Bank FD Rates In India 2017 | Latest Bank Fixed Deposit Rates

Bank FD Rates In India

Compare Bank FD Rates in India 2017 on the basis of tenure period, so that you can easily estimate which is most suitable for you. We have listed Latest Bank Fixed Deposit Rates in this article so, Have a glance on the below section.

Most of the banks offers fixed deposit scheme for the fix tenures, ranges between short as seven days and long as 10 years whereas few banks like as State Bank of Patiala, IDBI Bank, Ratnakar Bank provide FDs for tenure of 20 years. Fixed deposit provides more interest rate rather than Savings Account. Interest rate depends on the tenure of FDs.

If you invest in fixed deposit, you can obtain overdraft and loan facilities from the bank against the amount in your fixed deposit accounts. Generally 0.5% or 1% interest rate is charged for loans or overdraft. If you earn more than income Rs.10,000 in the financial year from FD, you may claim tax deduction of 10% rate.

Interest Rate For FD Of Less Than 1 Year

Bank Description Interest Rate
The Ratnakar Bank 241 days to 364 days 7.50%
Karnataka Bank 181 days to 364 days 7.20%
Karnataka Bank 180 days 7.15%
The Ratnakar Bank 181 days to 240 days 7.15%
Union Bank of India 181 day to less than 1 Year 7.05%
Bandhan Bank 6 months to less than 1 Year 7.00%
City Union Bank 181 days to 364 days 7.00%
Dena Bank 271 days to 364 days 7.00%
IDFC Bank 181 – 365 days 7.00%
J&K Bank 181 days to less than 1 year 7.00%
Repco Bank 90 days – 364 days 7.00%
State Bank of Mysore 211 days to less than 1 year 7.00%
State Bank of Patiala 211 days to less than 1 year 7.00%
State Bank of Travancore 211 days to less than 1 year 7.00%
The Ratnakar Bank 91 days to 180 days 7.00%
Yes Bank 9 months to < 1 Year 7.00%
State Bank of India Government Bank Benchmark 5.50% – 7.00%
ICICI Bank Private Bank Benchmark 4.00% – 6.50%

Check Also – Current Account VS Savings Account

Interest Rate For Fixed Deposit Of 1 – 2 Years

Bank Description Interest Rate
Bandhan Bank 1 Year 8.00%
The Ratnakar Bank 24 months to less than 36 months 7.85%
The Ratnakar Bank 12 months to less than 24 months 7.75%
Repco Bank Repco Mahila (18 Months, Exclusively for Women) 7.60%
IDFC Bank 366 days 7.50%
Repco Bank 1 Year & Above 2 years 7.50%
IDFC Bank 367 – 540 days 7.25%
J&K Bank 1 year to less than 3 years 7.25%
Karnataka Bank 1 year to 2 years 7.25%
Standard Charted Bank 1 year – 390 days 7.25%
State Bank of Bikaner and Jaipur 1 Year to 455 Days 7.25%
Union Bank of India 1 year to 10 Years 7.25%
Canara Bank 444/555 Days (Canara Shikhar Deposit Scheme) 7.15%
Indus Ind Bank 1 Year to below 2 year 6 months 7.15%
Canara Bank Above 1 year to less than 2 years 7.10%
City Union Bank 1 year 7.10%
DCB Bank 18 months to less than 24 months 7.10%
Punjab and Sind Bank 1 Year – 2 Year 7.10%
State Bank of Bikaner and Jaipur 456 Days to less than 2 Years 7.10%
Yes Bank 1 Years to <= 10 years 7.10%
State Bank of India Government Bank Benchmark 6.90% – 6.95%
ICICI Bank Private Bank Benchmark 6.90% – 7.00%
Post Office FD (1 year) Post Office 7.00%
Post Office FD (2 years) Post Office 7.10%

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Interest Rate For Fixed Deposit Of 2 – 5 Years

