Bank FD Interest Rates 2024: Check Latest Fixed Deposit Rates for All Banks in India SBI PNB BOB HDFC ICICI Bank

Bank FD Interest Rates: Fixed Deposit (FD) is a popular investment option in India, providing safe returns with guaranteed interest. Different banks offer varying interest rates on FDs based on tenure, amount, and the customer’s profile (regular or senior citizen). Here, we provide the most up-to-date FD interest rates from major banks across India. You can check FD Interest Rate of all Banks in India – Government Banks and Private Banks here.

You can access FD interest rates of all banks in India in our app. In app you can access data in an organized manner anytime anywhere.

Government Banks (Public Sector Banks or PSU Banks) FD Interest Rate

• State Bank of India (SBI) FD Interest Rate
• Punjab National Bank (PNB) FD Interest Rate
• Bank of Baroda (BOB) FD Interest Rate
• Union Bank FD Interest Rate
• Canara Bank FD Interest Rate
• Bank of India (BOI) FD Interest Rate
• Central Bank of India FD Interest Rate
• Bank of Maharashtra (BOM) FD Interest Rate
• Punjab and Sind Bank (PSB) FD Interest Rate
• UCO Bank FD Interest Rate
• Indian Overseas Bank (IOB) FD Interest Rate
• Indian Bank FD Interest Rate

Private Banks FD Interest Rate

HDFC Bank	ICICI Bank	Axis Bank
IDBI Bank	Bandhan Bank	CSB Bank
City Union Bank	DCB Bank	Dhanlaxmi Bank
Federal Bank	Indusind Bank	IndusInd Bank
J&K Bank	Karnataka Bank	Karur Vysya Bank
Kotak Bank	Nainital Bank	RBL Bank
South Indian Bank	Tamilnad Mercantile	YES Bank

Senior Citizen FD Interest Rate & Super Senior FD Interest Rate

Senior citizens often enjoy higher FD interest rates than regular customers, with additional benefits such as higher returns and special tenure plans. Normally Banks offer 0.25% to 0.75% extra FD interest rate for Senior Citizens and Super Senior Citizens. You can check Senior Citizen FD Interest Rate & Super Senior FD Interest Rate of all banks via links provided above. You can also check FD Interest rates easily in our app. Click here to download our app.

FD (Fixed Deposit) FAQs

What is Fixed Deposit (FD)?

A Fixed Deposit (FD) is a financial instrument offered by banks that provides a higher rate of interest compared to a regular savings account. It involves depositing a lump sum amount for a fixed tenure with the bank.

Benefits of Fixed Deposits:

• Safety: FDs are considered a safe investment as they are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh.
• Guaranteed Returns: Fixed interest rates ensure predictable returns.
• Flexibility: Various tenure options are available, ranging from 7 days to 10 years.
• Loan Facility: Loans can be availed against the FD amount.

Types of Fixed Deposits:

• Regular Fixed Deposits: Standard FD accounts with fixed interest rates and tenure.
• Tax Saving Fixed Deposits: Offers tax benefits under Section 80C of the Income Tax Act, with a lock-in period of 5 years.
• Senior Citizen Fixed Deposits: Higher interest rates for senior citizens.
• Recurring Deposit: A type of FD where regular monthly deposits are made instead of a lump sum.

Factors Affecting FD Interest Rates:

• Tenure: Longer tenures generally offer higher interest rates.
• Amount: Higher deposit amounts may qualify for better interest rates.
• Bank Policies: Different banks have varying FD interest rates based on their financial policies.
• Economic Conditions: Interest rates may fluctuate based on the economy and monetary policy.

How to Calculate FD Interest (FD Formula):

• Simple Interest Formula: Simple Interest=P×R×T
• Compound Interest Formula:

A = P (1 + r/n)^nt

Where:

• ( P ) = Principal amount
• ( R ) = Annual interest rate
• ( T ) = Time in years
• ( n ) = Number of times interest is compounded per year
• ( A ) = Amount after interest