FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (2024)

Table of Contents
Invest in India's favourite investment product What is Fixed Deposit Benefits of Fixed Deposits Assured Returns Surety at Maturity Faster Growth with Compound Interest Higher Rates for Senior Citizens 3 reasons why you need to include FD in your portfolio Reduces portfolio risk Brings certainty of returns Ensures goals that can't be delayed are met without a worry Our Partner at ET Money Higher Returns Strong Financials Flexible Payout Option Earn up to 8.5% interest on FD Best FD Interest Rates in India 2024 How to Invest on ET Money Fill FD details Setup investment account Payment Why ET Money Frequently asked questions Is it safe to invest in FD on ET Money? Can I withdraw my money from an ET Money's FD? Am I eligible to invest in Fixed Deposit? What is the minimum and maximum amount that can be deposited in Fixed Deposit What are the types of Fixed Deposit? What happens to my Fixed Deposit if interest rate goes up or down? Is Fixed Deposit taxable? Can I close Fixed Deposit prematurely? What is the penalty charge for the premature closure? What is loan against FD FAQs

Invest in India's favourite
investment product

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (1)

Book a Fixed Deposit

Guaranteed returns mean you can plan your future with confidence

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (2)

Get money as per your needs with flexible interest payout

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (3)

Enjoy the magic of compounding as interest earned gets reinvested

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (4)

Senior Citizens and longer tenures get higher interest rates

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (5)

What is Fixed Deposit

A fixed deposit or FD is an investment product offered by banks and Non-Banking Finance Companies (NBFCs). In FDs, you invest for a set amount of time and get a fixed interest rate... read more

You know at the time of investing what interest rate you will get and how much money you will receive at the time of maturity. You also get an option of selecting regular payout of interest. read less

Check Bajaj FD Rate

Benefits of Fixed Deposits

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (6)

    Assured Returns

    No matter how interest rates move or economy performs, you will get the returns fixed at the time of investing.

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (7)

    Surety at Maturity

    At the end of tenure, you get back the amount you put in along with the accumulated interest

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (8)

    Faster Growth with Compound Interest

    You earn interest on the interest amount too. This helps you accumulate a big amount with ease

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (9)

    Higher Rates for Senior Citizens

    Senior citizens can earn more from their life's savings and move one step closer to no-compromise retired life

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (10)

Get up to 8.5% returns on FD

Calculate

3 reasons why you need to include FD in your portfolio

Reduces portfolio risk

Investing a part of your money in products whose returns are not dependent on markets helps reduce overall risk

Brings certainty of returns

You can plan your future spends more confidently as you know how much money will come in and when

Ensures goals that can't be delayed are met without a worry

Assured returns, and safety of invested amount make sure you can meet these goals with ease.

Our Partner at ET Money

Earn up to 8.5% interest on FD

Calculate the maturity amount and interest earned on your investment using online FD calculator

  • By Deposit Amount
  • By Target Amount

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (12)

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (13)

    Bajaj Finance Ltd.

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (14)

    SBI Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (15)

    ICICI Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (16)

    Axis Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (17)

    HDFC Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (18)

    Bank of Baroda

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (19)

    IDFC Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (20)

    Kotak Mahindra Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (21)

    Canara Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (22)

    Yes Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (23)

    IndusInd Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (24)

    Punjab National Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (25)

    IDBI Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (26)

    Union Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (27)

    Citibank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (28)

    RBL Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (29)

    Indian Bank

₹ error

months error

  • 7.4%

  • Monthly7.4% p.a.

  • Quarterly7.4% p.a.

  • Half-Yearly7.4% p.a.

  • Yearly7.4% p.a.

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (30)Great! You're eligible for extra up to 0.25% p.a. interest

Interest rate

7%

Interest rate may vary

Maturity amount

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (31)₹ 1,41,478

Assured extra earnings ₹24,343

Deposit Now

ICICI bank deposit is not available with us yet.

ICICI bank is giving lower interest by
0.35% than Bajaj Finance Ltd.

