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Fincash » FD Interest Rates 2019

Fixed Deposit (FD) Interest Rates 2019

Updated on November 15, 2019 , 15185 views

Fixed Deposits (FD) have always been one of the popular modes of investments in India. FD gives better returns on the invested money as the interest rate offered are comparatively higher to a Recurring deposit or a Savings Account. The FD interest rates vary from 4-7% p.a., depending on the tenure of the investment. Senior citizens earn a higher rate of interest compared to the regular citizens. In this scheme, it is seen that the higher the tenure, higher the interest rate and vice versa. Another advantage of this scheme is that investors can determine their potential earnings by using FD interest formula even before Investing!

Fixed Deposit (FD)

Fixed deposits are a great investment tool for the risk-averse investors. FD scheme not only encourages a habit of healthy saving but also provides high liquidity, so investors can exit at will. It is a deposit scheme where you can deposit a principal amount for a fixed tenure. Upon the maturity, you will get the principal amount along with the interest earned on it over the tenure.

While investing in a Fixed Deposit scheme, it is advisable that you compare FD interest rates of various banks and choose the one that gives you the desired returns.

Type of FD Schemes and How FD Interest Rates Differ

1. Standard Fixed Deposit

These are regular Fixed Deposit schemes which have a wide range of fixed tenures ranging from 7 days to 10 years. The FD interest rates are determined at the time of deposit. The rate varies by issuer depending upon the deposited amount, the tenure, and whether it is a regular citizen or senior citizen scheme.

2. Floating Rate Fixed Deposit

Under this scheme, the FD interest rates are not fixed. It fluctuates during the tenure depending on the changing reference rate. This allows investors to take the benefits of a change in the FD rates (assuming it increases).

3. Tax Saving Fixed Deposit

A Tax saving Fixed Deposit allows investors to enjoy certain tax benefits but is accompanied by certain limitations. This FD scheme has a minimum deposit period of five years and a maximum of 10 years. The scheme doesn’t allow premature withdrawal or even a partial withdrawal till five years. But, under this scheme, an investor can claim deductions up to INR 1,50,000 on the money invested under Section 80C of the Income Tax Act, 1961. However, the interest earned on such FDs is fully taxable. tax saving FD interest rates vary from 6.00% to 8.00% p.a.

FD-Rates

FD Interest Rates 2019

Here is a list of FD interest rates offered by various banks. The interest rates for FDs have been grouped according to the standard FD scheme and senior citizen FD scheme. (Rates are as of 1st Feb 2018).

Bank Name FD Interest Rates (P.A.) Senior Citizen FD Rates (P.A.)
Axis Bank 3.50% - 6.85% 3.50% - 7.35%
State Bank of India 5.25% - 6.25% 5.75% - 6.75%
HDFC Bank 3.50% - 6.75% 4.00% - 7.25%
ICICI Bank 4.00% - 6.75% 4.50% - 7.25%
Kotak Bank 3.50% - 6.85% 4.00% - 7.35%
Bank of Baroda 4.25% - 6.55% 4.75% - 7.05%
IDFC Bank 4.00% - 7.50% 4.50% - 8.00%
Indian Bank 4.50% - 6.50% 5.00% - 7.00%
Punjab National Bank 5.25% - 6.60% 5.75% - 7.10%
Allahabad Bank 4.00% - 6.50% -
Bank of India 5.25% - 6.60% 5.25% - 7.10%
Central Bank of India 4.75% - 6.60% 5.25% - 7.00%
UCO Bank 4.50% - 6.50% -
Citibank 3.00% - 5.25% 3.50% - 5.75%
Federal Bank 3.50% - 6.75% 4.00% - 7.25%
Karnataka Bank 3.50% - 7.25% 4.00% - 7.75%
DBS Bank 4.00% - 7.20% 4.00% - 7.20%
Bandhan Bank 3.50% - 7.00% 4.00% - 7.50%
Dhan Laxmi Bank 4.00% - 6.60% 4.00% - 7.10%
Jammu & Kashmir Bank 5.00% - 6.75% 5.50% - 7.25%
Yes Bank 5.00% - 6.75% 5.50% - 7.25%
Standard Chartered Bank 4.25% - 6.85% 5.00% - 7.35%
Vijaya Bank 4.00% - 6.60% 4.50% - 7.10%
Bank of Maharashtra 4.25% - 6.50% 4.25% - 7.00%
Canara Bank 4.20% - 6.50% 4.70% - 7.00%
HSBC Bank 3.00% - 6.25% 3.50% - 6.75%
DHFL 7.70% - 8.00% 7.95% - 8.25%

*Disclaimer- The FD Interest Rates are subject to frequent change. Before starting a Fixed Deposit scheme, do inquire with the concerned banks or visit their websites.

