Fixed Deposit, most commonly known as FD, is a financial instrument where you can deposit a fixed amount for a specific term ranging from a minimum 7 days to a maximum of 10 years in order to get better interest rates compared to the Savings Account.

The rate of interest though better than savings account may vary as per the amount, term and from bank to bank. After maturity of the Fixed Deposit, the investor would receive the total amount deposited along with a decent interest.

Benefits of Fixed Deposit:

  • The main benefit of opening a Fixed Deposit account is to earn a higher rate of interest on your savings. The rate of interest on FD is always higher than the rate of interest you get in a savings account.
  • You can open multiple accounts for different Fixed Deposits.
  • At the time of maturity, you can return the Fixed Deposit receipt and withdraw the money or you can also renew it for further period as per your convenience.
  • You can get loans against your FDs from the bank.
  • As per the Traditional Scheme, you can opt to credit the interest from your FD account directly into your savings account on a monthly or quarterly basis. If you opt for a reinvestment scheme, then the interest will be compounded to the principal amount on a quarterly basis.
  • Get the benefit of tax exemption on your savings under Section 80C of Income Tax Act, 1961.

Current FD rates in Public sector Banks:

Maturity Time Institution Interest rate Below 1 CroreFull details
 1 YearAllahabad Bank logo6.50% Allahabad Bank
 1 YearAndhra Bank logo6.50%Andhra Bank
1 YearBank of baroda logo6.45%Bank of Baroda
1 YearBank of India logo6.60%Bank of India
1 YearBank of maharashtra logo6.50%Bank of Maharashtra (BOM)
1 Year6.50%Canara Bank
1 Year6.60%Central Bank of India (CBI)
1 Yearcorporation bank fd6.60%Corporation Bank
1 Yeardena bank fd6.50%Dena Bank
1 Yearidbi bank fd6.75%IDBI Bank
1 YearIndian Bank fd6.50%Indian Bank
1 YearIndian Overseas Bank fd6.75%Indian Overseas Bank (IOB)
1 YearOriental Bank of Commerce fd6.60%Oriental Bank of Commerce (OBC)
1 YearPunjab & Sind Bank fd6.50%Punjab & Sind Bank
1 YearPunjab national bank fd6.60%Punjab national bank
1 Yearsbi fd6.25%State bank of India (SBI)
1 YearState Bank of Patiala fd6.25%State Bank of Patiala (SBP)
1 YearState bank of Bikaner and Jaipur fd6.25%State bank of Bikaner and Jaipur (SBBJ)
1 YearSBH fd6.25%State Bank of Hyderabad (SBH)
1 YearSBT fd6.25%State Bank of Travancore (SBT)
1 YearState Bank of Mysore fd6.25%State Bank of Mysore (SBM)
1 YearSyndicate Bank fd6.50%Syndicate Bank
1 YearUCO Bank fd6.50%UCO Bank
1 YearUnion Bank of India fd6.75%Union Bank of India
1 YearUnited Bank of India fd6.10%United Bank of India (UBI)
1 YearVijaya Bank fd6.50%Vijaya Bank

Table Updated: 27 January, 2018

Our Conclusion after comparing one year fixed deposit data of Public sector Banks:

  • Currently majority of Public sector bank offering 6.50% interest rate for 1 year fixed Deposit.
  • Current highest interest rate is 6.75% by IDBI Bank, Indian Overseas Bank and Union Bank of India.
  • Current lowest interest rate is 6.10% by United Bank of India.

Private Sector Banks:

Maturity TimeInstitutionInterest Rate Below 1 CroreFull details
1 YearAxis Bank fd7.00%Axis Bank
1 YearCity Union Bank fd6.50%Catholic Syrian Bank
1 YearCity Union Bank fd7.10%City Union Bank
1 YearDCB Bank fd6.85% Development Credit Bank
1 YearDhanlaxmi Bank fd6.60%Dhanlaxmi Bank
1 YearFederal bank fd6.70%Federal bank
1 YearHDFC Bank fd6.75%HDFC Bank
1 YearICICI Bank fd6.75%ICICI Bank
1 YearIndusInd Bank fd6.85%IndusInd Bank
1 YearKotak Mahindra Bank fd6.70%Kotak Mahindra Bank
1 YearKarur Vysya Bank fd6.75%Karur Vysya Bank
1 YearLakshmi Vilas Bank fd7.00%Lakshmi Vilas Bank
1 Yearrbl Bank fd7.10%RBL Bank
1 Yeartmb Bank fd7.00%TMB Bank
1 YearYes Bank fd6.60%Yes Bank

Table Updated: 27 January, 2018

Our Conclusion after comparing one year fixed deposit data of Private sector Banks:

  • Current highest interest rate is 7.10% by RBL Bank
  • Current lowest interest rate is 6.50% by Catholic Syrian Bank.

Other Govt Institutes:

Maturity TimeInstitutionInterest rate < 1 crFull details
1 YearPost Office fd6.80%Indian Post Office

To know more about the latest interest rates on Fixed Deposit schemes in your bank, please subscribe to our blog.

Also let us know if you don’t find your bank in the above list.


  1. Please advise f.D. rates of bank of India,, Uco Bank and S.B.I. from 12/09/2015 for general public and senior citizens. .

    • sir I have no source of income so I decided to sell my land so please give direction about interest so that i can remove my poverty

  2. Sir I want to ans about this question if I am FD 10000 for 10 year no senior citizen so how much amount getting me.

    • Sir, Interest rate depends on the bank to bank. Different banks have different interest rates.

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