View details of Bajaj Finance Ltd. FD

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (32)

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (33)

    Bajaj Finance Ltd.

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (34)

    SBI Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (35)

    ICICI Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (36)

    Axis Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (37)

    HDFC Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (38)

    Bank of Baroda

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (39)

    IDFC Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (40)

    Kotak Mahindra Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (41)

    Canara Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (42)

    Yes Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (43)

    IndusInd Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (44)

    Punjab National Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (45)

    IDBI Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (46)

    Union Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (47)

    Citibank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (48)

    RBL Bank

  • FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (49)

    Indian Bank

  • Monthly7.4% p.a.

  • Quarterly7.4% p.a.

  • Half-Yearly7.4% p.a.

  • Yearly7.4% p.a.

₹ error

months error

₹ error

months error

See Also
Personal Loan EMI Calculator - Calculate Your EMIs Online - Bajaj Finance Limited

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (50)Great! You're eligible for extra up to 0.25% p.a. interest

Interest rate

7.0%

Interest rate may vary

You need to invest in total

₹ 8,20,000

Assured extra earnings
₹3 Lakh

Getting ₹3 Lakh
assured returns

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (51)You will receive ₹5,000 monthly and ₹8,20,000 on maturity as principal amount

Deposit Now

ICICI bank deposit is not available with us yet.

ICICI bank is giving lower interest by
0.35% than Bajaj Finance Ltd.

View details of Bajaj Finance Ltd. FD

Best FD Interest Rates in India 2024

NameBank / NBFCRegular FD RatesSenior Citizen's FD Rates
Bajaj Finance Ltd. (NBFC) NBFC8.25% 8.5% Deposit Now
SBI Bank Bank7.10% 7.60% View details
ICICI Bank Bank7.20% 7.75% View details
Axis Bank Bank7.20% 7.85% View details
HDFC Bank Bank7.25% 7.75% View details
Bank of Baroda Bank7.25% 7.75% View details
IDFC Bank Bank8.00% 8.50% View details
Kotak Mahindra Bank Bank7.40% 7.90% View details
Canara Bank Bank7.40% 7.90% View details
Yes Bank Bank7.75% 8.25% View details
IndusInd Bank Bank7.75% 8.25% View details
Punjab National Bank Bank7.25% 7.75% View details
IDBI Bank Bank7.00% 7.50% View details
Union Bank Bank7.25% 7.75% View details
Citibank Bank7.20% 7.85% View details
RBL Bank Bank8.10% 8.60% View details
Indian Bank Bank7.25% 7.75% View details

How to Invest on ET Money

  • Fill FD details

    Select amount, tenure and interest payout type

  • Setup investment account

    Setup your Investment Account with MONEY by entering few details

  • Payment

    Make payment and your FD is done

Why ET Money

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (69)

Fast, easy and
paperless

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (70)

One-tap FD creation once your account is created.

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (71)

Multiple payments including Netbanking, UPI, NACH, and E-Mandate

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (72)

Assured 100% security and round-the-clock customer support

Frequently asked questions

Is it safe to invest in FD on ET Money?

NBFCs and Company FDs with high credibility ratings ensure that there are no delays in interest payouts, and your investment remains safe.

As the only Indian NBFC with an international rating of 'BBB' by S&P Global, Bajaj Finance Fixed Deposit is a good choice for investors seeking safe avenues to deposit their capital. It has also been certified with highest stability ratings with CRISIL's AAA/Stable & ICRA's AAA/Stable ratings. So this online FD offered on ET Money is one of the safest investment avenues, where your money remains unaffected by market fluctuations.

Can I withdraw my money from an ET Money's FD?

  • Upto 3 months from date of deposit: Withdrawal is not permitted.
  • After 3 months but before 6 months: Interest shall not be payable.
  • After 6 months but before the date of maturity: The rate of interest shall be 2% lower than the rate specified for the period during which the scheme has run. In case of no rate being specified for the deposit period, interest rate payable shall be 3% lower than the lowest rate offered by the BFL.

Am I eligible to invest in Fixed Deposit?

