• Post last modified:October 14, 2020
  • Reading time:6 min(s) read

(Note: We have used the following abbreviations: PSB for Government/ Public Sector Bank; PVT (L) for Large Private Sector Bank; PVT (O) for Small/Other Private Sector Bank; FB for Foreign Bank; SFB for Small Finance Bank; NBFC Non-Banking Financial Company.)

Enter the following details to find out investing in which Bank or Other Financial Institution is MOST PROFITABLE for you.
{For Domestic Deposits up to Rs. 2.00 Crore}

The Interest Rates offered by various Financial Institutions in Descending Order are:


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About Comparative Study of 56 Banks / Financial Institutions (FIs)

The recent decline in fixed deposit interest rates has affected many people living on interest income. The situation is further aggravated by high inflation which further reduces the effective return.

In India, the deposit products are offered by various Public Sector Bank, Private Sector Banks, Small Finance Banks, India Post Payments Bank, and Non-Banking Financial Companies (NBFCs). With the growth of technology, many banks/FIs are offering online deposits thereby reducing the dependence on physical branch networks.

To help in maximizing returns of depositors, we have compared interest rates offered by various Indian financial institutions on Fixed Deposits. The list contains the interest rate offered by these institutions on FDs of various tenures in descending order. Further, the list also provides interest rates offered to Senior Citizens as most banks/NBFCs offer a high rate of interest to Senior Citizens.

The depositors may compare the interest rates and choose the best-suited deposit product and make an informed decision. In addition to the highest deposit rate, the depositors must also compare the financial strength of the institutions before investing. You may consult your financial advisor if you are not well versed with a financial institution or leave a message in the comments section if you want us to give our views.

The ranking under the study is updated periodically so that it reflects the latest interest rates offered by various Banks/FIs. You may visit MoneyWay to make an informed decision whenever you want to invest in Deposits. 


Related article

Moneyway Fixed Deposit Calculator


We have tried to include most of the quality banks, NBFCs offering deposit products in India, however, in case you want us to include any other institution you may write to Moneyway and we will analyze the same.

The list of Financial Institutions included in the study is as under:

Public Sector Banks

STATE BANK OF INDIA
PUNJAB NATIONAL BANK
BANK OF BARODA
CANARA BANK
UNION BANK OF INDIA
BANK OF INDIA
INDIAN BANK
CENTRAL BANK OF INDIA
BANK OF MAHARASHTRA
INDIAN OVERSEAS BANK
UCO BANK
PUNJAB AND SIND BANK

Large Private Sector Banks

HDFC BANK
ICICI BANK
AXIS BANK
KOTAK MAHINDRA BANK

Other Private Sector Banks

BANDHAN BANK
FEDERAL BANK
IDFC FIRST BANK
CITY UNION BANK
CATHOLIC SYRIAN BANK
DCB BANK
KARNATAKA BANK
SOUTH INDIAN BANK
KARUR VYSYA BANK
LAKSHMI VILAS BANK
JAMMU & KASHMIR BANK
TAMILNAD MERCANTILE BANK
RBL BANK
YES BANK
INDUSIND BANK
IDBI BANK

Foreign Banks

CITI BANK
DBS BANK
HSBC BANK
DEUTSCHE BANK

Small Finance Banks

UJJIVAN SMALL FINANCE BANK
JANA SMALL FINANCE BANK
EQUITAS SMALL FINANCE BANK
AU SMALL FINANCE BANK
CAPITAL SMALL FINANCE BANK
FINCARE SMALL FINANCE BANK
ESAF SMALL FINANCE BANK
NORTH EAST SMALL FINANCE BANK
SURYODAY SMALL FINANCE BANK
UTKARSH SMALL FINANCE BANK

Non-Banking Financial Companies

HDFC LTD.
BAJAJ FINSERV
PNB HOUSING FINANCE LTD.
ICICI HOME FINANCE LTD.
MAHINDRA FINANCE LTD.
SHRIRAM TRANSPORT FINANCE LTD.
SHRIRAM CITY UNION FINANCE LTD.
LIC HOUSING FINANCE LTD.
KERALA TRANSPORT DEVELOPMENT FINANCE CORPORATION LTD. (KTDFC)

Moneyway Fixed/ Term Deposit Calculators

The manual calculation of the maturity value of FD can be a cumbersome task. Moneyway online fixed deposit calculator helps you to find maturity value & interest earned in a single click. All you have to do is to enter the amount of FD, Period of FD & interest on Fixed Deposit.

