Among all the banks and financial institutions, small finance banks are offering the best fixed deposit interest rates in India. Currently, Suryodaya Small Finance Bank is providing the highest FD interest rate of 9.01% (9.26% for senior citizens) for a tenure of 181 days and 501 days.
Know about the best fixed deposits rates by the top banks in India in this post.
Best Fixed Deposit Rates in India
The following are the best fixed deposit interest rates in India offered by small finance banks and commercial banks, both:
| Banks in India | FD Interest Rates (% p.a.) | |||
| Highest FD rate | Highest FD Rate | 1 year | 3 years | 5 years |
| Suryoday Small Finance Bank | 9.01 | 7.00 | 7.25 | 9.01 |
| Unity Small Finance Bank | 8.50 | 7.35 | 7.65 | 7.65 |
| ESAF Small Finance Bank | 8.00 | 5.50 | 5.75 | 5.25 |
| Ujjivan Small Finance Bank | 8.00 | 6.50 | 7.20 | 7,20 |
| Fincare Small Finance Bank | 8.00 | 6.75 | 7.00 | 7.00 |
| Utkarsh Small Finance Bank | 8.00 | 7.50 | 7.50 | 7.50 |
| North East Small Finance Bank | 7.75 | 5.25 | 7.00 | 6.50 |
| Jana Small Finance Bank | 7.55 | 7.00 | 7.55 | 7.25 |
| RBL Bank | 7.55 | 7.00 | 6.55 | 6.55 |
| Equitas Small Finance Bank | 7.50 | 7.10 | 7.40 | 6.75 |
| Bandhan Bank | 7.50 | 7.00 | 7.00 | 5.60 |
| Shivalik Small Finance Bank | 7.50 | 6.75 | 7.50 | 7.00 |
| DCB Bank | 7.50 | 6.75 | 7.50 | 7.25 |
| AU Small Finance Bank | 7.50 | 5.85 | 7.50 | 6.95 |
| Union Bank of India | 7.30 | 6.30 | 7.30 | 6.70 |
| IDFC First Bank | 7.25 | 6.50 | 6.50 | 6.50 |
| Yes Bank | 7.25 | 7.00 | 6.75 | 6.75 |
| Bank of India | 7.25 | 5.75 | 6.25 | 5.75 |
| SBM Bank | 7.00 | 6.75 | 7.00 | 7.00 |
| Punjab National Bank | 7.00 | 6.30 | 6.25 | 6.10 |
Note: Senior citizens get extra 0.25 – 0.50% in most of the cases. Please check the bank website for the updated information on the additional FD rates for senior citizens.
Did You Know?
Tax-saving FDs provide a maximum deduction of INR 1.5 lakh under Section 80C of the Income Tax Act, with a deposit limit of INR 1.5 lakh. The contract includes a five-year lock-in period. Senior citizens are entitled to an additional 0.50 per cent interest rate.
Best FD Rates by Small Finance Banks
| Small Finance Bank Name | FD Interest Rates (% p.a.) | |||
| Highest FD Rate | 1 year | 3 years | 5 years | |
| Suryodaya Small Finance Bank | 9.10 | 7.00 | 7.25 | 9.01 |
| Unity Small Finance Bank | 8.50 | 7.35 | 7.65 | 7.65 |
| ESAF Small Finance Bank | 8.00 | 5.50 | 5.76 | 6.25 |
| Ujjivan Small Finance Bank | 8.00 | 6.50 | 7.20 | 7.20 |
| Fincare Small Finance Bank | 8.00 | 6.75 | 7.00 | 7.00 |
| Utkarsh Small Finance Bank | 8.00 | 7.50 | 7.50 | 7.50 |
| North East Small Finance Bank | 7.75 | 5.25 | 7.00 | 6.50 |
| Jana Small Finance Bank | 7.55 | 7.00 | 7.55 | 7.25 |
| Equitas Small Finance Bank | 7.50 | 7.10 | 7.40 | 6.75 |
| AU Small Finance Bank | 7.50 | 5.85 | 7.50 | 6.95 |
| Shivalik Small Finance Bank | 7.50 | 6.75 | 7.50 | 7.00 |
Did you Know?