You can invest in Fixed Deposit if you are:

  • Resident Indians
  • Hindu Undivided Family (HUF)
  • Group Companies, Limited Companies, Partnership Firms
  • Sole Traders
  • Associations, Clubs and Societies
  • Family Trusts
  • Minors (through their natural or legally appointed guardian)

What is the minimum and maximum amount that can be deposited in Fixed Deposit

Minimum amount varies across Banks and NBFCs. It normally ranges from ₹1000 to ₹25,000. There is no upper limit on the maximum amount that can be deposited in Fixed Deposit.

What are the types of Fixed Deposit?

There are two types of Fixed Deposit: Cumulative and Non-cumulative. In Cumulative FD, you get interest payout at maturity along with the principal amount. In Non-cumulative FD, you get interests gains periodically at regular intervals(monthly, quarterly, half-yearly and yearly) and principal amount at maturity.

What happens to my Fixed Deposit if interest rate goes up or down?

FD is locked with a specific rate, you will continue to receive that rate till maturity, even if interest rates change later. If you wish to avail the new rate, you need to invest in a new Fixed Deposit.

Is Fixed Deposit taxable?

Yes, interest earned from FD is taxable. TDS is deducted on interest earned if it exceeds by ₹5000 per annum. However, you can submit form 15G/H to the Bank or NBFC to avoid tax deduction.

Can I close Fixed Deposit prematurely?

Yes, you can withdraw money prematurely after the 3 months of the deposit booked.

What is the penalty charge for the premature closure?

Withdrawing a fixed deposit before its maturity can result in a penalty in the form of a reduction in interest rate. This penalty varies with individual banks or NFCS. Typically, the penalty is between 0.5% and 1%, but it could also be higher in some cases.

What is loan against FD

In case of emergencies, instead of breaking Fixed Deposit, you can obtain loan against the deposited amount. The sanctioned amount is usually 60-75% of the fixed deposit amount and is offered at a competitive interest.

FD (Fixed Deposit) Interest Rates: Best FD Rates of Top Banks 2024 (2024)

FAQs

Which bank is best for fixed deposit 2024? ›

These are the best fixed deposit rates in Singapore 2024 for deposits $10,000 and under:
  • CIMB (3.25% p.a.—min. $10,000 for 3 months)
  • Bank of China (3.30% p.a.—min. $500 for 3 months)
  • ICBC (3.35% p.a.—min. $500 for 3 months)
  • DBS (3.20% p.a.—min. $1,000 for 12 months)
  • UOB (2.70% p.a.—min. $10,000 for 6 months)

Read On ›
What is the FD rate in 2024? ›

Latest SBI FD interest rates 2024
General PublicSenior Citizen
1 Year to less than 2 years6.86.8
2 years to less than 3 years77
3 years to less than 5 years6.756.75
5 years and up to 10 years6.56.5
5 more rows
2 days ago

Discover More Details ›
Which bank is paying highest FD rates? ›

Top Banks FD Interest Rates 2024
FD SchemeAll Bank FD Interest Rates 2024
HDFC Bank Tax Saving FD6.10% - 6.60%
IndusInd Bank Tax Saver Scheme6.75% - 7.50%
SBI Bank Tax Saving FD6.10% - 6.60%
RBL Bank Tax Saving FD6.55% - 7.05%
8 more rows

Continue Reading ›
Which bank has the highest fixed deposit rate? ›

Overall best fixed deposit rates—highest in Singapore (May 2024)
  • Syfe Cash+ Guaranteed (3.75% p.a.—3 or 6 months with no minimum amount)
  • StashAway Simple Guaranteed (3.75% p.a.—3 months with no minimum amount)
  • SBI (3.35% p.a.—min. $50,000 for 6 months)
  • ICBC (3.35% p.a.—min. $500 for 3 months)

See Details ›
Will interest rates stay high in 2024? ›

But until the Fed sees evidence of slowing economic growth, interest rates will stay higher for longer. The 30-year fixed mortgage rate is expected to fall to the mid-6% range through the end of 2024, potentially dipping into high-5% territory by the end of 2025.