Further to remove the hassle of checking various bank websites for deposit rate of interest for different tenures we have developed customized bank-specific calculators with an inbuilt rate of interest of bank’s deposit scheme which helps you to compare and choose the best deposit product.

Suggested Reading

Sources:

https://sbi.co.in/web/interest-rates/deposit-rates/retail-domestic-term-depositshttps://www.pnbindia.in/Interest-Rates-Deposit.html

https://www.bankofbaroda.in/interest-rates-charges.htm

http://www.canarabank.com/User_page.aspx?othlink=9

https://www.unionbankofindia.co.in/english/interest-rate.aspx

https://www.bankofindia.co.in/RupeeTermDeposit

https://www.indianbank.in/wp-content/uploads/2018/12/Revision-of-Interest-on-Domestic-Term-Deposits.pdf

https://www.centralbankofindia.co.in/English/interestrate.aspx

https://bankofmaharashtra.in/domestic_term_deposits

https://www.iob.in/Domestic_Rates

https://www.ucobank.com/english/Interest-Rates.aspx

https://www.hdfcbank.com/personal/resources/rates

https://www.icicibank.com/interest-rates.page

https://www.axisbank.com/docs/default-source/interest-rates-new/rate-chart-fixed-deposit-wef-26-08-2020.pdf

https://www.kotak.com/en/personal-banking/deposits/fixed-deposit/fixed-deposit-interest-rate.html

https://www.yesbank.in/personal-banking/yes-individual/deposits/fixed-deposit-residents

https://www.indusind.com/in/en/personal/rates.html

https://www.idbibank.in/interest-rates.asp

https://www.bandhanbank.com/pdf/FD-Interest-Rates.pdf

https://www.federalbank.co.in/deposit-rate

https://www.idfcfirstbank.com/content/dam/IDFCFirstBank/Interest-Rates/Interest-Rate-Retail.pdf

https://www.idbibank.in/nri-interest-rates.asp

https://www.online.citibank.co.in/products-services/investments/deposits/deposits.htm

https://www.dbs.com/digibank/in/deposit/fixed-deposit/interest-rates.page

https://www.cityunionbank.com/web-page/deposit-interest-rate

https://csb.co.in/interest-rates

https://www.dcbbank.com/cms/showpage/page/dcb-fixed-deposits/ppage/deposit-rates

https://karnatakabank.com/personal/term-deposits/interest-rates

https://www.southindianbank.com/interestRate/interestRateDetails.aspx?irtID=1

https://www.kvb.co.in/interest-rates/resident-nro-deposits/

https://www.lvbank.com/interest-rate.aspx

https://www.jkbank.com/others/common/intrates.php

https://www.tmb.in/deposit-interest-rates.aspx

https://drws17a9qx558.cloudfront.net/document/PDF%20Pages/RevisionInterestRates-Circular.pdf

https://www.ujjivansfb.in/support-interst-rates

https://www.janabank.com/deposits/regular-fixed-deposit/

https://www.equitasbank.com/fixed-deposit

https://www.aubank.in/interest-rates

https://www.capitalbank.co.in/domestic-term-deposit

https://www.fincarebank.com/interest-rate

https://www.esafbank.com/interest-rates/

https://nesfb.com/Interest_Rates.php

https://www.suryodaybank.com/deposits/fixed-deposit/rate-of-interest

https://www.utkarsh.bank/public/web_public/pdf/comprehensive/FD_as_on_Sep_01_2020_Website_Update.pdf

https://www.hdfc.com/deposits#interest-rates

https://www.bajajfinserv.in/fixed-deposit-fees-and-interest-rates

https://www.pnbhousing.com/fixed-deposit/interests-rates/

https://www.icicihfc.com/fixed-deposit

https://mahindrafinance.com/investments/fixed-deposit#introduction

https://www.stfc.in/fixed-deposit/interest-rates/

https://www.shriramcity.in/fixed-deposit-interest-rates

https://www.lichousing.com/interest_rate.php

http://www.ktdfc.kerala.gov.in/deposites/interest-rates

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Chandrakantjha
Chandrakantjha
21 days ago

While giving the rate of interest on FD available at different firms or companies please also quote the credit rating agency and the ratings they give to the product.

Jaspreet
Jaspreet
Reply to  Chandrakantjha
20 days ago

Thanks for the suggestion dear. We will try to incorporate it soon at the time of updation of article.

Last edited 20 days ago by Jaspreet
Rajesh
Rajesh
15 days ago

RRB’s excluded from the list