Best Fixed Deposit Interest Rates for Top Banks in 2019

Fixed deposit is a conventional financial instrument that allows a common man to earn higher interests on his hard-earned savings. Most savings accounts offer interest at 3.5 – 4% p.a. whereas fixed deposits can provide interest at a rate of up to 9% p.a. Money deposited in fixed deposit schemes carries low risk and the depositor gets guaranteed returns on his investment. Some of the best fixed deposit schemes available for Indian citizens in 2019 are mentioned in this article.

Best Fixed Deposit Interest Rates in 2019 for Top Banks

Bank Best Fixed Deposit Interest Rates* (in % p.a.)
Regular Citizens Senior Citizens
IndusInd Bank 7.60% 8.10%
DCB Bank 7.00% 7.50%
Kotak Mahindra Bank 7.30% 7.80%
YES Bank 7.25% 7.75%
ICICI Bank 6.90% 7.40%
HDFC Bank 7.30% 7.80%
SBI 6.80% 7.30%
RBL Bank 8.05% 8.55%
Axis Bank 7.50% 8.15%
DBS 7.50% 7.50%
IDFC Bank 8.25% 8.25%
Bandhan Bank 7.65% 8.40%
Canara Bank 6.70% 7.20%
Federal Bank 7.40% 7.80%
OBC 7.00% 7.50%
Bank of Baroda 7.00% 7.00%

Note *Interest Rates are for deposits below ₹ 1 crore for tenure ranging 1 year to 2 years.

Best FD Interest Rates for Small Banks

Small Bank Fixed Deposit Interest Rates* (in % p.a.)
Regular Citizens Senior Citizens
Fincare Small Finance Bank 8.00% 8.50%
ESAF Small Finance Bank 8.75% 9.25%
Suryoday Small Finance Bank 8.50% 9.00%
Utkarsh Small Finance Bank 8.50% 9.00%
Jana Small Finance Bank 8.50% 9.10%

Note*Interest rates for investment below ₹ 1 crore for the tenure ranging 1 year to 2 years.

Things to Consider while Choosing the Best Fixed Deposit Scheme

Depositing money in fixed deposits is one of the safest investments you can make. However, you should research diligently to select the best fixed deposit scheme to maximise your profits and remain flexible at the same time. Here are some points that you should consider to find out which bank is best for fixed deposit:

  • FD Rate – The rate of interest paid during tenure is of primary importance for depositors. Generally, higher the FD interest rate, more are the takers of the scheme.
  • Tenure – The time for which a person deposits his money is also an important aspect. You should choose a scheme that offers the highest interest in the least possible time.
  • Credibility – There are a number of banks that provide higher FD interest rates but their credibility may be low. It is advisable to make deposits in banks and NBFCs that are certified by ICRA, CRISIL, etc.
  • Payout – The payout option provided by the institution also plays an important role while selecting the best fixed deposit scheme. FD schemes that provide the flexibility of choosing the way you receive interest should be preferred.
  • Withdrawal – FD schemes that charge lowest penalty on withdrawal and that have low or no lock-in period find more depositors.

Best Fixed Deposit Interest Rates for Top Banks in Detailed

IndusInd Bank FD Rates

FD interest rates in IndusInd Bank are as follows:

Tenure Regular Citizens Senior Citizens
7 days to 14 days 3.75% 4.25%
15 days to 30 days 4.25% 4.75%
31 days to 45 days 5.75% 6.25%
46 days to 60 days 6.00% 6.50%
61 days to 90 days 6.25% 6.75%
91 days to 120 days 6.50% 7.00%
121 days to 180 days 6.75% 7.25%
181 days to 210 days 7.00% 7.50%
211 days to 269 days 7.00% 7.50%
270 days to below 1 year 7.25% 7.75%
1 year to below 1 year 2 months 7.60% 8.10%
1 year 2 months to below 2 years 7.75% 8.25%
2 years to below 2 years 6 months 7.75% 8.25%
2 years 6 months to below 2 years 9 months 7.75% 8.25%
2 years 9 months to below 3 years 7.75% 8.25%
3 years to below 61 months 7.35% 7.85%
61 months and above 7.25% 7.75%
Indus Tax Saver Deposit Scheme (5 years) 7.50% 8.00%