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Various Banks FD Interest Rates

Here's a detailed FD interest rates of various banks as per investment tenure and investment amount.

Union Bank of India FD Interest Rates

Here's the list of Union Bank FD Rates and are applicable for deposits of 1 crore.

w.e.f 27/08/2018

Tenure Interest Rates for Regular Deposit (p.a.)
7 day – 14 day 5.00%
15 day – 30 day 5.00%
31 day – 45 day 5.00%
46 day – 90 day 5.50%
91 day- 120 day 6.25%
121 day to - 179 days 6.25%
180 days 6.50%
181 day to <10 Month 6.50%
10 Month to 14 Month 6.75%
>14 Month to 3 Year 6.70%
>3 year - 5 Year 6.85%
>5 year - 10 Year 6.85%

SBI FD Interest Rates

State Bank of India (SBI) Fixed Deposit Rates

As on Sept'2018

Tenure Interest Rates for Regular Deposit (p.a.) Interest Rates for Senior Citizen (p.a.)
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 364 days 6.40% 6.90%
1 year to 1 year 364 days 6.70% 7.20%
2 years to 2 years 364 days 6.75% 7.25%
3 years to 4 years 364 days 6.80% 7.30%
5 years to 10 years 6.85% 7.35%

IDBI Fixed Deposit Interest Rates

Here's a list of IDBI FD Interest rates for deposits of below INR 1 crore.

w.e.f. August 24, 2018

Tenure Interest Rates for Regular Deposit (p.a.) Interest Rates for Senior Citizen(p.a.)
15 days to 30 days 5.75% 5.75%
31 days to 45 days 5.75% 5.75%
46 days to 60 days 6.25% 6.25%
61 days to 90 days 6.25% 6.25%
91 days to 6 months 6.25% 6.25%
271 days to 364 days 6.50% 6.50%
6 months 1 day to 270 days 6.50% 6.50%
1 year 6.75% 7.25%
1 year 1 day to 2 years 6.85% 7.35%
2 years 1 day to 5 years 6.75% 7.25%
5 years 1 day to 10 years 6.25% 6.75%
10 years 1 day to 20 years 6.00% -

HDFC FD Rates

Here's the list of HDFC FD interest rates and are applicable for deposits of below INR 1 crore.

As on Sept'2018

Tenure Interest Rates for Regular Deposit (p.a.) Interest Rates for Senior Citizen(p.a.)
7 - 14 days 3.50% 4.00%
15 - 29 days 4.25% 4.75%
30 - 45 days 5.75% 6.25%
46 - 60 days 6.25% 6.75%
61 - 90 days 6.25% 6.75%
91 days - 6 months 6.25% 6.75%
6 months 1 day- 6 months 3 days 6.75% 7.25%
6 mnths 4 days 6.75% 7.25%
6 mnths 5 days- 9 mnths 6.75% 7.25%
9 mnths 1 day- 9 mnths 3 days 7.00% 7.50%
9 mnths 4 days 7.00% 7.50%
9 months 5 days - 9 months 15 days 7.00% 7.50%
9 months 16 days 7.00% 7.50%
9 months 17 days < 1 Year 7.00% 7.50%
1 Year 7.25% 7.75%
1 year 1 day - 1 year 3 days 7.25% 7.75%
1 year 4 days 7.25% 7.75%
1 year 5 days - 1 Year 15 Days 7.25% 7.75%
1 Year 16 days 7.25% 7.75%
1 year 17 days - 2 Years 7.25% 7.75%
2 years 1day - 2 Years 15 days 7.10% 7.60%
2 Years 16 days 7.10% 7.60%
2 years 17 days - 3 Years 7.10% 7.60%
3 years 1day - 5 years 7.10% 7.60%
5 Years 1 Day - 8 Years 6.00% 6.50%
8 Years 1 Day - 10 Years 6.00% 6.50%

Bank of India FD Rates

The above rates are applicable for deposits of below INR 1 crore.

