Compare the highest FD rates from top-rated banks and secure corporate deposits. Grow your wealth with peace of mind.
Last Updated: April 2024. Senior citizens usually get 0.50% extra.
| Bank Name | 1 Year | 2 Years | 3 Years | 5 Years |
|---|---|---|---|---|
| HDFC Bank | 6.60% | 7.10% | 7.00% | 7.00% |
| ICICI Bank | 6.70% | 7.05% | 7.00% | 7.00% |
| Axis Bank | 6.70% | 7.10% | 7.10% | 7.00% |
| State Bank of India (SBI) | 6.80% | 7.00% | 6.75% | 6.50% |
| Kotak Mahindra Bank | 7.10% | 7.15% | 7.00% | 6.20% |
| IndusInd Bank | 7.75% | 7.75% | 7.25% | 7.25% |
| IDFC First Bank | 7.50% | 7.75% | 7.25% | 7.00% |
| Yes Bank | 7.25% | 7.50% | 7.75% | 7.25% |
| *Rates mentioned are for deposits below ₹2 Crores. T&C Apply. | ||||
All fixed deposits in Indian scheduled commercial banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI.
In the unlikely event of a bank failure, your principal and interest are insured up to a maximum of ₹5 Lakh per bank.
Fixed Deposits are the bedrock of a stable financial portfolio. They offer predictability and are immune to stock market volatility.
Looking for higher returns? Explore AAA-rated corporate deposits from companies like Bajaj Finserv and HDFC, offering up to 8.5% p.a.
Invest in fixed-income securities that offer regular interest payouts and capital safety.
Sovereign guarantee with zero default risk. Perfect for very long-term goals like 15-30 years.
Lend to top companies. AAA and AA+ rated bonds offer a great balance of risk and higher yields than FDs.
The smartest way to buy gold. Get 2.5% p.a. fixed interest plus gold price appreciation, 100% tax-free on maturity.
Yes, most banks allow premature withdrawal. However, they usually charge a penalty of 0.5% to 1% on the interest rate applicable for the period the deposit remained with the bank.
Yes, the interest earned on FDs is fully taxable as per your income tax slab. Banks also deduct TDS (Tax Deducted at Source) at 10% if the annual interest exceeds ₹40,000 (₹50,000 for senior citizens).
It's a special type of FD with a mandatory 5-year lock-in period. It qualifies for a tax deduction of up to ₹1.5 Lakh under Section 80C. Note that premature withdrawal is NOT allowed for these deposits.
Cumulative: Interest is compounded and paid along with the principal at maturity.
Non-Cumulative: Interest is paid out at regular intervals (monthly, quarterly, etc.), providing a regular income stream.
Corporate FDs are not insured by DICGC. Therefore, you should only invest in companies with high credit ratings (AAA or AA+) from agencies like CRISIL, ICRA, or CARE.