FD interest rates: Before investing your money in a fixed deposit account, it is recommended to compare the interest rates offered by different banks and choose the one that offers the highest interest.
You may also want to opt for a bank with which you share an old banking relationship for personal reasons.
Here we list out the interest rates offered by the most popular banks on their one-year fixed deposits.
Interest rates offered by different banks
HDFC Bank: The largest private bank offers 6.25% interest to general citizens and 6.75% to senior citizens on its one-year term deposit.
ICICI Bank: On a one-year fixed deposit, this private lender offers 6.25% interest to general citizens and 6.75% to senior citizens. Meanwhile, the highest returns (6.6% and 7.1%) are offered on FD of two-year tenor and above.
Kotak Mahindra Bank: This private bank also offers 6.25% and 6.75% interest on one-year fixed deposits to general citizens and senior citizens, respectively. Additionally, the highest return is offered on tenor between 391 days and 23 months.
Federal Bank: It also offers 6.25% and 6.75% to general and senior citizens, respectively, on an FD of one-year tenor. The highest return (6.70%) is offered on a 999-day deposit tenor.
State lenders
State Bank of India (SBI): The largest state lender offers 6.25% to general citizens and 6.75% to senior citizens on a one-year fixed deposit. However, the highest returns (6.45 % and 6.95%) are offered for tenors between 2 and 3 years.
Union Bank: This state lender offers 6.40% on a one-year fixed deposit to general citizens and 6.90% to senior citizens. The highest return (6.6% and 7.1%) is given on a three-year fixed deposit.
Canara Bank: This state lender offers 6.25% and 6.75% to general and senior citizens, respectively, on one-year fixed deposits. The highest return of 6.50% and 7% is given on an FD tenor of 444 days.
Punjab National Bank: This state lender offers 6.25% to general citizens and 6.75% to senior citizens. The highest return (6.1% and 7.1%) is given when the tenor is 390 days.
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