Top 10 Best Fixed Deposit Rates in India
Fixed deposits (FDs) remain a popular investment choice in India due to their safety, predictable returns, and guaranteed principal. With various banks and financial institutions offering competitive interest rates, choosing the right FD can maximize your returns. Here’s a comprehensive guide to the top 10 best fixed deposit rates in India for 2024.
Top 10 Best Fixed Deposit Rates in India
1. IDFC FIRST Bank Fixed Deposit
IDFC FIRST Bank offers attractive FD rates, especially for senior citizens. With a reputation for competitive interest rates and flexible tenures, this FD is ideal for conservative investors seeking stable returns.
Interest Rate:
- General Public: Up to 7.00% p.a.
- Senior Citizens: Up to 7.50% p.a.
Tenure: 7 days to 10 years
2. HDFC Bank Fixed Deposit
HDFC Bank provides a range of FD options with competitive interest rates and flexible tenures. Their FD products are well-suited for individuals looking for stability and reliable returns.
Interest Rate:
- General Public: Up to 6.75% p.a.
- Senior Citizens: Up to 7.25% p.a.
Tenure: 7 days to 10 years
3. ICICI Bank Fixed Deposit
ICICI Bank is known for its high FD rates and customer service. They offer a variety of FD schemes, including options for senior citizens, with attractive interest rates.
Interest Rate:
- General Public: Up to 6.90% p.a.
- Senior Citizens: Up to 7.40% p.a.
Tenure: 7 days to 10 years
4. Axis Bank Fixed Deposit
Axis Bank provides competitive FD rates and a range of investment tenures. Their fixed deposit products are designed to offer both stability and flexibility.
Interest Rate:
- General Public: Up to 6.85% p.a.
- Senior Citizens: Up to 7.35% p.a.
Tenure: 7 days to 10 years
5. Kotak Mahindra Bank Fixed Deposit
Kotak Mahindra Bank offers attractive interest rates on their fixed deposits, with special rates for senior citizens. Their FDs come with various tenure options and features.
Interest Rate:
- General Public: Up to 6.90% p.a.
- Senior Citizens: Up to 7.40% p.a.
Tenure: 7 days to 10 years
6. State Bank of India (SBI) Fixed Deposit
SBI, being one of the largest banks in India, offers a range of FD options with competitive rates. Their fixed deposits are a safe choice with a wide range of tenures.
Interest Rate:
- General Public: Up to 6.70% p.a.
- Senior Citizens: Up to 7.20% p.a.
Tenure: 7 days to 10 years
7. Punjab National Bank (PNB) Fixed Deposit
PNB provides attractive FD rates with various tenures, making it a viable option for those seeking stable returns on their investment.
Interest Rate:
- General Public: Up to 6.75% p.a.
- Senior Citizens: Up to 7.25% p.a.
Tenure: 7 days to 10 years
8. Bank of Baroda Fixed Deposit
Bank of Baroda offers competitive FD rates and a range of flexible tenures. Their fixed deposits are ideal for conservative investors looking for secure returns.
Interest Rate:
- General Public: Up to 6.70% p.a.
- Senior Citizens: Up to 7.20% p.a.
Tenure: 7 days to 10 years
9. Federal Bank Fixed Deposit
Federal Bank offers high FD rates with various tenure options, including attractive rates for senior citizens.
Interest Rate:
- General Public: Up to 6.90% p.a.
- Senior Citizens: Up to 7.40% p.a.
Tenure: 7 days to 10 years
10. South Indian Bank Fixed Deposit
South Indian Bank provides competitive interest rates on fixed deposits with flexible tenure options. Their FD schemes are designed for stability and consistent returns.
Interest Rate:
- General Public: Up to 6.85% p.a.
- Senior Citizens: Up to 7.35% p.a.
Tenure: 7 days to 10 years
Fixed deposits continue to be a preferred choice for risk-averse investors seeking guaranteed returns. By choosing from the banks listed above, you can benefit from some of the best FD rates available in India for 2024. Always compare rates and terms across different institutions to find the FD that best suits your investment goals and needs.
Also read: Top 10 Natural Remedies for Common Indian Ailments
