.

Bank Description Interest Rate
IDFC Bank 366 days 7.50%
Repco Bank Repco Mahila (18 Months, Exclusively for Women) 7.35%
IDFC Bank 361 – 1095 days 7.25%
Lakshmi Vilas Bank 725 Days 7.25%
Repco Bank 1 Year & Above – 2 years 7.25%
Bandhan Bank 1 year to less than 2 years 7.15%
City Union Bank 1 year 7.10%
Ratnakar Bank 12 months to less than 24 months 7.10%
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%
Yes Bank 18 Months 8 Days to 18 Months 18 Days 6.95%
DCB Bank 18 months to less than 24 months 6.90%
Deutsche Bank 1 Year to 2 Years 6.90%
Axis Bank 17 months < 18 months 6.85%
DCB Bank 12 months to less than 18 months 6.85%
Indus Ind Bank 1 Years to below 1 Years 2 Months 6.85%
Karnataka Bank 1 year to 2 years 6.85%
South Indian Bank 18 months (SIB – 18) 6.85%
Kotak Mahindra Bank 390 Days (12 months 25 days) 6.80%
Axis Bank 1 Year < 17 months 6.75%
HDFC Bank 1 year 1 day – 1 year 3 days 6.75%
Indus Ind Bank 1 Years 2 Months to below 2 Years 6.75%
J&K Bank 1 year to less than 2 years 6.75%
Kotak Mahindra Bank 365 Days to 23 Months 6.75%
Standard Charted Bank 1 Year – 375 days 6.75%
Union Bank of India 10 Month to 14 Month 6.75%
Yes Bank 3 months to < 10 Years 6.75%
Federal Bank 1 year 6.70%
Bank of Baroda Above 1 year to 400 days 6.65%
Bank of India 1 Year & above to less than 2 Yrs 6.60%
Central Bank of India 1 yr to less than 2 yrs 6.60%
Dhanalakshmi Bank 1 Year and above upto & inclusive of 2 years 6.60%
Federal Bank Above 1 year to 2 years 6.60%
Oriental Bank of Commerce 1 year to less than 2 year 6.60%
State Bank of India Government Bank Benchmark 6.25%
ICICI Bank Private Bank Benchmark 6.75%
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 7.75%

Bank Description Interest Rate
Deutsche Bank 5 Years 7.75%
IDFC Bank 361 – 1095 days 7.25%
IDFC Bank 3 years 1days – 10 years 7.20%
Ratnakar Bank 24 months to less than 36 months 7.20%
DCB Bank 36 months to 60 months 7.10%
Ratnakar Bank 36 months to less than 240 months 7.10%
DCB Bank 24 months to less than 36 months 7.00%
Karur Vysya Bank 2 years and above 7.00%
Lakshmi Vilas Bank 1 year 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%
Yes Bank 36 Months 10 Days to 36 Months 20 Days 7.00%
Tamilnad Mercantile Bank 3 Years & above 6.90%
City Union Bank Above 1 year & upto 5 years 6.85%
Bandhan Bank 2 years to less than 5 years 6.80%
Catholic Syrian Bank 3 Years 6.75%
Indus Ind Bank 2 years to below 2 years 6 Months 6.75%
Yes Bank 3 months to < 10 Years 6.75%
Syndicate Bank Above 2 year & upto 5 years 6.60%
Bank of India 2 years & above to less than 3 years 6.50%
Punjab National Bank Above 1 year & upto 3 years 6.50%
Union Bank of India >14 Month to 10 Years 6.50%
State Bank of India Government Bank Benchmark 6.00%
ICICI Bank Private Bank Benchmark 6.50%
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 IDFC Bank (3 years 1 days – 10 years) at 7.20%.

Bank Description Interest Rate
IDFC Bank 3 years 1 days – 10 years 7.20%
Ratnakar Bank 36 months to less than 240 months 7.10%
DCB Bank More than 60 months to 120 months 7.00%
Karur Vysya Bank 2 years and above 7.00%
Lakshmi Vilas Bank 726 Days to 10 years 7.00%
Tamilnad Mercantile Bank 3 Years & above 6.90%
Yes Bank 3 months to < 10 Years 6.75%
City Union Bank Above 5 years & upto 10 years 6.70%
Indus Ind Bank 2 years 6 Months and above 6.50%
Union Bank of India >14 Month to 10 Years 6.50%
State Bank of India Government Bank Benchmark 6.00%
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
Ratnakar Bank 36 months to less than 240 months 7.10%
IDBI Bank 5 Years to 20 Years 6.00%


Source:
Bank Websites                                          Last Updated: December 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

