Top Banks Providing Higher Fd Interest Rates
The FDs can be of tenure ranging from 7 Days to 20 Yr . The ROI for different schemes starts from 2.50% to 425.00 % for the general public and 3.00% to 6.50% for senior citizens. The min amount required to open a Fixed Deposit in such scheme is Rs.1,000
Name of Bank
For General Citizen (p.a.)
For Senior Citizen (p.a.)
2.50% to 425.00 %
3.00% to 6.50%
3.75% to 8.00 %
4.25% to 8.50%
5.25% to 7.90 %
5.75% to 7.90%
|Jana Small Finance Bank|
2.50% to 7.75 %
3.30% to 8.50%
3.25% to 7.25 %
3.75% to 7.50%
3.00% to 7.10 %
3.75% to 7.50%
2.25% to 7.00 %
2.75% to 7.50%
|IDFC FIRST Bank|
3.50% to 7.00 %
4.00% to 7.40%
1.80% to 7.00 %
2.75% to 7.00%
2.50% to 6.85 %
2.50% to 6.85%
Highest FD Interest Rates in India
The Fixed Deposits are a lucrative investment option for investors as they can park their savings in this scheme which guarantees assured returns and is eligible for tax exemptions. Fixed deposits are an instrument that provides an avenue for investors to safeguard their corpus from market volatility and inflation. Generally, all banks and financial institutions offer this savings and investment product. The RBL Bank’s highest FD interest rate ranges from 3.25% to 7.00% per annum.
However, it is to be noted that the interest rate offered is with respect to the tenure. A longer tenure tends to accentuate the interest amount. Additional interest rates are provided to senior citizens.
Types of Fixed Deposits
Banks and financial institutions offer the following types of fixed deposits to cater to the diverse requirements of investors. Investors can select one from the following types of fixed deposits offered:
When investors invest in a standard FD, they park their investment for a fixed term ranging from anywhere between 7 days to 10 years. The interest rate offered on the investment is more attractive when compared to a savings account. The investor is also eligible to avail of provisions such as Loan Against Property against the investment. A facility allows the investor to make a premature withdrawal from the deposit.
However, they would have to bear the penalty fees. The highest FD Interest rates on such deposits are around 6.5% per annum.
Under Section 80C of the Income Tax Act. The investor can avail of exemptions up to Rs 1.5 Lakhs. Although facilities such as loans against property, premature withdrawals are absent in such Fixed Deposits. The highest FD Interest rates on such deposits are around 6.75% per annum.
A Non-Cumulative fixed deposit ensures a regular source of income as the depositor collects the interest payout monthly, quarterly, or annually, as per their discretion. The highest FD Interest rates on such deposits are generally up to 8.25% per annum.
A depositor receives the interest accrued on the investment upon maturity. Such deposits allow the investor to stimulate their savings and leverage the compounded interest. The highest FD Interest rates on such deposits are generally up to 7.30% per annum.
As the name suggests, the Flexi FD was designed to cater to the diverse requirements of the depositor by providing flexibility. Such FDs possess the most revered features of both fixed deposits and savings accounts that the depositor can avail of for a convenient investment journey. The highest FD Interest rates on such deposits are generally up to 7.40% per annum.
Senior Citizen FD
The senior citizen FD is framed to provide an investment avenue for a senior citizen. The interest rate offered is also generally higher than that of a general citizen. The tenure of the FD ranges from 10 days to 10 years. The highest FD Interest rates on such deposits are generally up to 8.25% per annum.
How to Calculate Maturity Amount and Interest on Fixed Deposit?
Investors can compute the value of the investment with the assistance of a diverse set of FD calculators available online. These FD calculators are free and easy to use as they come with a straightforward interface. The user is required to mention the details such as the amount they are willing to deposit, the interest rate, and the tenure to compute the value of
Interest: This refers to the interest amount the investor is eligible to receive at maturity and the principal amount invested.
Maturity Amount: refers to the total amount the investor would receive on the investment. It is generally the sum of the principal and interest amount.
How to Choose the Best FD for You?
The investor shall assess the following to choose the Fixed deposit that compliments their financial and investment goals:
- The investor shall research the highest FD interest rates offered in the market to ensure substantial returns on their investment.
- Investors should also research the type of deposit in accordance with their investment objectives and select it.
- Investors should also assess the terms and conditions regarding the penalties in case of premature withdrawal.
Why Urban Money for Fixed Deposit Investment?
Urban money provides hassle-free financial and banking services to its customers with the assistance of sophisticated software solutions. Urban Money aims to provide a customer-friendly experience to its investors as they embark on their investment journey. Our services ensure that investors get the best interest rates on their Fixed deposit investments so they can conveniently attain their financial goals.
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Top Bank FD
Top Bank FD Schemes
Which FD gives the highest returns?
Fixed deposits are a lucrative investment scheme that offers assured returns. The interest amount varies from bank to bank, and the returns are often with respect to the tenure of the Fixed deposits.
Which bank has the highest interest rate for FD?
IDFC First Bank offers the highest FD interest rates, up to 6.5% per annum.
Which FD scheme is best?
The different types of FD schemes offered are designed to cater to the diverse needs of the customers. The customers should select the fixed deposit scheme that suits their investment objectives.
What is the minimum period for a fixed deposit?
The bank provides an avenue for the investor to park their funds for a tenure of seven days in case the value of the deposited amount exceeds 15 Lakhs.
What minimum amount can be deposited in an FD account?
The minimum amount to be deposited vary from bank to bank. Generally, one can establish an FD with a minimum deposit of Rs 1,000.
Am I eligible to invest in Fixed Deposit?
Any Indian citizen, NRI, partnership firm, society, or trust is eligible to invest in the fixed deposit scheme.
I get monthly interest on a fixed deposit?
In case the investor opts for a non-cumulative FD. They can receive their interest payout monthly.
What are the factors that affect FD interest rates?
The supply and demand of credit determine the interest rate. In case the demand for credit is high from the bank, the bank offers the highest FD interest rates to its customers and vice versa.