Find Out More ›
Which bank is best for FD for senior citizens? ›

Among private sector banks, SBM Bank India provides best interest rate with 8.75 per cent on an FD for three years. DCB Bank provides 8.60 per cent for 25 months to 26 month FDs. RBL Bank follows with 8.60 per cent for 18 months to 2 years.

Tell Me More ›
Will bank interest rates go down in 2024? ›

How low will interest rates drop in 2024? It's difficult to predict how interest rates will change but, in December 2023, the Fed predicted it would lower the federal funds rate to 4.6% by the end of 2024. That's the rate banks charge each other to borrow money, so it directly impacts the rate consumers pay.

Show Me More ›
Where will interest rates be in 2025? ›

By April 2025, there's a 80% probability that the Fed's rate will be 4% or higher, according to the CME FedWatch tool, which uses futures pricing to predict rates.

Explore More ›
What is the interest rate of Bank of India in 2024? ›

The new rates are effective from 1 April 2024 and the customers can avail themselves of new interest rates ranging from 3.00% to 7.25% tenures ranging from seven days to 10 years. As per the latest rates, for FD tenures ranging from seven to 14 days, 15 to 30 days, and 31 to 45 days will offer interest at 3.00%.

Continue Reading ›
Which bank gives 9.5 interest on FD? ›

Unity Small Finance Bank

Show Me More ›

What is the highest FD rate for senior citizens? ›

Senior Citizen Fixed Deposit Rates 2024
Top Banks1 year - less than 2 years5 years - upto 10 years
HDFC7.10%7.75%
Post Office6.90%7.50%
Axis Bank7.60%7.75%
ICICI Bank7.65%7.50%
16 more rows

Read The Full Story ›
What is the interest of 10 lakh in SBI per month? ›

Monthly Interest on ₹10 Lakh Fixed Deposit
Bank/NBFC/HFCNon-Senior Citizen (p.a.)Monthly Interest Payout
Jana Small Finance Bank7.25%₹ 6,458
Kotak Mahindra Bank6.20%₹ 5,208
SBI6.50%₹ 6,250
AU Small Finance Bank7.25%₹ 6,458
12 more rows

See Details ›
Which is safest bank for fixed deposit? ›

HDFC Bank is often listed as the best FD scheme to invest in India.

Get More Info Here ›
Which bank gives 8 interest on FD? ›

Top 20 Scheduled Banks offering Best FD Rates
BanksHighest FD rate (% p.a.)5-year FD rate (% p.a.)
RBL Bank8.007.10
AU Small Finance Bank8.007.25
Fincare Small Finance Bank8.007.25
DCB Bank8.007.40
16 more rows

Continue Reading ›
Which bank is best for fixed deposit for 1 year? ›

Highest Fixed Deposit Interest Rates for 1 Year 2024
FD SchemeInterest RateSenior Citizen Rates
Central Bank of India FD6.75 %7.25 %
City Union Bank FD6.75 %7 %
South Indian Bank FD6.7 %7.2 %
Nainital Bank FD6.7 %7.2 %
16 more rows

View More ›
What is the best fixed deposit rate in February 2024? ›

Best Fixed Deposit Rates (February 2024): 1) Public Bank (min deposit: RM5,000) 3 months: 3.60% pa 6 months: 3.70% pa 9 months: 3.80% pa 12 months: 3.85% pa 2) RHB Bank (min deposit: RM1,000) 6 months: 3.80% pa (regular customers) 6 months: 3.90% pa (premier customers) 3) CIMB Bank (min deposit: RM1,000) 3 months: 3.65 ...

View Details ›
What will loan interest rates be in 2024? ›

Mortgage rate predictions 2024

The MBA's forecast suggests that 30-year mortgage rates will fall into the 6.4% to 6.7% range throughout the rest of 2024, and Fannie Mae is forecasting the same. NAR believes rates will average 7.1% this quarter and fall to 6.5% by the end of 2024.

See More ›
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