Highest Interest Rate on Bank Fixed Deposits - December 2017

Highest Interest Rate on Bank Fixed Deposits – December 2017

Earlier 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 6.50% 6.50% 6.50% 6.50% 6.50% 6.50%
Andhra Bank 6.50% 6.50% 6.25% 6.25% 6.25% 6.25%
Axis Bank 6.75% 6.85% 6.25% 6.25% 6.25% 6.25%
Bandhan Bank 7.15% 7.15% 6.80% 6.80% 6.80% 6.40%
Bank of Baroda 6.60% 6.65% 6.50% 6.50% 6.50% 6.50%
Bank of India 6.60% 6.50% 6.50% 6.30% 6.30% 6.25%
Bank of Maharashtra 6.50% 6.25% 6.25% 6.00% 6.00% 6.00%
Canara Bank 6.50% 6.30% 6.20% 6.20% 6.20% 6.00%
Catholic Syrian Bank 6.50% 6.50% 6.75% 6.50% 6.50% 6.50%
Central Bank of India 6.60% 6.50% 6.50% 6.50% 6.50% 6.50%
Citibank 5.00% 5.00% 5,25% NA NA NA
City Union Bank 7.10% 6.85% 6.85% 6.85% 6.85% 6.70%
Corporation Bank 6.50% 6.50% 6.50% 6.50% 6.50% 6.50%
DCB Bank 6.65% 6.90% 7.10% 7.10% 7.10% 7.00%
Dena Bank 6.50% 6.50% 6.25% 6.25% 6.30% 6.30%
Deutsche Bank 6.75% 6.75% 6.75% 7.00% 7.25% NA
Dhanalakshmi Bank 6.60% 6.60% 6.50% 6.50% 6.50% 6.50%
Federal Bank 6.70% 6.60% 6.50% 6.50% 6.50% 6.50%
HDFC Bank 6.75% 6.25% 6.00% 6.00% 6.00% 6.00%
ICICI Bank 6.75% 6.75% 6.50% 6.50% 6.50% 6.50%
IDBI Bank 6.75% 6.50% 6.25% 6.25% 6.25% 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 6.85% 6.75% 6.50% 6.50% 6.50% 6.50%
J&K Bank 6.75% 6.75% 6.50% 6.25% 6.25% 6.25%
Karnataka Bank 6.85% 6.85% 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 6.80% 6.75% 6.60% 6.25% 6.25% 6.00%
Lakshmi Vilas Bank 7.00% 7.25% 7.00% 7.00% 7.00% 7.00%
Oriental Bank of Commerce 6.60% 6.40% 6.40% 6.40% 6.40% 6.40%
Post Office 5 Year FD 6.80% 6.90% 7.10% NA 7.60% NA
Punjab and Sind Bank 6.50% 6.50% 6.50% 6.50% 6.50% 6.50%
Punjab National Bank 6.60% 6.50% 6.50% 6.25% 6.25% 6.25%
Ratnakar Bank 7.10% 7.20% 7.20% 7.10% 7.10% 7.10%
Repco Bank 7.25% 7.00% 7.00% 7.00% 7.00% NA
South Indian Bank 6.75% 6.85% 6.50% 6.50% 6.50% 6.50%
Standard Charted Bank 6.75% 6.50% 6.50% 6.50% 6.50% NA
State Bank of India 6.25% 6.25% 6.00% 6.00% 6.00% 6.00%
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 6.50% 6.50% 6.40% 6.25% 6.25% 6.25%
Union Bank of India 6.75% 6.50% 6.50% 6.50% 6.50% 6.50%
United Bank of India 6.10% 6.00% 6.00% 6.00% 6.00% 6.00%
Vijaya Bank 6.50% 6.60% 6.50% 6.50% 6.50% 6.25%
Yes Bank 6.75% 6.75% 6.75% 6.75% 6.75% 6.75%


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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216 thoughts on “Highest Interest Rate on Bank Fixed Deposits (FD) – December 2017

  1. Dear Amit ,
    i am plan for rs 1000000 inwest in fd and save tex.any other option aveleble to ern profit in safe garrented mode of inwest,please sajes me.

  2. Hi sir,
    I am planning to FD 1000000 in karur vysya bank,, is it safe, can u suggest about bank

  3. Suryanarayana A says:

    Jeevan Akshya pension scheme intrest rate ..any proposal to reduce from sept 17 , i want to invest 50 L

  4. Is Ratnakar Bank reliable bank for investing in FD of rs 10lakhs

  5. is it safe to deposit 50,00,000 in RBL for FD?

  6. AU small finance bank is safe for FD.

    Which bank providing the highest rate of interest for 2 years & 6 months (2.6)

  7. Hi Amit,

    I am planning to invest around 10L for a year in FD. I have thought about IDFC Bank. Requesting your inputs or something else you would like to suggest. Thank you.

    -Amit

  8. If RBL is safe for 20 years term FD for 20 Lakhs ? as we know till 1 Lakh is safe against the insurance ? please advice

    • Yes RBL is private bank and quite safe. You can do fixed deposit with them for 20 years. Its just that you should keep you eyes/ears open for any bad news regarding the bank you put your money in.

  9. As the interest rate on PPF another cut down by 0.10% from 1 july, what will be the effect of this on fixed deposit interest rates?

  10. Hi, is Urban cooperative bank safe for fd.

  11. Sir,
    I am planning to FD 25 Lakhs. As I wanted to get fixed monthly income . So my question is .
    Q1- On FD , can we get monthly income as a interest ?
    Q2- Is it good to FD in once bank or shall I split my amount in multiple banks,
    Q3- Which is the safe bank to do the FD? And with good interest rate.

    Please clarify my doubt .

    • Here are your answers:
      1. Yes you can get monthly interest credited to your savings account
      2. You can keep all money in one bank if its government or large private bank. If co-operative bank I would advise to split
      3. All government/private banks are safe. Co-operative banks are riskier. Just keep eyes/ears open about whats happening with your bank.

  12. Suryoday bank is safe for deposit

  13. Manish Diwakar says:

    I am living in Patna…can I make a FD in Deutsche Bank either online or offline. As there is no branch of Deutsche Bank in Patna, Bihar.

  14. Navaneeth says:

    Dear sir,

    Is REPCO bank is safer for Fixed deposit?

  15. How can I save tax if In fd please mail me reply

    • You cannot save taxes on interest earned in FD. However you can invest in Debt mutual funds which are more tax efficient provided the investment tenure is for more than 3 years.

  16. SENTHILKUMAR R says:

    Very nice information. With this I understand post office is best than other Banks.

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