DCB Bank FD Rates

FD rates in DCB Bank are as follows:

Tenure Regular Citizens Senior Citizens
7 days to 14 days 4.00% 4.50%
15 days to 45 days 4.00% 4.50%
46 days to 90 days 5.00% 5.50%
91 days to less than 6 months 6.75% 7.25%
6 months to less than 12 months 7.00% 7.50%
12 months 7.00% 7.50%
12 months 1 day to less than 15 months 7.40% 7.90%
15 months to less than 24 months 8.05% 8.55%
24 months 7.50% 8.00%
More than 24 months to less than 36 months 7.60% 8.10%
36 months 8.25% 8.75%
More than 36 months to 60 months 7.75% 8.25%
More than 60 months to 120 months 7.25% 7.75%

Note *Rates w.e.f. April. 12, 2019

Kotak Bank FD Rates

FD rates in Kotak Mahindra Bank are as follows:

Tenure Kotak Bank FD Rates
Regular Citizens Senior Citizens
7 – 14 days 3.50% 4.00%
15 – 30 days 4.00% 4.50%
31 – 45 days 5.00% 5.50%
46 – 90 days 5.50% 6.00%
91 – 120 days 6.25% 6.75%
121 – 179 days 6.25% 6.75%
180 days 6.40% 6.90%
181 days – 269 days 6.50% 7.00%
270 days 6.50% 7.00%
271 days – 364 days 7.10% 7.60%
365 days – 390 days 7.30% 7.80%
391 days – less than 3 years 7.25% 7.75%
3 years and above – less than 4 years 7.00% 7.60%
4 years – less than 5 years 7.00% 7.50%
5 years – 10 years 6.50% 7.00%

Note – Interest rates mentioned above are applicable on deposits below ₹ 1 crore with effect from April. 25, 2019.

Yes Bank FD Rates

FD rates in Yes Bank are as follows:

Tenure Yes Bank FD Rates*
Regular Citizens Senior Citizens
7 to 45 days 5.00% 5.50%
46 to 90 days 6.25% 6.75%
3 months to < 6 months 6.25% 6.75%
6 months to < 9 months 6.85% 7.35%
9 months to < 1 Year 7.15% 7.65%
1 Years to <= 10 years 7.25% 7.75%

Note – *Interest rates for deposits < Rs. 1 crore, w.e.f. May 2, 2019

ICICI Bank FD Rates

FD rates in ICICI Bank are as follows:

  ICICI Bank FD Rates (% p.a.) w.e.f March 07, 2019
Tenure Period General Citizen Senior Citizen*
7 days to 14 days 4.00 4.50
15 days to 29 days 4.25 4.75
30 days to 45 days 5.50 6.00
46 days to 60 days 6.00 6.50
61 days to 90 days 6.25 6.75
91 days to 120 days 6.25 6.75
121 days to 184 days 6.25 6.75
185 days to 289 days 6.50 7.00
290 days to less than 1 year 6.75 7.25
1 year to 389 days 6.90 7.40
390 days to 2 years 7.10 7.60
2 years 1 day upto 3 years 7.50 8.00
3 years 1 day upto 5 years 7.25 7.75
5 years 1 day upto 10 years 7.00 7.50
5 Years Tax saver FD(Max upto Rs. 1.50 lac) 7.25 7.75

Note – *Interest rate are applicable on deposits below ₹ 1 crore.

HDFC Bank FD Rates

FD rates in HDFC Bank are as follows:

Tenure HDFC FD Interest Rates
Regular Citizens Senior Citizens
7 – 14 days 3.50% 4.00%
15 – 29 days 4.25% 4.75%
30 – 45 days 5.75% 6.25%
46 days – 6 months 6.25% 6.75%
6 months 1 day – 9 months 6.75% 7.25%
9 months 1 day – less than 1 year 7.10% 7.60%
1 year – 2 years 7.30% 7.80%
2 years 1 day – 3 years 7.40% 7.90%
3 years 1 day – 5 years 7.25% 7.75%
5 years 1 day – 10 years 6.50% 7.00%

