Top 5 Bank FD Schemes offering highest interest rates in India in 2017

Top 5 Bank FD Schemes offering highest interest rates in India in 2017Top 5 Bank FD Schemes offering highest interest rates in India in 2017


After demonetization effect, most of the Banks in India have reduced FD interest rates. If you look at latest Bank FD interest rates in India now in Jan-2017, you would see that several banks have reduced interest rates which are as low as 4.5% per annum. Which are the banks that are providing highest FD interest rates in Jan-2017? Which are the top 5 bank FD Schemes offering highest interest ratest in India in 2017 for 5 years, 3 years and 1 year tenure? Which are the banks you need to avoid now opening any new FD Schemes?

Positive movers in the last 3 months


Foreign banks:  No positive movement in Foreign bank FD rates.

Private Banks: No positive movement in private banks FD Rates.

Public Sector Banks: No positive movement in private banks FD Rates.

Also Read: Best Investment Options in India

Negative Movers in the last 3 months


Foreign Banks: Almost, all the foreign banks have reduced FD rates in the last 3 months. Interest rates are now in the range of 5.1% to 7.75%.

Private Banks: Almost all banks have reduced the FD rates. Interest rates are ranging between 6% to 8% per annum.

Public Sector Banks:  All public sector banks have reduced interest rates for short term, medium term and long term Fixed deposits. Interest rates are ranging between 4.25% to 7.5% per annum.

What does this mean for investors?


As I always indicated in my previous articles, investors should park money for the long term. Foreign banks still provide lesser interest rates. The best way is to invest in bank FD schemes of public sector banks and large private banks.  

Which banks are providing higher interest rates now?


If you are willing to park your money in foreign banks (in India), you can look for Deutsche Bank where they are offering 7% to 7.75% interest rates for 2 to 5 year period.

If you are willing to park your money in Private sector banks, you can look for Ratnakar Bank, TMB, DCB, KVB, Lakshmi Vilas Bank, Yes Bank, Citi Union Bank and Bandhan Bank, etc., for long terms of 5 years as they provide highest FD rates in India of over 7% per annum.

If you are willing to park your money in Public sector banks, you can look for Repco Bank, Union Bank of India, OBC, Dena Bank which provides highest interest rates for fixed deposits of over 7% per annum.

Top 5 Bank FD Interest rates offering highest rates for 5 years tenure


1) Deutsche Bank offers 7.75% interest rates for 5 years FD Scheme

2) Rathnakar Bank offers 7.7% interest rates for 5 years FD Scheme

3) Development Credit Bank (DC) offers 7.25% interest rates for 5 years FD Scheme

4) Repco Bank offers 7.25% interest rates for 5 years FD Scheme

5) Union Bank of India offers 7.25% interest rates for 5 years FD Scheme

Top 5 Bank FD Interest rates offering highest rates for 3 years tenure


1) Rathnakar Bank offers 7.7% interest rates for 3 years FD Scheme

2) Development Credit Bank offers 7.25% interest rates for 3 years FD Scheme

3) Repco Bank offers 7.25% interest rates for 3 years FD Scheme

4) Union Bank of India offers 7.25% interest rates for 3 years FD Scheme

5) Dena Bank offers 7.25% interest rates for 3 years FD Scheme

Top 5 Bank FD Interest rates offering highest rates for 1 year tenure


1) Bandhan Bank offers 8% interest rates for 1 year FD Scheme

2) Rathnakar Bank offers 7.75% interest rates for 1 year FD Scheme

3) Repco Bank offers 7.5% interest rates for 1 year FD Scheme

4) Union Bank of India offers 7.25% interest rates for 1 year FD Scheme

5) Developmetn Credit Bank offers 7.2% interest rates for 1 year FD Scheme

6) OBC offers 7.15% interest rates for 1 year FD Scheme

Also Read: 10 High Return Investment Options in India

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 article and RED indicates that the rates are reduced compared to our previous article. Since all the banks have reduced FD interest rates, I have not marked them in red this time. Myinvestmentideas.com is the only website in India, which tracks FD rates regularly and provides whether a particular bank has increased the FD rate or slashed the FD rates. This is a unique feature of our blog.

Latest Bank FD Interest rates in India in Jan 2017

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Suresh

Top 5 Bank FD Schemes offering highest interest rates in India in 2017

11 comments

  • abhijith

    Ex : Ratnakar Bank   7.75 % of interest for 1 year. Blindly dont think that they will provide 7.70%

    Guys 7.70 % rate of interest for 1 year means dont think that everyone will get this. Those who are depositing more than 1 Crore rupees those only get it.

     

    Please see the terms and condition:

    Terms and conditions apply 

    *RBL Bank offers savings account interest rates @ 7.10% p.a. on balances > Rs. 1 Cr upto Rs. 5 Cr. ; 6.50% p.a. on balances > Rs. 10 Lac upto Rs. 1 Cr. ; 6.00 % p.a. on balances > Rs. 1 Lac upto Rs. 10 Lac ; and 5.50 % p.a. on balances upto Rs. 1 Lac on a daily balance basis. For balances above Rs. 5 Cr., please get in touch with your Relationship Manager / Branch Manager. These rates will apply on the entire balances above Rs. 1 Lac, as per the above slabs and the initial Rs. 1 Lac balance will earn interest at the rate of 5.50 % p.a. 

     

  • Navaneeth

    Is REPCO Bank is safer for Fixed deposit?

  • ramesh s

    Sandesh,

     

    Why you are asking rates of previous years, do you have control over the time which has already gone

  • rahul singh

    hi suresh,

    While doing some research on Investment i saw soem institutions offring higest interest rates on fd. is it good to go finencial institution or only banks are safe

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