{"id":11081,"date":"2023-05-04T17:20:31","date_gmt":"2023-05-04T11:50:31","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=11081"},"modified":"2023-05-04T19:43:28","modified_gmt":"2023-05-04T14:13:28","slug":"best-fixed-deposit-interest-rates-in-india","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/","title":{"rendered":"Best Fixed Deposit Rates &#8211; May 2023 Updated"},"content":{"rendered":"\n<p>Fixed Deposits (FD) &#8211; One of the safest and oldest investment options when it comes to saving money. They are known to offer assured returns and capital appreciation and can be considered as an additional source of income. But, there are various fixed deposits offered by several financial institutions. Let\u2019s look at the top fixed deposit interest rates offered by various banks and NBFCs, along with tax-saving fixed deposits.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Overview-of-fixed-deposits\" title=\"Overview of fixed deposits\">Overview of fixed deposits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Highest-fixed-deposit-interest-rates-by-top-Indian-private-sector-banks\" title=\"Highest fixed deposit interest rates by top Indian private sector banks\">Highest fixed deposit interest rates by top Indian private sector banks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Highest-fixed-deposit-interest-rates-by-top-Indian-public-sectornationalised-banks\" title=\"Highest fixed deposit interest rates by top Indian public sector\/nationalised banks\">Highest fixed deposit interest rates by top Indian public sector\/nationalised banks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Tax-saver-fixed-deposit-interest-rates\" title=\"Tax saver fixed deposit interest rates\">Tax saver fixed deposit interest rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Top-small-finance-banks-offering-the-highest-fixed-deposit-interest-rates\" title=\"Top small finance banks offering the highest fixed deposit interest rates\">Top small finance banks offering the highest fixed deposit interest rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Top-foreign-banks-FD-interest-rates\" title=\"Top foreign banks FD interest rates\">Top foreign banks FD interest rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Best-senior-citizen-fixed-deposit-interest-rates\" title=\"Best senior citizen fixed deposit interest rates\">Best senior citizen fixed deposit interest rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#To-conclude\" title=\"To conclude\">To conclude<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Can-NRIs-invest-in-fixed-deposits-in-India\" title=\"Can NRIs invest in fixed deposits in India?\">Can NRIs invest in fixed deposits in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Is-premature-withdrawal-allowed-for-fixed-deposits\" title=\"Is premature withdrawal allowed for fixed deposits?\">Is premature withdrawal allowed for fixed deposits?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.tickertape.in\/blog\/best-fixed-deposit-interest-rates-in-india\/#Which-bank-has-the-highest-interest-rate-for-fixed-deposits\" title=\"Which bank has the highest interest rate for fixed deposits?\">Which bank has the highest interest rate for fixed deposits?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Overview-of-fixed-deposits\"><\/span>Overview of fixed deposits<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>What is a fixed deposit?<\/strong><\/td><td>An investment instrument where a large sum of money is deposited for a fixed tenure at a pre-determined <a href=\"https:\/\/www.tickertape.in\/blog\/flat-interest-rate-vs-reducing-balance-interest-rate\/\">interest rate<\/a>.<\/td><\/tr><tr><td><strong>Who offers FDs??<\/strong><\/td><td>All banks and NBFCs<\/td><\/tr><tr><td><strong>Types of FDs<\/strong><\/td><td>&#8211; Corporate&nbsp;<br>&#8211; Standard<br>&#8211; Senior citizen<br>&#8211; Tax-saving<br>&#8211; Cumulative<br>&#8211; Non-cumulative<br>&#8211; Flexi-fixed<\/td><\/tr><tr><td><strong>Who can apply?<\/strong><\/td><td>One should be an Indian and over 18 yrs of age. They can be &#8211; <br>&#8211; Residents<br>&#8211; Hindu Undivided Families<br>&#8211; Sole Proprietorship Firms<br>&#8211; Partnership Firms<br>&#8211; Limited Companies<br>&#8211; Trust Accounts<\/td><\/tr><tr><td><strong>Risk&nbsp;<\/strong><\/td><td>Low risk as it is governed by RBI<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Highest-fixed-deposit-interest-rates-by-top-Indian-private-sector-banks\"><\/span>Highest fixed deposit interest rates by top Indian private sector banks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S. No.