Fixed Deposit: Which banks are paying highest interest rates?

Mumbai: Fixed deposits often termed as Term deposits are a low risk savings option which earn a fixed income in the form of interest. They can be opted based on desired investment horizon ranging from 7 days to as long as 9-10 years.

Following are some Fixed Deposit schemes, handpicked for a quick reference:

BankMinimum TenureInterest RateHow much you get after Minimum Tenure (Rupees)
Tenure: 1 to 2 Years:
Indus Ind Bank1 Year8%10,824
Deutsche Bank1 Year8%10,824
Bandhan Co-operative Bank1.5 Years7.65%11,203
Standard Chartered Bank1.5 Years7.50%11,180
The Ratnakar Bank1 Year7.40%10,760
Kotak Bank390 Days7.40%10,815
HDFC Bank1 Year7.30%10,750
    
Tenure: 2 to 3 Years:
Indus Ind Bank33 months7.50%12,267
The Ratnakar Bank24 months7.50%11,602
HDFC Bank24 months7.40%11,580
Kotak Bank24 months7.25%11,545
IDBI Bank24 months7.05%11,500
    
Tenure: 3 to 5 Years:
Deutsche Bank4 Years7.50%13,461
The Ratnakar Bank36-60 months7.35%12,442
Yes Bank36 months7.20%12,387
Kotak Bank3-4 Years7.10%12,350
IDBI Bank1100 Days – 5 Years6.85%12,271

Note: Initial deposit amount is considered at Rs.10,000.

Premature withdrawal may be charged by certain banks. Alternatively, loan is granted by certain banks against the deposit maintained in the fixed deposit account. Also, interest rates may be subject to change without prior notice. Get in touch with respective banks for further details.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in