Top Fixed Deposit Interest Rates in July 2020

Fixed Deposit Highlights 

• Most large banks like SBI have brought down their FD rates. 

• Most banks offer FDs for residency of 7 Days to 10 Years. 

• The Ratnakar Bank IDBI Bank and Karnataka Bank (for minors) do offer fixed deposits as long as 20 years as well. 

• For exceptionally transient Deposits the interest rate is like that of Savings Account thus you ought not stress over FD. Likewise Interest up to Rs 10,000 in Saving Account is without tax. 

• Most banks progressive accrual quarterly 

• Banks offer Loan/Overdraft against the amount accessible in Fixed Deposit. The interest is commonly 0.5% to 1% more than that offered to FD. 

• TDS (Tax derivation at source) at the rate of 10% is deducted, if the interest pay is more than Rs 40,000 in money related year per bank (changed from Rs 10,000 cutoff in Budget 2019) 

• If there should arise an occurrence of Senior citizens TDS would be deducted at the rate of 10%, if the interest pay surpasses Rs 50,000 

• On the off chance that the PAN number isn't refreshed with the bank, the TDS rate is 20% 

• There may be punishment for pre-experienced withdrawal of Fixed Deposits 

Top Fixed Deposit Interest Rates 

The most elevated interest rate on fixed deposit is offered by RBL Bank (three years to three years 1 day) at 7.50%. 

For looking at the wellbeing rates on fixed deposits over various span of investment, we have it isolated into following 5 chunks: 

• FD for Less than 1 Year 
• FD for 1 to 2 years 
• FD for 2 to 5 Years 
• FD for 5 to 10 years 
• FD for More than 10 years 

We show the most elevated interest rates on fixed deposits for the above span pails. We have additionally thought about the wellbeing rates on offer by that being offered by State Bank of India (SBI), ICICI Bank and Post Offices. 

Best Fixed Deposit Interest Rates for Less than A  Year (1 Year)

The most elevated interest rate is offered by IDFC First Bank (181 days - under 1 year) at 7.00%. 

Bank                                                                Description                          Interest Rate 

IDFC First Bank                                   181 days - under 1 year                          7.00% 

IDFC First Bank                                            91 - 180 days                                   6.75% 

RBL Bank                                                  181 days to 364 days                          6.65% 

DCB Bank                                          6 months to under 12 months                 6.60% 

IDFC First Bank                                             46 - 90 days                                   6.50% 

Indeed Bank                                            6 months to < 1 Year                           6.50% 

RBL Bank                                                  91 days to 180 days                            6.40% 

Bandhan Bank                                         1 year to 18 months                             6.25% 

IDFC First Bank                                           30 - 45 days                                     6.25% 

IndusInd Bank                                      270 days or under 1 years                    6.25% 

RBL Bank                                                  46 days to 90 days                              6.15% 

Standard Charted Bank                              210 to 364 days                               6.10% 

DCB Bank                                            91 days to under 6 months                     6.00% 

IndusInd Bank                                           181 days to 269 days                        6.00% 

Standard Charted Bank                              90 to 210 days                                 6.00% 

 

Indeed Bank                                            3 months to < 6 months                     6.00% 

Lakshmi Vilas Bank                                       181 - 364 Days                              5.80% 