<\/strong><\/td><td><strong>Bank<\/strong><\/td><td><strong>Interest rates (%)<\/strong><\/td><td><strong>Tenure plan<\/strong><\/td><\/tr><tr><td><strong>1<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/bandhan-bank-BANH?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Bandhan Bank<\/strong><\/a><\/td><td><strong>8.00<\/strong><\/td><td><strong>600 days (1 yr 7 months 23 days)<\/strong><\/td><\/tr><tr><td><strong>2<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/indusind-bank-INBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IndusInd Bank<\/strong><\/a><\/td><td><strong>7.75<\/strong><\/td><td><strong>2 yrs 6 months to below 2 yrs 9 months<\/strong><\/td><\/tr><tr><td><strong>3<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/yes-bank-YESB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Yes Bank<\/strong><\/a><\/td><td><strong>7.75<\/strong><\/td><td><strong>18 Month to less than 36 Months<\/strong><\/td><\/tr><tr><td><strong>4<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/dcb-bank-DCBA?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>DCB Bank<\/strong><\/a><\/td><td><strong>7.60<\/strong><\/td><td><strong>More than 60 months to 120 months<\/strong><\/td><\/tr><tr><td><strong>5<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/rbl-bank-RATB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ratnakar Bank (RBL Bank)<\/strong><\/a><\/td><td><strong>7.00<\/strong><\/td><td><strong>24 months to less than 36 months<\/strong><\/td><\/tr><tr><td><strong>6<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/idfc-first-bank-IDFB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IDFC Bank<\/strong><\/a><\/td><td><strong>7.00<\/strong><\/td><td><strong>3 yrs 1 day to 5 yrs<\/strong><\/td><\/tr><tr><td><strong>7<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/icici-bank-ICBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>ICICI Bank<\/strong><\/a><\/td><td><strong>7.00<\/strong><\/td><td><strong>3 yrs 1 day to 5 yrs<\/strong><\/td><\/tr><tr><td><strong>8<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/axis-bank-AXBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Axis Bank<\/strong><\/a><\/td><td><strong>7.00<\/strong><\/td><td><strong>5 yrs to 10 yrs<\/strong><\/td><\/tr><tr><td><strong>9<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/hdfc-bank-HDBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>HDFC Bank<\/strong><\/a><\/td><td><strong>7.00<\/strong><\/td><td><strong>3 yrs 1 day to 5 yrs<\/strong><\/td><\/tr><tr><td><strong>10<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/federal-bank-FED?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Federal Bank<\/strong><\/a><\/td><td><strong>6.60<\/strong><\/td><td><strong>2222 days (6 yr 1 month)<\/strong><\/td><\/tr><tr><td><strong>11<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/karur-vysya-bank-KARU?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Karur Vyasa Bank<\/strong><\/a><\/td><td><strong>6.25<\/strong><\/td><td><strong>5 yrs and up to 6 yrs<\/strong><\/td><\/tr><tr><td><strong>12<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/kotak-mahindra-bank-KTKM?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Kotak Mahindra Bank<\/strong><\/a><\/td><td><strong>6.20<\/strong><\/td><td><strong>5 yrs and above up to and inclusive of 10 yrs<\/strong><\/td><\/tr><tr><td><strong>13<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/south-indian-bank-SIBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>South Indian Bank<\/strong><\/a><\/td><td><strong>6.00<\/strong><\/td><td><strong>5 yrs to up to and including 10 yrs<\/strong><\/td><\/tr><tr><td><strong>14<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/csb-bank-CSBB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Catholic Syrian Bank<\/strong><\/a><\/td><td><strong>6.00<\/strong><\/td><td><strong>Above 5 yrs to 10 yrs<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><em>Note: The list above is for investments less than Rs. 2 cr. and is dated 4th May 2023.<\/em> <em>It is taken from the respective bank\u2019s website, and the rates are subject to change at the discretion of the bank.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Highest-fixed-deposit-interest-rates-by-top-Indian-public-sectornationalised-banks\"><\/span>Highest fixed deposit interest rates by top Indian public sector\/nationalised banks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S. No.