Highest Interest Rate on Bank Fixed Deposits – December 2016
The post lists down the rate of interest on Bank fixed deposits as of December 2, 2016.
You might want to bookmark this page as the FD interest rates would be updated every month. Would help you in better decision making.
Fixed Deposit Highlights:
- Post demonetization on November 8, all banks have received lot of deposits leading to deposit rate cuts by almost all banks.
- Most banks offer FDs for tenure of 7 Days to 10 Years.
- The Ratnakar Bank & IDBI Bank do offer fixed deposits up to 20 years too.
- For very short Term Deposits the interest rate is similar to that of Savings Account and so you should not worry about FD. Also Interest up to Rs 10,000 in Saving Account is Tax free.
- Most banks compound interest quarterly
- Banks offer Loan/Overdraft against the amount available in Fixed Deposit. The interest is generally 0.5% to 1% more than that offered to FD.
- TDS (Tax deduction at source) at the rate of 10% is deducted, if the interest income is more than Rs 10,000 in financial year per bank
- There might be penalty for pre-mature withdrawal of Fixed Deposits
Also Read: Highest interest rate on savings account in India?
Fixed Deposit Interest Rates:
The highest interest rate is offered by The IDBI Bank at 8.25% for 366 Days Fixed Deposit.
For comparing the best interest rates on fixed deposits over different duration of investment, we have it divided into following 5 slabs:
- FD for Less than 1 Year
- FD for 1 to 2 years
- FD for 2 to 5 Years
- FD for 5 to 10 years
- FD for More than 10 years
We show the highest interest rates on fixed deposits for the above duration buckets. We have also compared the best interest rates on offer by that being offered by State Bank of India (SBI), ICICI Bank and Post Offices.
Click for Best Tax Saving FDs u/s 80C
Interest Rate for FD of Less than 1 Year:
The highest interest rate is offered by IDFC Bank (181 – 365 days) at 7.75%, Repco Bank (90 days – 364 days) and The Ratnakar Bank (241 days to 364 days) at 7.50% .
| Bank | Description | Interest Rate |
| IDFC Bank | 181 – 365 days | 7.75% |
| Repco Bank | 90 days – 364 days | 7.50% |
| The Ratnakar Bank | 241 days to 364 days | 7.50% |
| IDFC Bank | 91 – 180 days | 7.25% |
| Karnataka Bank | 181 days to 364 days | 7.20% |
| Karnataka Bank | 180 days | 7.15% |
| The Ratnakar Bank | 181 days to 240 days | 7.15% |
| Canara Bank | 270 days to less than 1 year | 7.10% |
| Union Bank of India | 181 day to less than 1 Year | 7.05% |
| Bandhan Bank | 6 months to less than 1 Year | 7.00% |
| Canara Bank | 180 days to 269 days | 7.00% |
| City Union Bank | 181 days to 364 days | 7.00% |
| DCB Bank | 9 months to less than 12 months | 7.00% |
| Dena Bank | 271 days to 364 days | 7.00% |
| IDBI Bank | 271 days to to 1year | 7.00% |
| IDFC Bank | 46 – 90 days | 7.00% |
| J&K Bank | 181 days to less than 1 year | 7.00% |
| State Bank of Mysore | 211 days to less than 1 year | 7.00% |
| State Bank of Patiala | 211 days to less than 1 year | 7.00% |
| State Bank of Travancore | 211 days to less than 1 year | 7.00% |
| Tamilnad Mercantile Bank Ltd | 180 Days to less than 1 Year | 7.00% |
| The Ratnakar Bank | 91 days to 180 days | 7.00% |
| Yes Bank | 9 months to < 1 Year | 7.00% |
| State Bank of India | Government Bank Benchmark | 5.50% – 7.00% |
| ICICI Bank | Private Bank Benchmark | 4.00% – 6.75% |
Also Read: 21 Hidden Charges in Saving Bank Account
Interest Rate for Fixed Deposit of 1 – 2 Years:
The highest interest rate is offered by IDFC Bank (366 days) at 8.25%.
| Bank | Description | Interest Rate |
| IDFC Bank | 366 days | 8.25% |
| Repco Bank | Repco Mahila (18 Months, Exclusively for Women) | 8.10% |
| Bandhan Bank | 1 Year | 8.00% |
| IDFC Bank | 401 – 540 days | 8.00% |
| Repco Bank | 1 Year & Above 2 years | 8.00% |
| The Ratnakar Bank | 24 months to less than 36 months | 7.85% |
| IDFC Bank | 367 – 400 days | 7.75% |
| The Ratnakar Bank | 12 months to less than 24 months | 7.75% |
| Canara Bank | 444/555 Days (Canara Shikhar Deposit Scheme) | 7.35% |
| Syndicate Bank | 1 year | 7.30% |
| Canara Bank | Above 1 year to less than 2 years | 7.25% |
| Catholic Syrian Bank | 13 Months | 7.25% |
| DCB Bank | 18 months to 36 months | 7.25% |
| Dhanalakshmi Bank | 365 days | 7.25% |
| J&K Bank | 1 year to less than 3 years | 7.25% |
| Karnataka Bank | 1 year to 2 years | 7.25% |
| Standard Charted Bank | 1 year – 390 days | 7.25% |
| State Bank of Bikaner and Jaipur | 1 Year to 455 Days | 7.25% |
| Union Bank of India | 1 year to 10 Years | 7.25% |
| Indus Ind Bank | 1 Year to below 2 year 6 months | 7.15% |
| Catholic Syrian Bank | 365 days to less than 13 months | 7.15% |
| DCB Bank | 12 months to less than 18 months | 7.15% |
| IDBI Bank | 1 Year to 5 Years | 7.15% |
| South Indian Bank | 1 year to 3 years | 7.15% |
| Tamilnad Mercantile Bank Ltd | 1 Year | 7.15% |
| Canara Bank | 1 year only | 7.10% |
| City Union Bank | 1 year | 7.10% |
| Corporation Bank | 1 year to less than 3 years | 7.10% |
| HDFC Bank | 1 year 1 day – 1 year 15 days | 7.10% |
| Punjab and Sind Bank | 1 Year – 2 Year | 7.10% |
| State Bank of Bikaner and Jaipur | 456 Days to less than 2 Years | 7.10% |
| Tamilnad Mercantile Bank Ltd | 1 year to 3 years | 7.10% |
| Yes Bank | 1 Years to <= 10 years | 7.10% |
| State Bank of India | Government Bank Benchmark | 6.90% – 6.95% |
| ICICI Bank | Private Bank Benchmark | 7.00% – 7.10% |
| Post Office FD (1 year) | Post Office | 7.00% |
| Post Office FD (2 years) | Post Office | 7.10% |
Click for Best Interest Rate on Recurring Deposits
Interest Rate for Fixed Deposit of 2 – 5 Years
The highest interest rate is offered by Deutsche Bank (5 Years), IDFC Bank (541 – 731 days) and Repco Bank (Above 2 years – 5 Years) at 8.25%.