IndusInd Bank 91 days to 180 days 5.75% 

Tamilnad Mercantile Bank 271 days to under 1 year 5.75% 

Lakshmi Vilas Bank 91-180 Days 5.70% 

South Indian Bank 361 days - 10 Years 5.70% 

Indian Overseas Bank                                 270 days to < 1 year 5.60% 

Karnataka Bank 91 days to 364 days 5.60% 

Tamilnad Mercantile Bank 180 - 270 days 5.60% 

DCB Bank 15 days to 90 days 5.50% 

Dhanlaxmi Bank 180 days to short of what one year 5.50% 

IndusInd Bank 61 days to 90 days 5.50% 

Standard Charted Bank 45 to 89 days 5.50% 

Tamilnad Mercantile Bank 91 to 179 days 5.50% 

RBL Bank 15 days to 45 days 5.50% 

Hub Bank 11 months 25 days < 1 year 5 days 5.45% 

Karur Vysya Bank 91 Days to under 1 year 5.45% 

Indian Overseas Bank                                    180-269 days 5.35% 

Tamilnad Mercantile Bank 46 - 90 Days 5.25% 

South Indian Bank 91 days - 360 days 5.20% 

Bandhan Bank 6 months to under 1 year 5.15% 

Indian Overseas Bank                                   121-179 days 5.10% 

Punjab and Sind Bank                                 270 - 364 Days 5.10% 

Bank of India 180 days to under 1 year 5.00% 

CSB Bank 181 days to under 1 Year 5.00% 

City Union Bank 271 days - 364 days 5.00% 

Dhanlaxmi Bank 91 days to 179 days 5.00% 

IDFC First Bank 15 - 29 days 5.00% 

Punjab and Sind Bank                                 180 - 269 Days 5.00% 

Canara Bank                                         180 days to under 1 Year 4.85% 

National Bank of India                                 180 - 364 days 4.80% 

ICICI Bank 290 days to under 1 year 4.75% 

State Bank of India  211 days to under 1 year 4.40% 

Best Fixed Deposit Interest Rates for 1 to 2 Years 

The most elevated interest rate is offered by DCB Bank (year and a half) and IDFC First Bank (1 Year to 10 Years) at 7.25%. 

Bank Description Interest Rate 

DCB Bank 18 months 7.25% 

IDFC First Bank 1 year to 10 years 7.25% 

DCB Bank More than year and a half to under 36 months 7.20% 

RBL Bank 12 months to under 24 months 7.20% 

DCB Bank 15 months to under 18 months 7.00% 

DCB Bank 12 months 1 day to under 15 months 6.90% 

Lakshmi Vilas Bank 400 Days 6.75% 

Indeed Bank 1 year to 10 years 6.75% 

Standard Charted Bank 1 Year to 375 days 6.30% 

Bandhan Bank 1 year to 18 months 6.25% 

IndusInd Bank 1 Years to under 3 years 6.25% 

Lakshmi Vilas Bank 365 Days to under 3 Years 6.25% 

Bandhan Bank Above year and a half to under 3 years 6.15% 

Tamilnad Mercantile Bank 1 Year to under 2 years 6.10% 

Tamilnad Mercantile Bank 2 years to under 3 years   6.00% 

South Indian Bank 18 months 5.90% 

Tamilnad Mercantile Bank 3 years - 10 years 5.90% 

Dhanlaxmi Bank 640 days 5.85% 

Government Bank 15 Months 5.85% 

Dhanlaxmi Bank 500 days 5.80% 

Dhanlaxmi Bank Above 2 years up to and comprehensive of 10 years 5.80% 

Karur Vysya Bank 1 year to under 2 years 5.80% 

CSB Bank 15 months 5.75% 

City Union Bank Above 1 year - up to 3 years 5.75% 

Dhanlaxmi Bank 1 Year or more up to and comprehensive of 2 years 5.75% 

IDBI Bank > 1 year - 2 years 5.75% 

Indian Overseas Bank                                        444 days 5.75% 

Karnataka Bank 1 year to 2 Years 5.75% 

Government Bank Above 1 Year 5.70% 

IDBI Bank 1 Year 5.70% 

Indian Overseas Bank                          long term to < 10 years 5.70% 

South Indian Bank 361 days - 10 Years 5.70% 

Government Bank 1 year 5.60% 

Punjab and Sind Bank  1 Year - 10 Years 5.55% 

Bank of India 1 Year and above yet under 2 Yrs 5.50% 

Canara Bank                            long term and above to under 3 years 5.50% 

CSB Bank 1 Year to 10 Years 5.50% 

City Union Bank 1 year 5.50% 

DCB Bank 12 months 5.50% 

Hub Bank 11 months 25 days < 1 year 5 days 5.45% 

Hub Bank 18 Months < 2 years 5.45% 

Hub Bank 1 year 5 days < 18 months 5.40% 

ICICI Bank 1 year < 18 months 5.15% 

ICICI Bank 18 months  to 3 years 5.35% 

State Bank of India                               1 years to under 3 years 5.10% 

Mail center FD 1 Year 5.50% 

 

Mail center FD 2 years 5.50% 

Best Fixed Deposit Interest Rates for 2 to 5 Years 

The most noteworthy interest rate is offered by RBL Bank (three years to three years 1 day) at 7.50% 