<\/strong><\/td><td><strong>Bank<\/strong><\/td><td><strong>Interest rate (%)<\/strong><\/td><td><strong>Tenure<\/strong><\/td><\/tr><tr><td><strong>1<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/canara-bank-CNBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Canara Bank<\/strong><\/a><strong> &#8211; Non- Callable<\/strong><\/td><td><strong>7.10<\/strong><\/td><td><strong>2 yrs and above to less than 3 yrs<\/strong><\/td><\/tr><tr><td><strong>2<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/canara-bank-CNBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Canara Bank<\/strong><\/a><strong> &#8211; Callable<\/strong><\/td><td><strong>6.85<\/strong><\/td><td><strong>2 yrs and above to less than 3 yrs<\/strong><\/td><\/tr><tr><td><strong>3<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/bank-of-baroda-BOB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Bank of Baroda<\/strong><\/a><\/td><td><strong>6.75<\/strong><\/td><td><strong>1 yr<\/strong><\/td><\/tr><tr><td><strong>4<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/bank-of-maharashtra-BMBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Bank of Maharashtra<\/strong><\/a><\/td><td><strong>6.75<\/strong><\/td><td><strong>400 days (1 yr 1 month 4 days)<\/strong><\/td><\/tr><tr><td><strong>5<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/union-bank-of-india-UNBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Union Bank of India<\/strong><\/a><\/td><td><strong>6.70<\/strong><\/td><td><strong>Above 5 yrs to 10 yrs<\/strong><\/td><\/tr><tr><td><strong>6<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/state-bank-of-india-SBI?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>State Bank of India (SBI)<\/strong><\/a><\/td><td><strong>6.50<\/strong><\/td><td><strong>5 yrs and up to 10 yrs<\/strong><\/td><\/tr><tr><td><strong>7<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/punjab-national-bank-PNBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Punjab National Bank<\/strong><\/a><\/td><td><strong>6.50<\/strong><\/td><td><strong>Above 5 yrs to 10 yrs<\/strong><\/td><\/tr><tr><td><strong>8<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/indian-bank-INBA?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Bank<\/strong><\/a><\/td><td><strong>6.25<\/strong><\/td><td><strong>5 yrs<\/strong><\/td><\/tr><tr><td><strong>9<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/idbi-bank-IDBI?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IDBI Bank<\/strong><\/a><\/td><td><strong>6.25<\/strong><\/td><td><strong>Above 5 yrs to 7 yrs<\/strong><\/td><\/tr><tr><td><strong>10<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/central-bank-of-india-CBI?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Central Bank of India<\/strong><\/a><\/td><td><strong>6.25<\/strong><\/td><td><strong>5 yrs and above up to 10 yrs<\/strong><\/td><\/tr><tr><td><strong>11<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/uco-bank-UCBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>UCO Bank<\/strong><\/a><\/td><td><strong>6.20<\/strong><\/td><td><strong>Above 3 yrs to less than 5 yrs<\/strong><\/td><\/tr><tr><td><strong>12<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/bank-of-india-BOI?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Bank of India<\/strong><\/a><\/td><td><strong>6.00<\/strong><\/td><td><strong>1 yr to less than 2 yrs<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><em>Note: The list above is for investments less than Rs. 2 cr. and is dated 4th May 2023. It is taken from the respective bank\u2019s website, and the rates are subject to change at the discretion of the bank.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax-saver-fixed-deposit-interest-rates\"><\/span>Tax saver fixed deposit interest rates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S. No.<\/strong><\/td><td><strong>Bank<\/strong><\/td><td><strong>Type<\/strong><\/td><td><strong>Interest rate (%)<\/strong><\/td><td><strong>Tenure<\/strong><\/td><\/tr><tr><td><strong>1<\/strong><\/td><td><strong>Deutsche Bank<\/strong><\/td><td><strong>Foreign Banks<\/strong><\/td><td><strong>7.25<\/strong><\/td><td><strong>5 yrs<\/strong><\/td><\/tr><tr><td><strong>2<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/indusind-bank-INBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IndusInd Bank<\/strong><\/a><\/td><td><strong>Indian Private Sector Banks<\/strong><\/td><td><strong>7.25<\/strong><\/td><td><strong>5 