Best Download 2017

The table above provides the best fixed deposit rates for the selected duration and deposit amount. Use the slider to change the FD amount. The FD duration can be updated by using the duration dropdown. If you are a senior citizen, please choose the appropriate status so that you see the correct Senior Citizen FD rate.

The fixed deposit schemes offered by most banks can be availed for tenures ranging from as short as seven days to as long as 10 years. Few of the banks, such as the State Bank of Patiala, IDBI Bank, the Ratnakar Bank, etc. offer FDs that stretch to 20 years as well. The FD rates applicable to schemes with short tenures is very similar to the interest rates applicable to Savings Account. The interest on FDs is compounded on a quarterly basis.

Individuals who invest in fixed deposit can avail overdraft / loan facilities from the bank against the amount in their fixed deposit accounts. The interest rate charged for loans / overdrafts is usually 0.5% or 1% in addition to the interest rate applicable to the fixed deposit itself. In case the income earned from fixed deposit rates in a given financial year is over Rs.10,000, the investor can claim tax deductions at the rate of 10%.