Fixed Deposits: Private Banks That Are Offering Over 7.5% Interest Rate

Team BankBazaar
Image source: Freepik

Fixed deposits (FD) are amongst the most popular investment option as they are the safest financial instrument. Many prominent private and public sector banks have recently revised their interest rates on FDs. You can open an FD account with the public, private, small finance as well as foreign banks. Take a look at interest rates offered by top private banks in India. 

Bank <1 Year >=1 to <=2 2 to <=3 3 to <=5
Axis Bank 6.4 6.5 6.5 6.5
Bandhan Bank 5.4 6.75 6.75 6.6
Catholic Syrian 6 6.5 6.25 6.25
City Union Bank 6 6.25 6.25 6.25
DCB Bank 6.65 7.5 7.6 7.5
Dhanlaxmi Bank 6.15 6.9 6.5 6.5
Federal Bank 6 6.5 6.4 6.4
HDFC Bank 5.9 6.15 6.25 6.15
ICICI Bank 6 6.3 6.4 6.4
IDFC First Bank 7 7.5 7.25 7.25
IndusInd Bank 6.25 6.75 6.75 6.75
J & K Bank 5.75 6.05 6.05 6
Karnataka Bank 6 6.25 6.15 6.15
Kotak Bank 6 6.2 6 6
Karur Vysya Bank 5.9 6.25 6.3 6.3
Lakshmi Vilas Bank 7.35 7.8 7.6 7.5
RBL Bank 6.65 7.2 7.25 7.15
South Indian Bank 6 6.55 6.4 6.4
Tamilnad Mercantile Bank 6.5 6.75 6.75 6.6
TNSC Bank 6.25 6.8 6.25 6.25
Yes Bank 7.15 7.5 7.5 7.25

Data as on respective banks’ website on 31 Mar 2020. For each year range, the maximum offered interest rate is considered; interest rate is for a normal fixed deposit amount below Rs. 1 crore. Compiled By BankBazaar.com, a neutral online marketplace for loans and credit cards.