yrs<\/strong><\/td><\/tr><tr><td><strong>3<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/rbl-bank-RATB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ratnakar Bank (RBL Bank)<\/strong><\/a><\/td><td><strong>Indian Private Sector Banks<\/strong><\/td><td><strong>7<\/strong><\/td><td><strong>60 months<\/strong><\/td><\/tr><tr><td><strong>4<\/strong><\/td><td><strong>Shamrao Vithal Co-operative Bank<\/strong><\/td><td><strong>Cooperative Banks<\/strong><\/td><td><strong>7<\/strong><\/td><td><strong>5 yrs<\/strong><\/td><\/tr><tr><td><strong>5<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/icici-bank-ICBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>ICICI Bank<\/strong><\/a><\/td><td><strong>Indian Private Sector Banks<\/strong><\/td><td><strong>7<\/strong><\/td><td><strong>5 yrs<\/strong><\/td><\/tr><tr><td><strong>6<\/strong><\/td><td><strong>Bharat Co-operative Bank<\/strong><\/td><td><strong>Cooperative Banks<\/strong><\/td><td><strong>6.75<\/strong><\/td><td><strong>5 yrs<\/strong><\/td><\/tr><tr><td><strong>7<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/punjab-national-bank-PNBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Punjab National Bank<\/strong><\/a><\/td><td><strong>Public Sector \/ Nationalized Banks<\/strong><\/td><td><strong>6.5<\/strong><\/td><td><strong>5 yrs to 10 yrs<\/strong><\/td><\/tr><tr><td><strong>8<\/strong><\/td><td><strong>Janakalyan Sahakari Bank<\/strong><\/td><td><strong>Indian Private Sector Banks<\/strong><\/td><td><strong>5.75<\/strong><\/td><td><strong>60 months<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><em>Note: The data is dated 4th May 2023<\/em>. <em>It is taken from the respective bank\u2019s website, and the rates are subject to change at the discretion of the bank.<\/em><\/p>\n\n\n\n<p>A tax-saving fixed deposit helps you get tax deductions under Section 80C of the <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-income-tax\/\">Income Tax<\/a> Act, 1961. The returns are assured in tax-saving fixed deposits upon maturity. You can claim the tax-deductions of up to Rs. 1.5 lakh.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Top-small-finance-banks-offering-the-highest-fixed-deposit-interest-rates\"><\/span>Top small finance banks offering the highest fixed deposit interest rates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S. No.<\/strong><\/td><td><strong>Bank<\/strong><\/td><td><strong>Interest rate<\/strong><\/td><td><strong>Tenure<\/strong><\/td><\/tr><tr><td><strong>1<\/strong><\/td><td><strong>Unity Small Finance Bank<\/strong><\/td><td><strong>9<\/strong><\/td><td><strong>1001 Days (2 yrs, 8 months, 28 days)<\/strong><\/td><\/tr><tr><td><strong>2<\/strong><\/td><td><strong>ESAF Small Finance Bank<\/strong><\/td><td><strong>8.5<\/strong><\/td><td><strong>2 yrs to less than 3 yrs<\/strong><\/td><\/tr><tr><td><strong>3<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/suryoday-small-finance-bank-SURYO?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Suryoday Small Finance Bank<\/strong><\/a><\/td><td><strong>8.01<\/strong><\/td><td><strong>Above 1 yr 6 months to 2 yrs<\/strong><\/td><\/tr><tr><td><strong>4<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/ujjivan-small-finance-bank-UJJI?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ujjivan Small Finance Bank<\/strong><\/a><\/td><td><strong>8<\/strong><\/td><td><strong>13 Months 1 day to 559 days<\/strong><\/td><\/tr><tr><td><strong>5<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/equitas-small-finance-bank-EQU?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Equitas Small Finance Bank<\/strong><\/a><\/td><td><strong>7.75<\/strong><\/td><td><strong>18 months 1 day to 2 yrs<\/strong><\/td><\/tr><tr><td><strong>6<\/strong><\/td><td><strong>North East Small Finance Bank<\/strong><\/td><td><strong>7.5<\/strong><\/td><td><strong>777 days (1 yr 1 day to 2 yrs 1 month 15 days)<\/strong><\/td><\/tr><tr><td><strong>7<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/au-small-finance-bank-AUFI?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>AU Small Finance Bank<\/strong><\/a><\/td><td><strong>7.5<\/strong><\/td><td><strong>18 Months 1 Day to 24 Months<\/strong><\/td><\/tr><tr><td><strong>8<\/strong><\/td><td><strong>Jana Small Finance Bank<\/strong><\/td><td><strong>7.25<\/strong><\/td><td><strong>1 yr to 499 Days<\/strong><\/td><\/tr><tr><td><strong>9<\/strong><\/td><td><strong>Capital Small Finance Bank<\/strong><\/td><td><strong>7.15<\/strong><\/td><td><strong>1 yr to less than 5 yrs<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><em>Note: The data is of 4th May 2023 and for deposits up to Rs. 2 cr.