| Bank | Description | Interest Rate |
| Deutsche Bank | 5 Years | 7.75% |
| IDFC Bank | 541 – 731 days | 7.75% |
| Repco Bank | Above 2 years – 5 Years | 7.75% |
| The Ratnakar Bank | 36 months to less than 240 months | 7.70% |
| Bandhan Bank | Above 1Year to less than 3 years | 7.50% |
| IDFC Bank | 732 – 1095 days | 7.50% |
| IDFC Bank | 3 years 1days – 10 years | 7.50% |
| Canara Bank | 2 years & above to less than 5 years | 7.35% |
| DCB Bank | 18 months to 36 months | 7.25% |
| Dena Bank | 2 years to less than 5 years | 7.25% |
| J&K Bank | 1 year to less than 3 years | 7.25% |
| State Bank of Bikaner and Jaipur | 2 years to less than 3 years | 7.25% |
| Union Bank of India | 1 year to 10 Years | 7.25% |
| Catholic Syrian Bank | Above 13 months to less than 60 Months | 7.15% |
| IDBI Bank | 1 Year to 5 Years | 7.15% |
| Corporation Bank | 1 year to less than 3 years | 7.10% |
| J&K Bank | 3 years to less than 5 years | 7.10% |
| South Indian Bank | Above 3 years up to and incl.10 years | 7.10% |
| Yes Bank | 1 Years to <= 10 years | 7.10% |
| State Bank of India | Government Bank Benchmark | 6.50% – 6.85% |
| ICICI Bank | Private Bank Benchmark | 7.00% |
| Post Office FD (2 years) | Post Office | 7.10% |
| Post Office FD (3 years) | Post Office | 7.30% |
| Post Office FD (5 years) | Post Office | 7.80% |
Also Read: Where to Park Money for Very Short Term [less than 6 Months]?
Interest Rate for Fixed Deposit of 5 – 10 Years
The highest interest rate is offered by The Ratnakar Bank (36 months to less than 240 months) at 7.70%.
| Bank | Description | Interest Rate |
| The Ratnakar Bank | 36 months to less than 240 months | 7.70% |
| IDFC Bank | 3 years 1days – 10 years | 7.50% |
| Union Bank of India | 1 year to 10 Years | 7.25% |
| DCB Bank | More than 36 months to 120 months | 7.15% |
| Catholic Syrian Bank | Above 60 months to and including 120 Months | 7.10% |
| South Indian Bank | Above 3 years up to and incl.10 years | 7.10% |
| Yes Bank | 1 Years to <= 10 years | 7.10% |
| Bandhan Bank | 3 years to less than 10 years | 7.00% |
| Canara Bank | 5 years & above to less than 10 years | 7.00% |
| Corporation Bank | 3 years & Above | 7.00% |
| Dena Bank | 5 years to less than 10 years | 7.00% |
| Dhanalakshmi Bank | Above 5 years & upto 10 years | 7.00% |
| Federal Bank | Above 1 Year | 7.00% |
| IDBI Bank | 5 Years to 20 Years | 7.00% |
| Indus Ind Bank | 2 year 6 months and above | 7.00% |
| J&K Bank | 5 years to 10 years | 7.00% |
| Karnataka Bank | Above 2 Years to 10 years | 7.00% |
| Karur Vysya Bank | 3 years and above | 7.00% |
| Lakshmi Vilas Bank | 5 years to 10 years | 7.00% |
| Punjab and Sind Bank | >5 Years – 10 Years | 7.00% |
| Tamilnad Mercantile Bank Ltd | Above 3 Years | 7.00% |
| State Bank of India | Government Bank Benchmark | 6.50% |
| ICICI Bank | Private Bank Benchmark | 6.75% |
Interest Rate for Fixed Deposit of more than 10 Years
The Ratnakar Bank and IDBI bank offers fixed deposit of up to 20 years.
| Bank | Description | Interest Rate |
| The Ratnakar Bank | 36 months to less than 240 months | 7.70% |
| IDBI Bank | 5 Years to 20 Years | 7.00% |
| State Bank of Patiala | 18 years (for girl child only) | 7.00% |
