Latest Fixed Deposit Interest Rates in India – April-2014
Latest FD rates indicate that, in the last one month, there is mixed reaction in terms of changes in bank FD rates in India. Banks have increased interest rates for long term FD’s to attract investors for long term investment. I would provide the positive and negative movements based on current bank FD rates in India for April, 2014
Positive movers
- Foreign banks: After a long time, I am seeing that Deutsche Bank increasing the Bank FD rates. It has increased the rates for 1 year and 5 year FD scheme.
Also Read: Top Rated Corporated Fixed Deposits schemes in India
- For short term FD, HSBC offers good interest rates. However, for long term, Deutsche Bank now offers good interest rates.
- Private Banks: In Private banks, there are mixed changes. HDFC Bank has increased interest rate on a 1 year FD scheme. Kotak Bank has increased the interest in a 5 year FD scheme.
- Lakshmi Vilas Bank, Karnataka Bank and KVB offer top interest rates for short term as well as long term FD’s.
- Public Sector Banks: Bank of Maharastra and IDBI Bank have increased the interest rates on their FD schemes. Bank of India, IDBI Bank, Vijaya Bank, BoB offers highest interest rates for short term. However, except Canara Bank, which offers 9.05% for 5 year FD, none of the public sector banks offer more than 9% interest for long term FD schemes.
Negative Movers
- Foreign Banks: No negative movements.
- Private Banks: Federal Bank and Kotak Bank have reduced interest rate for a 1 year FD scheme.
- Public Sector Banks: Bank of Baroda, SBH and Vijaya Bank has slashed the FD rates.
Comparison of current and latest bank FD interest rates among various banks in India.
The comparison list would help investors to choose the right bank for fixed deposits. Green indicates that the rates have been increased compared to our previous month's article and RED indicates that the rates are reduced comparing to our previous month's article. Myinvestmentideas.com is the only website in India, which tracks FD rates month on month and provides whether a particular bank has increased the FD rate or slashed the FD rates. This is a unique feature of our best investments blog.
Also Read: Current bank recurring deposit rates in in India
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Suresh
Latest Fixed Deposit Interest Rates in India
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IDBI bank is a big bank , a public sector bank , and have always offered good FD returns
…IDBI bank staffs also i have found are quite decent…inflation and gold prices have raked up only due to outsourcing from outside of india..now outsourcing have reached its peak..and also option for these outsourcing companies are opened up like brazil and african countries..
inflation and gold prices will not go up…try to look into the inflation charts.They have gone up around 2005 – 2011..at the peak of outsourcing in india….
Hi Suresh,
i have been regular reader of your sites from last one year. I am planning to invest 2000 to 2500 Per month. Plase sugesst me which the best option.
1. Post Office
2. Gold
3 . Mutual Investment
Thanks,
Venkatesh.G
Venkatesh, If you can take some risk, you can invest in mutual funds. Invest in largecap or diversified funds like ICICI Pru focussed blue chip fund,BNPP Equity fund, UTI Opps fund and Quantum long term equity fund. You can look for Gold ETF’s too, however my suggestion is first start with MF’s, then you can go through other options too.
Hi Suresh,
I've been a regular reader of your articles for more than a year now.
I could see that you have an article almost every month on rate of interest offered by the bank onFixed deposits which is very beneficial for the investor's community.
However, I suggest you to include a few more banks which offer THE BEST interest rates on FD and are financially very strong which minimizes credit risk.
Ratnakar Bank & Tamilnad Merchantile Banks are good private sector banks which are financially very strong.
Then we have regional rural banks like Deccan Grameena Bank & APGVB which are sponsored by SBI/SBH etc. and Government of India owns a majority stake in these banks. So the credit risk is very minimal for DGB & APGVB as well.
It is better and would help all of us if you incude these 4 banks (Ratnakar, TMB, DGB & APGVB) in your next article on interest rates for fixed depostis.
Thanks & Regards,
Jalpesh
Sure Jalpesh, would include from next month.
Hi sir
As from your info i have now invested on gold and put some money in Bank FD.
Your articles have helped me a lot so i want to say a big thank you
Keep up the good work
Maven
Maven, Good to hear that you are investing in gold now based on our reco. Stay invested, you can expect good returns even in short term apart from long term returns.
Suresh,
thanks for posting FD interest rates. I want to invest 20k lumpsum on the name of my son for long term (20 years), can you suggest where should i invest?
Also, you provide some insights on Debt Funds Vs Fixed Deposits: Which is Better?
Hi Rajanadan, Debt funds carry some risk as it depends on bond yield and other fixed income securities where such MF scheme invests. You cannot predict the returns. On other hand FD’s are where you know upfront what you would get at maturity. If you want to take some risk, and look for better returns than bank FD, you can invest in debt funds.