Fix Deposit Interest Rates 2020, FD Interest Rates of all banks 2020

Fix Deposit Interest Rates 2020: Bank Fixed Deposit ensures that your earnings grow steadily and effortlessly. Its key features like attractive interest rates, multiple interest payout options, and zero penalty on premature closure make it the ideal investment for your hard-earned money.

A fixed deposit is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. Wikipedia

The Banks offers a wide range of Fixed Deposits (FDs) that offer a good rate of return and come with various other benefits. Some of the features of Bank FDs include nomination facility, flexible tenure options, auto renewal facility, different interest payout options, loan/overdraft facility, Etc. It is very easy to open an Bank FD online and this can be done at the click of a button in a paper-free manner.

Fix Deposit Interest Rates 2020

BankFD Rate of InterestSenior Citizen FD Rates
SBI Fixed Deposit4.50% – 6.10%5.00% – 6.60%
HDFC Bank Fixed Deposit3.50% – 6.40%4.00% – 6.90%
ICICI Bank Fixed Deposit4.00% – 6.40%4.50% – 6.90%
Axis Bank3.50% – 6.50%3.50% – 7.15%
Kotak Bank3.50% – 6.30%4.00% – 6.80%
IDFC First Bank4.00% – 7.50%4.50% – 8.00%
Bank of Baroda4.50% – 6.25%5.00% – 6.75%
Citibank3.00% – 5.25%3.50% – 6.00%
IDBI Bank3.50% – 6.45%4.00% – 6.95%
Indian Bank4.50% – 6.40%5.00% – 6.90%
Indian Overseas Bank4.50% – 6.35%5.25% – 7.10%
OBC4.50% – 6.25%5.00% – 6.75%
PNB4.50% – 6.30%5.00% – 6.80%
HDFC7.50% – 7.50%7.75% – 7.75%
PNB Housing Finance8.00% – 8.15%8.25% – 8.40%
Allahabad Bank4.95% – 6.50%4.95% – 6.50%
Andhra Bank3.50% – 6.10%4.00% – 6.60%
Bank of India4.25% – 6.40%4.75% – 6.90%
Bank of Maharashtra4.25% – 6.00%4.25% – 6.50%
Canara Bank4.50% – 6.30%5.00% – 6.80%
Central Bank of India4.50% – 6.25%5.00% – 6.75%
Punjab and Sind Bank4.00% – 6.45%4.50% – 6.95%
UCO Bank4.50% – 6.30%4.75% – 6.80%
Union Bank of India5.00% – 6.45%5.50% – 6.95%
United Bank of India4.00% – 6.50%4.00% – 6.50%
Yes Bank5.00% – 7.50%5.50% – 8.00%
Syndicate Bank4.50% – 6.50%5.00% – 7.00%
Standard Chartered Bank4.25% – 6.60%4.25% – 6.60%
Dhan Laxmi Bank4.00% – 6.90%4.50% – 7.40%
Bajaj Finserv7.60% – 8.10%7.85% – 8.35%
LIC Housing Finance7.50% – 7.60%7.75% – 7.85%
Federal Bank3.50% – 6.60%4.00% – 7.10%
AU Small Finance Bank5.25% – 7.77%5.75% – 8.27%
Corporation Bank4.55% – 6.55%5.05% – 7.05%
IndusInd Bank4.00% – 6.75%4.50% – 7.25%
ESAF Small Finance Bank5.50% – 8.00%6.00% – 8.50%
RBL Bank5.00% – 7.45%5.50% – 7.95%
HSBC Bank3.00% – 6.00%3.50% – 6.50%
DCB Bank5.40% – 7.60%5.90% – 8.10%
South Indian Bank4.00% – 6.70%4.50% – 7.20%
Bandhan Bank3.50% – 6.95%4.25% – 7.70%
Lakshmi Vilas Bank4.50% – 7.80%4.50% – 8.40%
Equitas Small Finance Bank5.00% – 8.25%5.60% – 8.85%
Jana Small Finance Bank5.00% – 8.50%5.60% – 9.10%
DHFL8.50% – 9.25%9.00% – 9.75%
Karnataka Bank3.50% – 6.50%4.00% – 7.00%
DBS Bank4.00% – 6.50%4.00% – 6.50%
Jammu And Kashmir Bank4.50% – 6.30%5.00% – 6.80%
Ujjivan Small Finance Bank5.50% – 8.10%6.00% – 8.60%
Fincare Small Finance Bank4.00% – 9.00%4.50% – 9.50%
Karur Vysya Bank4.40% – 6.45%4.40% – 6.95%

TDS on Bank Fixed Deposit Interest?

Remember, that Bank FDs attract a TDS, if the interest amount is over Rs 10,000. Therefore, it is imperative that you plan your FDs accordingly. You can submit tax saving form 15g or 15h, if you do not want tax to be deducted by the bank on the interest income of the fixed deposits.

Apply Through Mobile Banking:

  • Step I: Login to Mobile Banking and select the deposit option.
  • Setp II: Select option Open FD
  • Step III: Fill in the required account and nominee details
  • Step IV: On confirmation, the selected amount will be debited from your Savings Account and your Fixed Deposit will be created instantly. You will get a web receipt of the Fixed Deposit booked instantly. The value for opening of the deposit and the rate applicable will be as per the date of request i.e. the day on which the Savings Account is debited.
  • Step V: Post creation, the Fixed Deposit advice will be mailed to your registered e-mail id if you are registered for e-statement. In case you are not registered for e-statements, physical advice will be dispatched to your communication address. Also, you will be able to view the Fixed Deposit advice in Mobile Banking after one working day of deposit booking.