SBI FD Rates

FD rates in SBI are as follows:

FD Tenure SBI FD Interest Rates (in % p.a.) < ₹ 1 crore
Days/Years Regular Citizens Senior Citizens
7 days to 45 days 5.75% 6.25%
46 days to 179 days 6.25% 6.75%
180 days to 210 days 6.35% 6.85%
211 days to less than 1 year 6.40% 6.90%
1 year to less than 2 year 7.00% 7.50%
2 years to less than 3 years 6.75% 7.25%
3 years to less than 5 years 6.70% 7.20%
5 years and up to 10 years 6.60% 7.10%

Bank of Baroda FD Rates

FD rates in Bank of Baroda are as follows:

Tenure Bank of Baroda Fixed Deposit Interest Rates
Regular Citizens Senior Citizens
7 days to 14 days 4.50% 5.00%
15 days to 45 days 4.75% 5.25%
46 days to 90 days 5.00% 5.50%
91 days to 180 days 5.75% 6.25%
181 days to 270 days 6.50% 7.00%
271 days & above and less than 1 year 6.50% 7.00%
1 year 6.70% 7.20%
Above 1 year to 400 days 6.85% 7.35%
Above 400 days and up to 2 years 6.80% 7.30%
Above 2 years and up to 3 years 6.70% 7.20%
Above 3 years and up to 5 years 6.70% 7.20%
Above 5 years and up to 10 years 6.70% 7.20%

Note – Above interest rates are applicable on deposits below ₹ 1 Cr. w.e.f. March 13, 2019,

RBL Bank FD Rates

FD rates in RBL Bank are as follows:

FD Tenure RBL Bank FD Rates (in % p.a) on Deposits less than Rs 1 crore
Regular Citizens Senior Citizens
7 to 14 days 5.00 5.50
15 to 45 days 6.00 6.50
46 to 90 days 7.00 7.50
91 to 180 days 7.15 7.65
181 to 240 days 7.25 7.75
241 to 364 days 7.35 7.85
12 months to less than 24 months 8.00 8.50
24 months to less than 36 months 8.05 8.55
36 months to less than 60 months 7.60 8.10
60 months to less than 120 months 7.60 8.10
120 months to 240 months 7.20 7.70
Tax Saving Fixed Deposit
(60
months to less than 120 months)
7.60 8.10

Note Interest rates w.e.f. March. 02, 2019. Figures mentioned in the above table are subject to change without prior information.

Axis Bank FD Rates

FD rates in Axis Bank are as follows:

Tenure Axis Bank FD Rates
Regular Citizens Senior Citizens
7 days – 29 days 3.50% 3.50%
30 days to 45 days 5.50% 5.50%
46 days – <6 months 6.25% 6.25%
6 months – <9 months 6.75% 7.00%
9 months – < 1 year 7.10% 7.35%
1 year – <1 year 5 days 7.30% 7.95%
1 year 5 days < 1 year 11 days 7.30% 7.95%
1 year 11 days < 13 months 7.30% 7.95%
13 months – <14 months 7.35% 8.00%
14 months – <17 months 7.30% 7.95%
17 months < 18 months 7.30% 7.95%
18 months < 2 years 7.30% 7.95%
2 years – < 30 months 7.50% 8.15%
30 months – <3 Years 7.50% 8.00%
3 years < 5 years 7.25% 7.75%
5 Years – 10 Years 7.00% 7.50%

Note Figures mentioned in the above table are applicable with effect from March 22, 2019. Interest rates are for deposits below Rs. 1 crore.

DBS Bank FD Rates

FD rates in DBS Bank are as follows:

Tenure DBS Bank FD Rates
Regular Citizens Senior Citizens
7 days 4.00% 4.00%
8 days to 29 days 4.25% 4.25%
30 days & up to 45 days 4.50% 4.50%
46 days & up to 60 days 5.00% 5.00%
61 days & up to 90 days 5.50% 5.50%
91 days & up to 180 days 5.75% 5.75%
181 days & up to 269 days 6.50% 6.50%
270 days to less than 1 year 6.75% 6.75%
1 years to 15 months 7.50% 7.50%
15 months 1 day to less than 2 years 7.00% 7.00%
2 years & less than 2 years 6 months 7.00% 7.00%
2 years and 6 months 7.00% 7.00%
2 years 6 months 1 day to less than 5 years 7.00% 7.00%
5 years & above 7.00% 7.00%

Note: Interest rates w.e.f. 30 March 2019.

