Ever since the Reserve Bank of India (RBI) increased its policy rates this year, banks have increased fixed deposit (FD) rates.
Fixed deposit interest rates vary from one bank to the other and are calculated based on the amount of liquid cash a bank has at any given point in time.
The highest FD rate is offered by Jana Small Finance Bank i.e. 8.50 percent for 366 days. This is followed by IDFC Bank and Deutsche Bank at 8.25 percent for a tenor of 3-10 years and 5 years respectively.
DCB offers an interest rate of 7.75 percent for a maturity period lying within 3 years and 5 years. Axis Bank provides FD at a rate of 7.45 percent for a maturity period within 17 months to 18 months. Bandhan Bank offers an interest rate of 7.40 percent for a tenor of 2 years to less than 5 years.
Here are banks offering more than 7 percent interest on your FDs.
|
|
| IDFC Bank | 7 days to 10 years | 4.00%-8.25% |
| Lakshmi Vilas Bank | 7 days to 20 months | 4.50%-7.50% |
| DCB Bank | 7 days to 10 years | 4.00%-7.75% |
| Ratnakar Bank | 7 days to 20 years | 5.00%-7.50% |
| Deutsche Bank | 1 year to 5 years | 7.50%-8.25% |
| Bandhan Bank | 7 days to 10 years | 3.50%-7.40% |
| Karur Vysya Bank | 7 days to above 3 years | 5.00%-7.00% |
| Tamil Mercantile Bank | 15 days to above 3 years | 5.00%-7.15% |
| Karnataka Bank | 7 days to 10 years | 3.50%-7.30% |
| HDFC Bank | 7 days to 10 years | 3.50%-7.25% |
| IndusInd Bank | 7 days to above 5 years | 3.50%-7.65% |
| Oriental Bank of Commerce | 7 days to 10 years | 5.75%-6.75% |
| Yes Bank | 7 days to 10 years | 5.00%-7.10% |
| Union Bank | 7 days to 10 years | 5.00%-6.85% |
| Axis Bank | 7 days to 10 years | 3.50%-7.45% |
| ICICI Bank | 7 days to 10 years | 4.00%-7.25% |
| IDBI Bank | 15 days to 20 years | 5.75%-6.85% |
| Kotak Mahindra Bank | 7 days to 10 years | 3.50%-7.30% |
| Vijaya Bank | 7 days to above 5 years | 5.00%-6.80% |
| Punjab National Bank | 7 days to 10 years | 5.70%-6.75% |
| Bank of Baroda | 7 days to 10 years | 4.25%-6.75% |
| State Bank of India | 7 days to 10 years | 5.75%-6.85% |
| Jana Small Finance Bank | 7 days to 10 years | 6.00%-8.50% |
| City Union Bank | 7 days to 10 years | 6.25%-7.10% |
First Published: Dec 17, 2018 8:53 PM IST