Bank Description Interest Rate
Deutsche Bank 5 Years 7.75%
The Ratnakar Bank 36 months to less than 240 months 7.70%
Bandhan Bank Above 1Year to less than 3 years 7.50%
Canara Bank 2 years & above to less than 5 years 7.25%
Dena Bank 2 years to less than 5 years 7.25%
IDFC Bank 541 – 731 days 7.25%
J&K Bank 1 year to less than 3 years 7.25%
Repco Bank Above 2 years – 5 Years 7.25%
State Bank of Bikaner and Jaipur 2 years to less than 3 years 7.25%
Union Bank of India 1 year to 10 Years 7.25%
DCB Bank 24 months to 36 months 7.20%
IDFC Bank 732 – 1095 days 7.20%
IDFC Bank 3 years 1days – 10 years 7.20%
J&K Bank 3 years to less than 5 years 7.10%
Yes Bank 1 Years to <= 10 years 7.10%
State Bank of India Government Bank Benchmark 6.50% – 6.85%
ICICI Bank Private Bank Benchmark 6.75%
Post Office FD (2 years) Post Office 7.10%
Post Office FD (3 years) Post Office 7.30%
Post Office FD (5 years) Post Office 7.80%

Interest Rate For Fixed Deposit Of 5 – 10 Years

Bank Description Interest Rate
The Ratnakar Bank 36 months to less than 240 months 7.70%
Union Bank of India 1 year to 10 Years 7.25%
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%
Bandhan Bank 3 years to less than 10 years 7.00%
Canara Bank 5 years & above to less than 10 years 7.00%
Dena Bank 5 years to less than 10 years 7.00%
Federal Bank Above 1 Year 7.00%
Indus Ind Bank 2 year 6 months and above 7.00%
J&K Bank 5 years to 10 years 7.00%
Karnataka Bank Above 2 Years to 10 years 7.00%
Karur Vysya Bank 3 years and above 7.00%
Lakshmi Vilas Bank 5 years to 10 years 7.00%
Punjab and Sind Bank >5 Years – 10 Years 7.00%
South Indian Bank Above 3 years up to and incl.10 years 7.00%
Tamilnad Mercantile Bank Ltd Above 3 Years 7.00%
State Bank of India Government Bank Benchmark 6.50%
ICICI Bank Private Bank Benchmark 6.50%

Know About – 6 Benefits Of Opening A Current Account

Interest Rate For Fixed Deposit Of More Than 10 Years

Bank Description Interest Rate
The Ratnakar Bank 36 months to less than 240 months 7.70%
State Bank of Patiala 18 years (for girl child only) 7.00%
IDBI Bank 5 Years to 20 Years 6.75%

FD Interest Rates For Senior Citizens

Fixed deposit is the safest investment option rather than other conventional modes of investment. FDs also contains fix lock-in period so the applier can choose long term savings investment option or short term investment as per his/ her requirements. The minimum tenure is allowed 7 days and maximum is allowed 10 years. It is most suitable options for senior citizen as their income is limited and it is risk free investment option. The FDs rates for senior citizen major banks are mentioned in following table.

Fixed Deposits with Bank Tenure (Min-Max) Senior Citizen FD Rates
State Bank of India 7 -10 years 5.50% – 7.75%
Indian Post Office 1 -5 years 7.10% -7.90%
HDFC Bank 7 -10 years 4.00% – 8.00%
ICICI Bank 7 -10 years 4.50% -8.00%
Axis Bank 7 -10 years 3.50% -8.00%
Punjab National Bank 7 -10 years 4.75% -8.00%
Bank of India 7 -10 years 4.50% -7.80%
Canara Bank 7 -10 years 5.75% -8.05%
Indian Bank 7 -More than 3 years 5.00% -7.75%
Bank of Baroda 7 -10 years 5.00% -7.80%

Looking for a risk free investment option, fixed deposit is most suitable for you as it offers high interest rate on comparing general saving account. User needs to decide fixed tenure period for particular FD then pay monthly payouts till the completion of maturity of fixed deposit. Then he or she may earn lump sum amount in addition to interest. According to Trading Economics global macro models the interest rate is expected to be 6.00 percent.

 

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