Fixed Deposit is one of the safest investment avenues, which can help you grow your savings, while offering stability and safety of principal amount. By investing in FD, you can take control of your investments, with greater flexibility, assured returns and high stability. Anyone can choose tenure between 12 months and 60 months, as per his financial needs.
Credit Ratings
Familiarise yourself with the CRISIL rating. CRISIL awards ratings to bank fixed deposits to indicate how safe they are. FAAA or FAA is the best rating for a fixed deposit whose tenor is greater than a year, whereas for deposits that have a tenor of less than 12 months, the rating you should look for is CRISIL A1+.These ratings are relevant only for making deposits in NBFCs and company deposits.
DICGC’s Role
Familiarise yourself with the protection that the Deposit Insurance and Credit Guarantee Corporation (DICGC) offers. It is a subsidiary of the RBI and insures all deposits—savings accounts, recurring deposits and fixed deposits—up to Rs.1 lakh. You can visit the website to understand the banks that fall under their purview.
Other Factors
Check their records; review how secure the bank is.
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Fixed Deposit Interest Rates
Fixed Deposit Interest Rates of Small Finance Banks
| Bank Name | Interest Rates (% p.a.) | |||
| Highest slab | 1-year tenure | 3-year tenure | 5-year tenure | |
| AU Small Finance Bank | 8.00 | 6.35 | 8.00 | 7.20 |
| Capital Small Finance Bank Limited | 7.60 | 7.15 | 7.15 | 7.10 |
| Equitas Small Finance Bank | 8.50 | 8.20 | 8.00 | 7.25 |
| ESAF Small Finance Bank | 8.50 | 6.00 | 6.75 | 6.25 |
| Fincare Small Finance Bank | 8.41 | 7.50 | 8.00 | 8.00 |
| Jana Small Finance Bank | 8.15 | 7.25 | 7.35 | 6.00 |
| North East Small Finance Bank | 8.00 | 6.50 | 7.25 | 6.25 |
| Shivalik Small Finance Bank Limited | 8.00 | 7.50 | 8.00 | 7.00 |
| Suryoday Small Finance Bank | 8.51 | 6.85 | 7.25 | 7.50 |
| Ujjivan Small Finance Bank | 8.25 | 6.50 | 7.20 | 7.20 |
| Unity Small Finance Bank | 9.00 | 7.35 | 7.65 | 7.65 |
| Utkarsh Small Finance Bank | 8.25 | 7.75 | 7.50 | 7.50 |
FD Interest Rates of Private Sector Banks
| Bank Name | Interest Rates (% p.a.) | |||
| Highest slab | 1-year tenure | 3-year tenure | 5-year tenure | |
| Axis Bank | 7.26 | 6.75 | 7.00 | 7.00 |
| Bandhan Bank | 8.00 | 7.25 | 7.25 | 5.85 |
| City Union Bank | 7.75 | 6.75 | 7.25 | 6.90 |
| CSB Bank | 7.50 | 5.00 | 5.75 | 5.75 |
| DBS Bank | 7.50 | 6.25 | 6.50 | 6.50 |
| DCB Bank | 8.00 | 7.25 | 7.60 | 7.60 |
| Dhanlaxmi Bank | 7.25 | 6.25 | 6.00 | 6.10 |
| Federal Bank | 7.25 | 6.80 | 6.60 | 6.60 |
| HDFC Bank | 7.10 | 6.60 | 7.00 | 7.00 |
| ICICI Bank | 7.10 | 6.70 | 7.00 | 7.00 |
| IDBI Bank | 7.15 | 6.75 | 6.25 | 6.25 |
| IDFC First Bank | 7.75 | 6.75 | 7.75 | 7.00 |
| IndusInd Bank | 7.75 | 7.50 | 7.75 | 7.25 |
| Jammu & Kashmir Bank | 7.25 | 7.25 | 6.50 | 6.50 |
| Karnataka Bank | 7.50 | 7.00 | 5.75 | 5.75 |
| Karur Vysya Bank | 7.50 | 7.00 | 7.00 | 6.25 |
| Kotak Mahindra Bank | 7.20 | 7.00 | 6.50 | 6.20 |
| Nainital Bank | 7.05 | 6.60 | 6.25 | 5.75 |
| RBL Bank | 7.80 | 7.00 | 7.00 | 7.00 |
| SBM Bank India | 7.75 | 7.05 | 7.30 | 7.75 |
| South Indian Bank | 7.40 | 6.60 | 6.50 | 6.00 |
| Tamilnad Mercantile Bank | 8.00 | 7.25 | 6.50 | 6.50 |
| Yes Bank | 7.75 | 7.25 | 7.00 | 7.00 |
FD Rates for Public Sector Banks
| Bank Name | Interest Rates (% p.a.) | |||
| Highest slab | 1-year tenure | 3-year tenure | 5-year tenure | |
| Bank of Baroda | 7.05 | 6.75 | 6.75 | 6.50 |
| Bank of India | 7.15 | 6.00 | 6.50 | 6.00 |
| Bank of Maharashtra | 7.00 | 6.25 | 6.00 | 5.75 |
| Canara Bank | 7.15 | 6.75 | 6.50 | 6.50 |
| Central Bank of India | 7.55 | 6.75 | 6.25 | 6.25 |
| Indian Bank | 7.10 | 6.10 | 6.25 | 6.25 |
| Indian Overseas Bank | 7.00 | 6.45 | 6.50 | 6.50 |
| Punjab & Sind Bank | 7.10 | 6.40 | 6.25 | 6.25 |
| Punjab National Bank | 7.25 | 6.80 | 7.00 | 6.50 |
| State Bank of India | 7.10 | 6.80 | 6.50 | 6.50 |
| UCO Bank | 7.20 | 6.75 | 6.30 | 6.20 |
| Union Bank of India | 7.30 | 6.30 | 7.30 | 6.70 |
FD Interest Rates of Leading Foreign Banks
| Bank Name | Interest Rates (p.a.) | |||
| Highest slab (%) | 1-year tenure (%) | 3-year tenure (%) | 5-year tenure (%) | |
| Citibank | 7.77 | 7.25 | 3.50 | 3.50 |
| Deutsche Bank | 7.75 | 7.00 | 7.75 | 7.50 |
| HSBC Bank | 7.50 | 4.00 | 7.00 | 6.00 |
| Standard Chartered Bank | 7.35 | 7.25 | 6.75 | 6.75 |
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