Best Bank Fixed Deposit (FD) Rates – September 2017

Best Bank FD Rates for September 2017Best Bank Fixed Deposit (FD) Rates – September 2017


Bank Fixed Deposit Rates continue to be in downtrend. Many of the banks have already reduced FD rates after 6 months from demonetization and some of them have reduced them in the last 4-5 months. If you are willing to park your money for short term or if you are low risk investor, you can invest in these bank FD Schemes. What are the latest bank FD rates in September-2017? Which banks are offering highest FD rates in short term now in Sep 2017? Which banks offering highest FD rates for medium term of 3-5 years ?

Also Read:  SBI Life Insurance IPO is priced double its competitor – Should you invest?

Positive movers in the last 3-4 months


Foreign banks:  There is no positive movement in foreign bank FD rates.

Private Banks: IDBI Bank has increased FD rates for 1 year to 3 years. Repco Bank has increased 2 years FD rate. Union Bank of India has increased 1 to 5 years FD rates. There is no change in other private bank FD rates.

Public Sector Banks: There is no positive movement in public sector bank FD rates.

Negative Movers in the last 3-4 months


Foreign Banks: Deutsche Bank and Citibank has reduced interest rates in the last 3-4 months. Interest rates among the foreign banks are now in the range of 5% to 7.75%.

Private Banks: RBL, DCB, Yes Bank, Axis Bank, ICICI Bank, Karnataka Bank, Kotak Bank and Bandhan Bank have reduced the FD rates. Private Bank interest rates are ranging between 6% to 7.3% per annum.

Public Sector Banks:  PNB, Allahabad Bank, Canara Bank, OBC, SBI, BOI, Dena Bank and Syndicate Bank have reduced interest rates for short term, medium term and long term Fixed deposits. Interest rates are now ranging between 6% to 7.25% per annum.

What does this mean for investors?


As I always indicated in my previous articles, investors should park money for the long term.

Which banks are providing higher interest rates now in Sep 2017?


If you are willing to park your money in foreign banks (in India), you can look for Deutsche Bank where they are offering 6.9% 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 RBL Bank DCB, KVB, Lakshmi Vilas Bank, Citi Union Bank etc., as they offer between 7% to 7.3% for 1-5 years FD scheme.

If you are willing to park your money in Public sector banks, you can look for Repco Bank and  OBC which provides highest interest rates for fixed deposits of over 6.75% per annum.

Best Bank Fixed Deposit (FD) Rates for 5 years FD


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

2) RBL Bank offers 7.2% interest rates for 5 years FD Scheme

3) Development Credit Bank (DCB) offers 7.1% interest rates for 5 years FD Scheme

4) Repco Bank offers 7% interest rates for 5 years FD Scheme

5) OBC offers 6.75% interest rates for 5 years FD Scheme

How these are still lower compared to some of the top debt mutual funds.

Best Bank Fixed Deposit (FD) Rates for 3 years FD


1) RBL offers 7.2% interest rates for 3 years FD Scheme

2) Development Credit Bank offers 7.1% interest rates for 3 years FD Scheme

3) Deutsche Bank offers 7% interest rates for 3 years FD Scheme.

4) Lakshmi Vilas Bank offers 7% interest rates for 3 years Fixed Deposit Scheme.

5) Repco Bank offers 7% interest rates for 3 years FD Scheme

6) Bandhan Bank offer 6.9% interest rates for 3 years FD Scheme

Best Bank Fixed Deposit (FD) Rates for 1 year FD


1) Bandhan Bank offers 7.25% interest rates for 1 year FD Scheme

2) Repco Bank offers 7.25% interest rates for 1 year FD Scheme

3) RBL Bank offers 7.2% interest rates for 1 year FD Scheme

4)  Citi Union Bank offers 7.1% interest rates for 1 year FD Scheme

5) Tamilnadu Merchantile Bank offers 6.9% interest rates for 1 year FD Scheme

Also Read: Where to invest your money in 2017?

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 Rates for September-2017

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Suresh

Best Bank Fixed Deposit (FD) Rates – September 2017

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