Senior citizens often get 0.25 per cent to 0.75% additional interest on fixed deposits.
Bank-wise FD Interest Rates in India
Below-mentioned are the best fixed deposit interest rates by various commercial banks and small finance banks in India. Please check the FD rates here:
Suryoday Small Finance Bank FD Rates
Suryoday Small Finance Bank FD rates range from 3.00-7.75% p.a. for the general public. Please check the table below for FD rates offered by the bank for different time periods:
| Highest slab rate | 9.01% p.a. (for 5 years) |
| For 1 year | 7.00% p.a. |
| For 2 years | 8.01% p.a. |
| For 3 years | 7.25% p.a. |
| For 4 years | 6.75% p.a. |
| For 5 years | 9.01% p.a. |
| Tax-Saving FD | 9.01% p.a. |
Unity Small Finance Bank FD Rates
Unity Small Finance Bank FD rates range from 3.00-7.75% p.a. for the general public. Please check the table below for FD rates offered by the bank for different time periods:
| Highest slab rate | 7.80% (for 1 year 1 day) |
| For 1 year | 7.35% p.a. |
| For 2 years | 7.40% p.a. |
| For 3 years | 7.65% p.a. |
| For 4 years | 7.65% p.a. |
| For 5 years | 7.65% p.a. |
Ujjivan Small Finance Bank FD Rates
Please check the table below for the Ujjivan Bank FD rates offered by the bank for different time periods:
| Highest slab rate | 8.00% (for 80 weeks) |
| For 1 year | 6.50% p.a. |
| For 2 years | 7.50% p.a. |
| For 3 years | 7.20% p.a. |
| For 4 years | 7.20% p.a. |
| For 5 years | 7.20% p.a. |
| Tax-Saving FD | 7.20% p.a. |
Fincare Small Finance Bank FD Rates
The following are the Fincare FD rates offered by the bank for different time periods:
| Highest slab rate | 8.00% (for 1000 days) |
| For 1 year | 6.75% |
| For 2 years | 6.75% |
| For 3 years | 7.00% |
| For 4 years | 7.00% |
| For 5 years | 7.00% |
| Tax-Saving FD | 7.00% |
Utkarsh Small Finance Bank FD Rates
Please check the table below for Utkarsh FD rates offered by the bank for different time periods:
| Highest slab rate | 8.00% p.a. (for 700 days) |
| For 1 year | 7.50% p.a. |
| For 2 years | 7.50% p.a. |
| For 3 years | 7.50% p.a. |
| For 4 years | 7.50% p.a. |
| For 5 years | 7.50% p.a. |
| Tax-Saving FD | 7.50% p.a. |
North East Small Finance Bank FD Rates
Below-mentioned are the North East Bank FD rates for different time periods:
| Highest slab rate | 7.75% p.a. (for 1111 days) |
| For 1 year | 5.25% p.a. |
| For 2 years | 7.00% p.a. |
| For 3 years | 7.00% p.a. |
| For 4 years | 6.50% p.a. |
| For 5 years | 6.50% p.a. |
Jana Small Finance Bank FD Rates
Check the table below for Jana FD rates offered by the bank for different time periods:
| Highest slab rate | 7.55% p.a. (for above 2 years to 3 years) |
| For 1 year | 7.00% p.a. |
| For 2 years | 7.50% p.a. |
| For 3 years | 7.55% p.a. |
| For 4 years | 7.35% p.a. |
| For 5 years | 7.25% p.a. |
| Tax-Saving FD | 7.25% p.a. |
SBI FD Rates
Please check the table below for the SBI FD rates offered by the bank for different time periods:
| Highest slab rate | 6.25% p.a. (for 2 years to less than 3 years) |
| For 1 year | 6.10% p.a. |
| For 2 year | 6.25% p.a. |
| For 3 year | 6.10% p.a. |
| For 4 year | 6.10% p.a. |
| For 5 year | 6.10% p.a. |
| Tax-Saving FD | 6.10% p.a. |
RBL Bank FD Rates
Please check the table below for the RBL Bank FD rates offered for different time periods:
| Highest slab rate | 7.00% (from 15 months to 725 days) |
| For 1 year | 7.00% p.a. |
| For 2 years | 7.00% p.a. |
| For 3 years | 6.55% p.a. |
| For 4 years | 6.55% p.a. |