IDFC Bank FD Rates

FD rates in IDFC Bank are as follows:

Tenure IDFC Bank FD Rates (% p.a)
Regular Citizens Senior Citizens
7 – 14 days 4.00% 4.50%
15 – 29 days 5.00% 5.50%
30 – 45 days 6.25% 6.75%
46 – 90 days 6.50% 7.00%
91 – 180 days 6.75% 7.25%
181 – 365 days 7.00% 7.50%
366 – 730 days 7.75% 8.25%
731 – 1095 days 8.25% 8.75%
3 years 1 Day – 10 years 7.50% 8.00%

Note: Interest rates w.e.f. April, 16, 2019.

Bandhan Bank FD Rates

FD interest rates in Bandhan Bank are as follows:

Tenure Bandhan Bank FD Rates (% p.a)
Regular Citizens Senior Citizens
7 days to 14 days 3.50% 4.25%
15 days – 3 months 4.00% 4.75%
3 months to less than 6 months 4.50% 5.25%
6 months to less than 1 year 6.80% 7.55%
1 year to 18 months 7.35% 8.10%
Above 1 year to less than 2 years 7.65% 8.40%
2 years to less than 5 years 7.50% 8.25%
5 years to less than 7 years 7.50% 8.25%
7 years to upto 10 years 6.40% 7.15%

Note: Interest rates w.e.f. March 06, 2019

Canara Bank FD Rates

FD interest rates in Canara Bank are as follows:

Tenure Canara Bank FD Rates (% p.a)
Regular Citizens Senior Citizens
7 days to 45 days 5.75% 6.25%
46 days to 179 days 6.00% 6.50%
180 days to 269 days 6.00% 6.50%
270 days to less than 1 year 6.20% 6.70%
1 year only 6.75% 7.25%
Above 1 year to less than 2 years 6.70% 7.20%
2 years & above to less than 3 years 6.70% 7.20%
3 years to 10 years 6.60% 7.10%

Note: Interest rates w.e.f. May 09, 2019

Federal Bank FD Rates

FD interest rates in Federal Bank are as follows:

Tenure Regular Citizens
(Less than Rs.100 Lakh)
Senior Citizens
(Less than Rs.100 Lakh)
7 days to 14 days 3.50% 4.00%
15 days to 29 days 4.50% 5.00%
30 days to 60 days 5.00% 5.50%
61 days to 90 days 5.70% 6.20%
91 days to 180 days 6.50% 7.00%
181 days to less than 1 year 6.50% 7.00%
1 year to 549 days 7.30% 7.80%
550 days 7.30% 7.80%
551 days to 2 years 7.30% 7.80%
Above 2 years to less than 3 years 7.40% 7.90%
3 years and above 7.25% 7.75%

Note: Interest rates w.e.f. April 16, 2019

OBC FD Rates

FD interest rates in Oriental Bank of Commerce are as follows:

Tenure OBC FD Rates (% p.a)
Regular Citizens Senior Citizens
7 days to 45 days 5.75% 6.25%
46 days to 179 days 6.50% 7.00%
180 days to 269 days 6.50% 7.00%
270 days to less than 1 year 6.75% 7.25%
1 year to less than 2 years 7.00% 7.50%
2 year to less than 3 years 6.75% 7.25%
3 years to less than 5 years 6.70% 7.20%
5 years to 10 years 6.75% 7.25%

Note: Interest rates w.e.f. Feb 02, 2019

Best Fixed Deposit Interest Rates for Small Banks in Detailed

Fincare Small Finance Bank Fixed Deposit Rate

FD interest rates in Fincare Small Finance Bank are as follows:

