Home Business and Finance Banks with the Highest Interest rate on FD in India Currently – July 2020

Banks with the Highest Interest rate on FD in India Currently – July 2020

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Banks with the Highest Interest rate on FD  in India Currently – July 2020

We all want to secure our financial future and with various options, it becomes extremely critical in deciding where to park our money for handsome returns. Although we all have different options for investing our money like in Direct Equity, Mutual Funds, NPS, Public Provident Fund, FD, Real Estate, Gold, and among all the options, Bank Fixed Deposit (FD) remains one of the top preferred choices.

Bank Fixed Deposits involve much lower risk and the returns are also guaranteed. Let us look at some of the Advantages and Disadvantages of Having a Fixed Deposit Account.

Advantages of Having a Fixed Deposit Account:
  • Returns are Assured
  • Provide Flexibility in deciding Deposit Tenure
  • Rate of Returns
  • Less Volatility
  • Help in Liability Crunch
  • Quick Withdrawal
Disadvantages of Having a Fixed Deposit Account:
  • Funds are Locked
  • Penalties on withdrawal before the maturity period
  • Relatively low ROI
  • Fixed Interest Rate

Different banks in India offer interest rates on FD (Fixed Deposit) and going on each of the bank’s website to check their interest rate can be very tedious. This is why in this post, we have compared all the major banks which are offering the best Interest rate on FD in India.


Highest Interest rate on FD — July 2020

Last Updated on July 1, 2020


Highest Interest rate on FD by Tenure Period
Tenure Period12345
1 YearIDFC First Bank
(7.25)
RBL Bank
(7.20%)
Indusind Bank
(7.00%)
Ujjivan Small Finance Bank
(6.95%)
DCB Bank
(6.75%)
2 YearsIDFC First Bank
(7.25)
RBL Bank
(7.25%)
DCB Bank
(7.20%)
Indusind Bank
(7.00%)
AU Small Finance Bank
(7.00%)
3 YearsRBL Bank
(7.50%)
DCB Bank
(7.35%)
IDFC First Bank
(7.25%)
AU Small Finance Bank
(7.25%)
Indusind Bank
(6.75%)
5 YearsDCB Bank
(7.35%)
IDFC First Bank
(7.25%)
RBL Bank
(7.15%)
AU Small Finance Bank
(7.00%)
Indusind Bank
(6.75%)

Highest Interest rate on FD by Top Banks of India (Regular Citizens)
Bank1 Year3 Year5 Year
IndusInd Bank7.00%6.75%6.75%
DCB Bank6.75%7.35%7.35%
Kotak Mahindra Bank5.25%4.90%4.75%
Yes Bank7.00%7.00%7.00%
ICICI Bank5.55%5.75%5.75%
HDFC Bank5.25%5.35%5.50%
SBI5.10%5.30%5.40%
RBL Bank7.20%7.50%7.15%
Axis Bank5.80%5.75%5.75%
DBS5.15%5.35%5.50%
IDFC First Bank7.25%7.25%7.25%
Bandhan Bank6.25%6.10%6.00%
Canara Bank5.50%5.45%5.45%
Federal Bank6.00%6.25%6.25%
Oriental Bank of Commerce5.50%5.50%5.40%
Bank of Baroda5.70%5.70%5.70%

Highest Interest rate on FD by Retail Banks in India
BankIR for Regular IndividualsIR for Senior CitizensDeposit Tenure
DCB Bank 7.35%7.85%36 Months to 120 Months
IDFC First Bank 7.25%8.00%1 Year to 10 Years
Yes Bank7.25%7.75%1 Year to less than 10 Years
RBL Bank7.50%8.00%36 months to 36 months 1 day
IndusInd Bank7.00%7.50%1 Year to below 3 Years

Highest Interest rate on FD by Small Finance Banks in India
BankIR for Regular IndividualsIR for Senior CitizensDeposit Tenure
Fincare Small Finance Bank7.60%8.10%36 Months 1 Day to 42 Months
Suryodaya Small Finance Bank9.00%9.25%5 Years
Jana Small Finance Bank8.00%8.50%2 to 3 Years
Utkarsh Small Finance Bank9.00%9.50%777 Days
Equitas Small Finance Bank7.35%7.90%888 Days
Ujjivan Small Finance Bank6.95%7.45%1 Year to 2 Years

Calculate returns on your FD using this FD Calculator.

Disclaimer: The data/information provided above is subject to change from time to time therefore before taking any decision based on it, please contact the respective bank/institution concerned.

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