| For 5 years | 6.55% p.a. |
| Tax-Saving FD | 6.55% p.a. |
Union Bank of India FD Rates
Please check the table below for the Union Bank FD rates offered by the bank for different time periods:
| Highest slab rate | 7.30% p.a. (for 800 days; 3 years) |
| For 1 year | 6.30% p.a. |
| For 2 years | 6.30% p.a. |
| For 3 years | 7.30% p.a. |
| For 4 years | 6.70% p.a. |
| For 5 years | 6.70% p.a. |
| Tax-Saving FD | 6.70% p.a. |
IDFC First Bank FD Rates
Please check the table below for the IDFC First fixed deposit rates offered by the bank for different time periods:
| Highest slab rate | 7.25% (for 750 days) |
| For 1 year | 6.50% p.a. |
| For 2 years | 6.75% p.a. |
| For 3 years | 6.50% p.a. |
| For 4 years | 6.50% p.a. |
| For 5 years | 6.50% p.a. |
| Tax-Saving FD | 6.50% p.a. |
YES Bank FD Rates
Please check the table below for the YES Bank FD rates for different time periods:
| Highest slab rate | 7.25% p.a. (for 20 months to 22 months) |
| For 1 year | 7.00% p.a. |
| For 2 years | 7.00% p.a. |
| For 3 years | 6.75% p.a. |
| For 4 years | 6.75% p.a. |
| For 5 years | 6.75% p.a. |
| Tax-Saving FD | 6.75% p.a. |
SBM Bank FD Rates
The following are the SBM Bank fixed deposit interest rates for different FD tenure:
| Highest slab rate | 7.00% |
| For 1 year | 6.75% p.a. |
| For 2 years | 6.40% p.a. |
| For 3 years | 7.00% p.a. |
| For 4 years | 7.00% p.a. |
| For 5 years | 7.00% p.a. |
Punjab National Bank FD Interest Rates
Please check the table below for the PNB FD rates for different time periods:
| Highest slab rate | 7.00% p.a. (for 600 days) |
| For 1 year | 6.30% p.a. |
| For 2 years | 6.30% p.a. |
| For 3 years | 6.25% p.a. |
| For 4 years | 6.10% p.a. |
| For 5 years | 6.10% p.a. |
| Tax-Saving FD | 6.10% p.a. |
Who Should Invest in a Fixed Deposit?
If you’re looking for guaranteed returns on your investment
The Best Fixed Deposit Rates in India booked at account opening are locked in until maturity, regardless of the FD card rate changes. For example, if a person opens a three-year bank fixed deposit at 6% p.a., the interest rate will be selected for three years. Consequently, the best fixed deposit schemes have significantly more income certainty than other modest saving programs.
If risk-free investment is your goal
Fixed deposits with scheduled banks are insured by the DICGC deposit insurance system, which is an RBI subsidiary. In the case of failure, insurance covers cumulative bank deposits, including fixed deposits, recurring deposits, savings accounts, and current accounts, up to INR 5 lakh per bank and depositor.
Please note: It includes scheduled commercial banks and small finance banks only. Company deposits are not included in the DICGC deposit insurance.
If You Want to Save on Income Tax
Many banks and non-bank financial companies provide 5-year tax-free fixed-rate deposits with a 5-year lock-in period. These also provide some of the best fixed deposit rates in India. An investment of up to INR 1.5 lakh can be claimed as a tax deduction under Section 80C of the Income Tax Act. Please note that the interest earned on such FDs is taxable.
Best Fixed Deposit Rates: FAQs
Currently, Suryodaya Small Finance Bank is offering the highest interest (9.01%) on fixed deposit investments.
Some banks allow customers penalty-free early withdrawals. However, if the FD is closed within 7 days of the booking date, the bank or organisation is not obligated to pay interest.
Read more about Senior Citizen FD Rates.