<\/em> <em>The data is taken from the respective bank\u2019s website, and the rates are subject to change at the discretion of the bank.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Top-foreign-banks-FD-interest-rates\"><\/span>Top foreign banks FD interest rates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S. No.<\/strong><\/td><td><strong>Bank<\/strong><\/td><td><strong>Interest rate<\/strong><\/td><td><strong>Tenure<\/strong><\/td><\/tr><tr><td><strong>1<\/strong><\/td><td><strong>HSBC<\/strong><\/td><td>7.5<\/td><td>732 days to less than 36 months (2 yrs 2 days to less than 3 yrs)<\/td><\/tr><tr><td><strong>2<\/strong><\/td><td><strong>Deutsche Bank<\/strong><\/td><td>7.25<\/td><td>5 yrs<\/td><\/tr><tr><td><strong>3<\/strong><\/td><td><strong><a href=\"https:\/\/www.tickertape.in\/blog\/citibank-writes-history\/\">Citi<\/a> Bank*<\/strong><\/td><td>7<\/td><td>3 yrs to less than 5 yrs<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>*Citi India has transferred ownership of its consumer business to Axis Bank, with effect from 1st March 2023.&nbsp;<\/p>\n\n\n\n<p><strong><em>Note: The data is from 4th May 2023 and for deposits up to Rs. 2 cr.<\/em><\/strong><strong> <\/strong><strong><em>It is taken from the respective bank\u2019s website, and the rates are subject to change at the discretion of the bank.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Best-senior-citizen-fixed-deposit-interest-rates\"><\/span>Best senior citizen fixed deposit interest rates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some leading banks in India offer special interest rates on fixed deposits for individuals over the age of 60. These fixed deposits offer senior citizens a wide range of benefits and help them get a steady and reliable income stream in their post-retirement years.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S. No.<\/strong><\/td><td><strong>Bank<\/strong><\/td><td><strong>Type<\/strong><\/td><td><strong>Interest rate (%)<\/strong><\/td><td><strong>Tenure<\/strong><\/td><\/tr><tr><td><strong>1<\/strong><\/td><td><strong>Bandhan Bank<\/strong><\/td><td><strong>Indian Private Sector Bank<\/strong><\/td><td><strong>8.5<\/strong><\/td><td><strong>600 days (1 yr 7 months 23 days)<\/strong><\/td><\/tr><tr><td><strong>2<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/indusind-bank-INBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IndusInd Bank<\/strong><\/a><\/td><td><strong>Indian Private Sector Bank<\/strong><\/td><td><strong>8.25<\/strong><\/td><td><strong>2 years 6 Months to below 2 years 9 Months<\/strong><\/td><\/tr><tr><td><strong>3<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/yes-bank-YESB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Yes Bank<\/strong><\/a><\/td><td><strong>Indian Private Sector Bank<\/strong><\/td><td><strong>8.25<\/strong><\/td><td><strong>18 Month to less than 36 Months<\/strong><\/td><\/tr><tr><td><strong>4<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/dcb-bank-DCBA?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>DCB Bank<\/strong><\/a><\/td><td><strong>Indian Private Sector Bank<\/strong><\/td><td><strong>8.1<\/strong><\/td><td><strong>More than 60 months to 120 months<\/strong><\/td><\/tr><tr><td><strong>5<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/icici-bank-ICBK?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>ICICI Bank<\/strong><\/a><\/td><td><strong>Indian Private Sector Banks<\/strong><\/td><td><strong>7.5<\/strong><\/td><td><strong>3 years 1 day to 5 years<\/strong><\/td><\/tr><tr><td><strong>6<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/rbl-bank-RATB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ratnakar Bank (RBL Bank)<\/strong><\/a><\/td><td><strong>Indian Private Sector Bank<\/strong><\/td><td><strong>7.5<\/strong><\/td><td><strong>24 months to less than 36 months<\/strong><\/td><\/tr><tr><td><strong>7<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/idfc-first-bank-IDFB?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IDFC Bank<\/strong><\/a><\/td><td><strong>Indian Private Sector Bank<\/strong><\/td><td><strong>7.5<\/strong><\/td><td><strong>3 yrs, 1 day to 5 yrs<\/strong><\/td><\/tr><tr><td><strong>8<\/strong><\/td><td><strong>Bharat Co-operative Bank<\/strong><\/td><td><strong>Cooperative Bank<\/strong><\/td><td><strong>7.25<\/strong><\/td><td><strong>Above 5 yrs<\/strong><\/td><\/tr><tr><td><strong>9<\/strong><\/td><td><strong>Deutsche Bank<\/strong><\/td><td><strong>Foreign Bank<\/strong><\/td><td><strong>7.25<\/strong><\/td><td><strong>5 yrs<\/strong><\/td><\/tr><tr><td><strong>10<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/federal-bank-FED?