All Bank Fixed Deposit Interest Rate: All you need to Know

Want to park away your investment without constant monitoring? Well, in this hectik life who has the time to monitor the footsteps of their investments day wise? It is easy to employ your funds in fixed deposit, a safe investment vehicle for all your needs where you don't have to seek supervision for your generated returns.

 

The time horizon you prefer investing along with the principal amount find its safe zone irrespective of the changes in monetary policies by the Government of India.

Fixed deposit as you know have been loved by all across the times throughout generations. It is believed to be a safe pavement for your returns to grow amidst time and principal amount. Now the question arises: which bank to consider? It's on you which bank to consider for your investment to give time to multiply through the power of compounding? Let's find out what rates various banks have to offer you.

Fixed Deposit Interest Rates in India

Explore various banks for fixed deposit interest rates on amount below ₹ 1 crore for both regular and senior citizens:

1. State Bank of India

Regular Citizen : 6.25% p.a.

Senior Citizen: 6.75% p.a.

2. ICICI Bank

Regular Citizen : 6.50% p.a.

Senior Citizen: 7.00% p.a.

3. HDFC Bank

Regular Citizen : 6.00% p.a.

Senior Citizen: 6.50% p.a.

4. Punjab National Bank

Regular Citizen : 6.25% p.a.

Senior Citizen: 6.75% p.a.

5. Axis Bank

Regular Citizen :6.25% p.a.

Senior Citizen: 6.75% p.a.

6. Canara Bank

Regular Citizen : 6.00% p.a.

Senior Citizen: 6.50% p.a.

7. Bank of Baroda

Regular Citizen : 6.50% p.a.

Senior Citizen: 7.00% p.a.

8. IDBI Bank

Regular Citizen : 6.00% p.a.

Senior Citizen: 6.50% p.a.

9. Bank of India

Regular Citizen : 6.25% p.a.

Senior Citizen: 6.75% p.a.

10. Bandhan Bank

Regular Citizen : 6.40% p.a.

Senior Citizen: 6.90% p.a.

Now let's explore various banks for fixed deposit interest rates on amount above ₹ 1 crore for both regular and senior citizens:

1.State Bank of India

Regular Citizen : 4.25% p.a.

Senior Citizen: 4.75% p.a.

2. ICICI Bank

Regular Citizen : 6.45% p.a.

Senior Citizen: 6.45% p.a.

3. HDFC Bank

Regular Citizen : 4.85% p.a.

Senior Citizen: 5.35% p.a.

4. Punjab National Bank

Regular Citizen : 4.50% p.a.

Senior Citizen: 4.50% p.a.

5. Axis Bank

Regular Citizen : 6.00% p.a.

Senior Citizen: 6.50% p.a.

6. Bank of Baroda

Regular Citizen : 5.25% p.a.

Senior Citizen: 5.25% p.a.

7. IDBI Bank

Regular Citizen : 5.50% p.a.

Senior Citizen: 5.50% p.a.

8. Bank of India

Regular Citizen : 4.25% p.a.

Senior Citizen: 4.25% p.a.

Fixed Deposit Interest Rate Calculator

Fixed Deposit Interest Rate calculator helps you in calculating the interest that your money will generate when employed in a fixed deposit of any bank. This will help you in getting the desired result which you are looking for. The FD Calculator discloses the principal amount on maturity which you will be getting along with the interest compounded on days or monthly, quarterly, half-yearly and yearly basis. The real figures show you the clear picture of your earnings at the end of your chosen tenure.

Fixed Deposit Form

Are you prepared to undertake fixed deposit from any of your chosen banks? Well, it's the time to fill up the application form which is compulsory for your application towards rendering your fixed deposit scheme. Simply log-in to the website of any Bank and download the application form. Fill the details such as your name,  joint account holder's name, house address, PAN number, phone number, deposit amount and tenor, attached with the nomination form which is required to start the cycle of your FD at your chosen time period.

Benefits of Fixed Deposits

• Guaranteed Returns : Fixed deposit is a safe investment vehicle which offers guaranteed returns on the amount of your investment.

• Develops saving habit : The investment deployed in a Fixed deposit is locked for a specified time period which instills a disciplined approach of saving habit in you.

• Better returns than savings account : It offers better returns in contrast as opposed to savings account as the interest rate is higher. In a savings account, you can earn interest upto 4% whereas, in fixed deposit, interest rate starts from 6.00% p.a.

• Early withdrawal : Withdrawal of invested amount in fixed deposit can be made prior to the maturity date by paying a penalty charge.

• Interest payment available at different tenures :  Interest is payable only at maturity, annually or monthly subject to the time period specified by the customer.

• Flexible tenure: The customers have the privilege of enjoying various tenure options and block their amount as long as they want. They are required to invest their money for a time interval ranging  from 7 days to 10 years.

Documents Required for Fixed Deposit

You are required to submit the following documents as particulars to be furnished for making your FD.

Identity Proof:

• Passport
• PAN Card

• Voter ID card
• Driving Licence
• Senior citizen ID card
• Government ID card
• Photo ration card

Address Proof:

•    Passport
•    Electricity bill
•    Telephone bill
•    Bank Statement with Cheque
•    Certificate/ ID card issued by Post office