Fix Deposit Interest Rates 2023, FD Interest Rates of all banks

Fix Deposit Interest Rates 2023: 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.

Top 10 Banks FD Rates 2023

Fixed Deposit Interest Rates of Small Finance Banks

Bank NameInterest Rates (% p.a.)
Highest slab1-year tenure3-year tenure5-year tenure
AU Small Finance Bank7.756.757.757.00
Capital Small Finance Bank Limited7.607.607.157.10
Equitas Small Finance Bank8.508.208.007.25
ESAF Small Finance Bank8.506.006.756.25
Fincare Small Finance Bank8.517.508.008.00
Jana Small Finance Bank8.507.257.356.00
North East Small Finance Bank8.506.507.256.25
Shivalik Small Finance Bank Limited8.007.508.007.00
Suryoday Small Finance Bank9.106.858.609.10
Ujjivan Small Finance Bank8.
Unity Small Finance Bank9.007.357.658.25
Utkarsh Small Finance Bank8.257.758.257.50

FD Interest Rates of Private Sector Banks

Bank NameInterest Rates (% p.a.)
Highest slab1-year tenure3-year tenure 5-year tenure
Axis Bank7.106.757.007.00
Bandhan Bank7.857.257.255.85
City Union Bank7.756.757.256.90
CSB Bank7.355.005.755.75
DBS Bank7.506.256.506.50
DCB Bank8.
Dhanlaxmi Bank7.256.756.506.60
Federal Bank7.256.806.606.60
HDFC Bank7.256.607.007.00
ICICI Bank7.106.707.007.00
IDBI Bank7.156.806.506.50
IDFC First Bank7.506.507.257.00
IndusInd Bank7.757.757.507.25
Jammu & Kashmir Bank7.107.106.506.50
Karnataka Bank7.307.006.506.50
Karur Vysya Bank7.307.007.006.25
Kotak Mahindra Bank7.207.106.506.20
Nainital Bank7.056.706.255.75
RBL Bank7.807.007.107.10
SBM Bank India7.757.057.307.75
South Indian Bank7.406.606.506.00
Tamilnad Mercantile Bank8.007.256.506.50
Yes Bank7.757.507.257.00

FD Rates for Public Sector Banks

Bank NameInterest Rates (% p.a.)
Highest slab1-year tenure 3-year tenure5-year tenure
Bank of Baroda7.256.757.056.50
Bank of India7.007.006.506.00
Bank of Maharashtra7.006.356.005.75
Canara Bank7.257.006.806.70
Central Bank of India7.106.756.256.25
Indian Bank7.
Indian Overseas Bank7.256.506.506.50
Punjab & Sind Bank7.356.406.256.25
Punjab National Bank7.256.757.006.50
State Bank of India7.106.806.506.50
UCO Bank7.056.506.306.20
Union Bank of India7.006.306.506.70

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.

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