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Federal Bank<\/strong><\/a><\/td><td><strong>Indian Private Sector Bank<\/strong><\/td><td><strong>7.25<\/strong><\/td><td><strong>2222 Days (6 yr 1 month)<\/strong><\/td><\/tr><tr><td><strong>11<\/strong><\/td><td><a href=\"https:\/\/www.tickertape.in\/stocks\/idbi-bank-IDBI?checklist=pro&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IDBI Bank<\/strong><\/a><\/td><td><strong>Public Sector \/ Nationalized Bank<\/strong><\/td><td><strong>6.75<\/strong><\/td><td><strong>Above 5 yrs to 7 yrs<\/strong><\/td><\/tr><tr><td><strong>12<\/strong><\/td><td><strong>Thane Janata Sahakari Bank<\/strong><\/td><td><strong>Cooperative Bank<\/strong><\/td><td><strong>6.75*<\/strong><\/td><td><strong>Above 60 months to 120 months<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong><em>*For deposits less than Rs. 15 lakh.<\/em><\/strong><\/p>\n\n\n\n<p><strong><em>Note: The data is dated 4th May 2023, and all the fixed deposits mentioned are tax-saving and available for investments up to Rs. 1 lakh. The data is taken from the respective bank\u2019s website, and the rates are subject to change at the discretion of the bank.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"To-conclude\"><\/span>To conclude<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A fixed deposit is one of the best choices if you have a large amount of money readily available to <a href=\"https:\/\/www.tickertape.in\/blog\/why-should-you-prioritise-investing\/\">invest<\/a>. You can also get a loan against your fixed deposits if you have a low <a href=\"https:\/\/www.tickertape.in\/blog\/get-an-instant-loan-without-credit-score\/\">credit score<\/a> if you do not meet the income eligibility criteria, or if you have no other assets to apply for a secured loan. However, before investing in any fixed deposit, it is worthwhile to consult your financial advisor and invest according to your financial plan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1683208727481\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Can-NRIs-invest-in-fixed-deposits-in-India\"><\/span><strong>Can NRIs invest in fixed deposits in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes, NRIs can open fixed deposits in India. The two available fixed deposits they can open are NRE (Non-resident External) and NRO (Non-resident Ordinary).<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1683208732128\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Is-premature-withdrawal-allowed-for-fixed-deposits\"><\/span><strong>Is premature withdrawal allowed for fixed deposits?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Premature withdrawals are subject to banks\u2019 norms. Generally, there is a penalty on the interest rate, which varies from bank to bank.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1683208738395\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Which-bank-has-the-highest-interest-rate-for-fixed-deposits\"><\/span><strong>Which bank has the highest interest rate for fixed deposits?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Unity Small Finance Bank offers the highest interest rate of 9% for fixed deposits with a tenure of 1001 Days (2 yrs, 8 months, 28 days).<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Read about top fixed deposit interest rates offered by various banks and NBFCs, along with tax-saving fixed deposits.<\/p>\n","protected":false},"author":90,"featured_media":11082,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[1739,1721],"tags":[],"acf":[],"modified_by":"Anjali Chourasiya","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2022\/11\/14-Nov-22-Best-fixed-deposit-in-india.jpeg?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/11081"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/90"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=11081"}],"version-history":[{"count":6,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/11081\/revisions"}],"predecessor-version":[{"id":12595,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/11081\/revisions\/12595"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/11082"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=11081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=11081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=11081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}