Top Fixed Deposit Rates Across Banks for Various Tenure Options
Fixed Deposit Rates Vary Widely Across Banks
Fixed deposit (FD) rates in India exhibit significant variation among banks, emphasizing the importance of thorough comparison before investing. In contrast to private and public sector banks, small finance banks offer higher interest rates, which can considerably impact earnings, particularly for longer tenures.
Interest Rates by Bank Type
Small Finance Banks
According to Paisabazaar.com, small finance banks offer the following FD rates:
| Bank | 1-year FD | 2-year FD | 3-year FD |
|---|---|---|---|
| Utkarsh Small Finance Bank | 7.00% | 7.25% | 7.50% |
| Equitas Small Finance Bank | 6.90% | 7.10% | 7.30% |
| RBL Small Finance Bank | 6.80% | 7.00% | 7.20% |
Private Sector Banks
According to Paisabazaar.com, private sector banks offer the following FD rates:
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| Bank | 1-year FD | 2-year FD | 3-year FD |
|---|---|---|---|
| HDFC Bank | 5.50% | 5.75% | 6.00% |
| ICICI Bank | 5.25% | 5.50% | 5.75% |
| Axis Bank | 5.10% | 5.25% | 5.40% |
Public Sector Banks
According to Paisabazaar.com, public sector banks offer the following FD rates:
| Bank | 1-year FD | 2-year FD | 3-year FD |
|---|---|---|---|
| State Bank of India (SBI) | 4.80% | 5.00% | 5.20% |
| Bank of Baroda | 4.75% | 4.90% | 5.05% |
| Punjab National Bank (PNB) | 4.70% | 4.85% | 5.00% |
Foreign Banks
According to Paisabazaar.com, foreign banks offer the following FD rates:
| Bank | 1-year FD | 2-year FD | 3-year FD |
|---|---|---|---|
| HSBC India | 5.00% | 5.25% | 5.50% |
| Standard Chartered Bank | 4.90% | 5.10% | 5.30% |
| Citi Bank | 4.80% | 4.95% | 5.10% |
Investor Takeaway
Compare FD rates across banks before investing to maximize returns.
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