As on June'2018

Tenure Interest Rates for Regular Deposit (p.a.) Interest Rates for Senior Citizen(p.a.)
7 days to 14 days 5.25% 0.00
15 days to 30 days 5.25% 5.75%
31 days to 45 days 5.25% 5.75%
46 days to 90 days 5.25% 5.75%
91 days to 120 days 5.75% 6.25%
121 days to 179 days 6.00% 6.50%
180 days to 269 days 6.00% 6.50%
270 days to Less than 1 Year 6.25% 6.75%
1 Year & above to less than 2 years 6.25% 6.75%
2 years & above to less than 3 years 6.60% 7.10%
3 Years & above to less than 5 years 6.65% 7.15%
5 years & above and less than 8 years 6.40% 6.90%
8 years & above to 10 years 6.35% 6.85%

Bank of Baroda FD Interest Rates

The above rates are applicable for deposits of <INR 1 crore.

As of Jan 01, 2018

Tenure Interest Rates for Regular Deposit (p.a.) Interest Rates for Senior Citizen(p.a.)
7 days to 14 days 4.25% 4.75%
15 days to 45 days 4.75% 5.25%
46 days to 90 days 5.00% 5.50%
91 days to 180 days 5.50% 6.00%
181 days to 270 days 6.00% 6.50%
271 days to less than 1 year 6.25% 6.75%
1 year 6.45% 6.95%
Above1 year to 400 days 6.55% 7.05%
Above 400 days and up to 2 years 6.50% 7.00%
Above 2 Years and upto 3 Years 6.50% 7.00%
Above 3 Years and upto 5 Years 6.50% 7.00%
Above 5 Years and upto 10 Years 6.25% 6.75%

Axis Bank FD Interest Rates

The above rates are applicable for deposits of below INR 1 crore.

w.e.f 30/08/2018

Tenure Interest Rates for Regular Deposit (p.a.) Interest Rates for Senior Citizen(p.a.)
7 days to 14 days 3.50% 3.50%
15 days to 29 days 3.50% 3.50%
3. 30 days to 45 days 5.50% 5.50%
46 days to 60 days 6.25% 6.25%
5. 61 days < 3 months 6.25% 6.25%
6. 3 months < 4 months 6.25% 6.25%
7. 4 months < 5 months 6.25% 6.25%
8. 5 months < 6 months 6.25% 6.25%
9. 6 months < 7 months 6.75% 7.00%
10. 7 months < 8 months 6.75% 7.00%
11. 8 months < 9 months 6.75% 7.00%
12. 9 months < 10 months 7.00% 7.25%
13 10 months < 11 months 7.00% 7.25%
14. 11 months < 1 year 7.00% 7.25%
15. 1 year < 1 year 5 days 7.25% 7.90%
16. 1 year 5 days < 1 year 11 days 7.25% 7.90%
17. 1 year 11 days < 13 months 7.25% 7.90%
18. 13 months < 14 months 7.30% 7.95%
19. 14 months < 15 months 7.25% 7.90%
20. 15 months < 16 months 7.25% 7.90%
21. 16 months < 17 months 7.25% 7.90%
22. 17 months < 18 months 7.25% 7.90%
23. 18 Months < 2 years 7.00% 7.65%
24. 2 years < 30 months 7.00% 7.65%
25. 30 months < 3 years 7.00% 7.50%
26. 3 years < 5 years 7.00% 7.50%
27. 5 years to 10 years 7.00% 7.50%

Formula to Calculate Fixed Deposit Interest

Even though FD interest rates vary bank to bank, investors can still determine their potential earnings by using FD interest formula.

FD Interest Rate Formula- A=P(1+r/n)^nt

Where,

A= Maturity Value

P= Principal Amount

r= Rate of Interest

t= Number of Years

n= Compound Interest Frequency

*Using FD Interest Formula investors can determine their potential earnings.

Illustration- If you invest INR 5000 monthly with an annual interest rate of 6% p.a. which is compounding annually, then after 5 years your total invested amount of INR 300,000 will grow to INR 3,49,121. That means, you are making a net profit of INR 49,121.

Using the above formula, investors can estimate the interest earned and the maturity value of the principal amount.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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