Bank Description Interest Rate 

RBL Bank 36 months to three years 1 day 7.50% 

DCB Bank 36 months to 120 months 7.35% 

IDFC First Bank 1 year to 10 years 7.25% 

RBL Bank 24 months to under 36 months 7.25% 

DCB Bank More than year and a half to under 36 months 7.20% 

Deutsche Bank 5 years 7.00% 

  

RBL Bank 36 months 2 days to under 60 months 7.00% 

Truly Bank 2 years < 3 years 7.00% 

IndusInd Bank 3 years to under 61 month 6.75% 

Truly Bank 1 year to 10 years 6.75% 

IndusInd Bank 1 Years to under 3 years 6.25% 

Lakshmi Vilas Bank 365 Days to under 3 Years 6.25% 

Standard Charted Bank 375 days to under 3 years 6.20% 

Bandhan Bank Above year and a half to under 3 years 6.15% 

Bandhan Bank 3 years to under 5 years 6.10% 

Lakshmi Vilas Bank 3 Years to under 10 Years 6.10% 

Karur Vysya Bank 3 years and above 6.00% 

Standard Charted Bank 3 years to 5 years 6.00% 

Tamilnad Mercantile Bank 3 years - 10 years 5.90% 

Karur Vysya Bank 2 years to under 3 years 5.85% 

Dhanlaxmi Bank Above 2 years upto and comprehensive of 10 years 5.80% 

IDBI Bank 5 years 5.80% 

City Union Bank Above 1 year - up to 3 years 5.75% 

Karnataka Bank Above 2 Year to 10 years 5.75% 

Government Bank Above 1 Year 5.70% 

IDBI Bank >2 years to < 5 years 5.70% 

Indian Overseas Bank                 long term to < 10 years 5.70% 

South Indian Bank 361 days - 10 Years 5.70% 

Punjab and Sind Bank  1 Year to 10 Years 5.55% 

Hub Bank 2 years < 10 years 5.50% 

City Union Bank Above 3 years - up to 5 years 5.50% 

ICICI Bank 18 months   to 3 years 5.35% 

ICICI Bank 3 years 1 day to 10 years 5.50% 

State Bank of India                        1 years to under 3 years 5.10% 

State Bank of India                        3 years to under 5 years 5.30% 

Mailing station FD 2 years 5.50% 

Mailing station FD 3 years 5.50% 

Mailing station FD 5 years 6.70% 

Best Fixed Deposit Interest Rates for 5 to 10 Years 

The most elevated interest rate is offered by DCB Bank (three years to 120 months) at 7.35%. 

Bank Description Interest Rate 

DCB Bank 36 months to 120 months 7.35% 

IDFC First Bank 1 year to 10 years 7.25% 

RBL Bank 60 months to under 120 months 7.15% 

Truly Bank 1 year to 10 years  6.75% 

IndusInd Bank 61 month and above 6.65% 

Lakshmi Vilas Bank 3 Years to under 10 Years 6.10% 

Bandhan Bank 5 years to up to 10 years 6.00% 

 

Karur Vysya Bank 3 years and above 6.00% 

Tamilnad Mercantile Bank 3 years - 10 years 5.90% 

 

Dhanlaxmi Bank Above 2 years up to and comprehensive of 10 years 5.80% 

 

Karnataka Bank Above 2 Year - 10 years 5.75% 

 

Government Bank Above 1 Year 5.70% 

IDBI Bank > 5 years - 7 years 5.70% 

Indian Overseas Bank                      long term to < 10 years 5.70% 

South Indian Bank 361 days - 10 Years 5.70% 

Punjab and Sind Bank  1 Year to 10 Years 5.55% 

Pivot Bank 2 years < 10 years 5.50% 

ICICI Bank 3 years 1 day - 10 years 5.50% 

State Bank of India                        5 years and up to 10 years 5.40% 

 

Mailing station FD 5 years 6.70% 

Best Fixed Deposit Interest Rates for over 10 Years 

The Ratnakar Bank and IDBI bank offers fixed deposit of as long as 20 years. 

Bank Description Interest Rate 

RBL Bank 120 months to 240 months 6.65% 

Karnataka Bank More than 10 years (Minor Deposit Scheme) 5.65% 

IDBI Bank >10 years - 20 years 5.50% 

Source: Bank Websites Last Updated: July 6, 2020 

Disclaimer: The Fixed Deposit Interest Rates continue evolving. You are encouraged to check the interest rates with banks prior to making your FD.