Tenure Fincare FD Interest Rate
Regular Senior Citizens
7 days to 45 days 4.00% 4.50%
46 days to 90 days 4.00% 4.50%
91 days to 180 days 6.00% 6.50%
181 days to 364 days 7.00% 7.50%
12 months to 15 months 8.00% 8.50%
15 months 1 day to 18 months 8.25% 8.75%
18 months 1 day to 21 months 8.50% 9.00%
21 months 1 day to 24 months 8.75% 9.25%
24 months 1 day to 36 months 9.00% 9.50%
3 years 1 day to 5 years 8.00% 8.50%
5 years 1 day to 7 years 7.00% 7.50%

ESAF Small Finance Bank Fixed Deposit Rate

FD interest rates in ESAF Small Finance Bank are as follows:

Tenure Rate of Interest effective from 1st March 2019
Regular Senior Citizens
7 – 14 days 5.50% 6.00%
15 – 59 days 5.50% 6.00%
60 – 90 days 6.25% 6.75%
91 – 179 days 6.75% 7.25%
180 – 363 days 7.50% 8.00%
364 days 5.60% 6.10%
365 – 727 days 8.75% 9.25%
728 days 6.80% 7.30%
729 – 1091 days 8.00% 8.50%
1092 days 5.66% 6.16%
1093 – 1819 days 7.30% 7.80%
1820 days 5.65% 6.15%
1821 – 3652 days 7.30% 7.80%

Suryoday Small Finance Bank Fixed Deposit Rate

FD interest rates in Suryoday Small Finance Bank are as follows:

Tenure Interest Rates effective from February 25, 2019
Regular Citizens Senior Citizens
7 days to 14 days 4.00% 4.50%
15 days to 45 days 4.00% 4.50%
46 days to 90 days 5.00% 5.50%
91 days to 180 days 5.50% 6.00%
181 days to 240 days 7.50% 8.00%
241 days to less than 1 year 7.75% 8.25%
1 year to 2 years 8.50% 9.00%
Above 2 years to three years 8.75% 9.25%
Above three years to less than 5 years 8.00% 8.50%
5 years 8.25% 8.75%
Above 5 years to 10 years 7.25% 7.75%

Utkarsh Small Finance Bank Fixed Deposit Rate

FD interest rates in Utkarsh Small Finance Bank are as follows:

Tenure Interest Rate w.e.f. February 28, 2019
Regular Senior Citizens
7 days to 28 days 5.00% 5.50%
29 days to 45 days 5.00% 5.50%
46 days to 90 days 5.75% 6.25%
91 days to 120 days 7.00% 7.50%
121 days to 179 days 7.00% 7.50%
180 days to 210 days 7.25% 7.75%
211 days to 270 days 7.25% 7.75%
271 days to less than 1 year 7.50% 8.00%
1 year to 455 days 8.50% 9.00%
456 days to less than 2 years 9.00% 9.50%
2 years to less than 3 years 7.85% 8.35%
3 years to less than 5 years 7.00% 7.50%
5 years 8.00% 8.50%
More than 5 years to 10 years 7.00% 7.50%

Jana Small Finance Bank Fixed Deposit Rate

FD interest rates in Jana Small Finance Bank are as follows:

Tenure Jana FD Interest Rates (% p.a)
Regular Citizens Senior Citizens
7 days to 45 days 6.00% 6.60%
46 days to 60 days 6.50% 7.10%
61 days to 180 days 7.00% 7.60%
181 days to 365 days 8.50% 9.10%
More than 1 year up to 2 years 8.50% 9.10%
More than 2 years to less than 3 years 8.50% 9.10%
3 years 9.00% 9.60%
More than 3 years up to 5 years 8.50% 9.10%
More than 5 years up to 10 years 7.00% 7.60%

Taxation of Fixed Deposits

Unlike savings accounts that offer lower interest rates, fixed deposits are fully taxable. Below mentioned are some important aspects related to taxation on FDs:

  • Banks deduct Tax Deducted at Source (TDS) on fixed deposits at a rate of 10%.
  • In case a depositor has not submitted his PAN, he is taxed at 20%.
  • In case the bank has deducted tax at a rate of 10% but you fall in a higher tax bracket, you have to pay the additional tax.
  • You should check Form 26AS while filing your returns to know the TDS deducted by the bank on your FDs. You can then pay any additional amount due or claim a refund as the case may be.

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