Best Bank Fixed Deposit (FD) Rates – December 2017

Best Bank Fixed Deposit (FD) Rates – December 2017-minBest Bank Fixed Deposit (FD) Rates – December 2017


Last week, RBI has kept the Repo rate unchanged. Based on the indication from US Fed and other global queues, RBI has not changed the Repo rates. We can expect that it would continue for next couple of Quarters or even RBI can increase the Repo rates. Bank Fixed Deposit Rates continue to be in downtrend in the last 3-4 months. Many of the banks have already reduced FD rates 9 months to 1 year. 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 December-2017? Which banks are offering highest FD rates in short term now in Dec 2017? Which banks offering highest FD rates for medium term of 3-5 years ?

Also Read: 10 Best High Return Low Risk Mutual Funds in India

Positive movers in the last 3-4 months


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

Private Banks: Kotak Bank has increased the interest rates for 1 year and 2 years FDs. There is no change in other private bank FD rates.

Public Sector Banks: IDBI Bank has increased the interest rates for 4 years FD tenure, Union Bank of India and Vijaya Bank has increased interest rates for 1 and 2 years tenure respectively. There is no positive movement in public sector bank FD rates.

Negative Movers in the last 3-4 months


Foreign Banks: Deutsche Bank has reduced interest rates for 2, 3 and 5 years tenure. Interest rates among the foreign banks are now in the range of 5% to 7.25%.

Private Banks: RBL, ICICI Bank, Karnataka Bank and Bandhan Bank have reduced the FD rates. Private Bank interest rates are ranging between 6% to 7.2% per annum.

Public Sector Banks:  Corporation Bank, Allahabad Bank, Andhra Bank, BOB, SBI and BOI 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 Dec 2017?


If you are willing to park your money in foreign banks (in India), you can look for Deutsche Bank where they are offering 6.75% to 7.25% 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, Citi Union Bank, DCB, Lakshmi Vilas Bank and Bandhan Bank etc., as they offer between 6.85% to 7.15% 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 upto 7.25% per annum. These are High Return – Zero risk Fixed Income Schemes as they are public sector banks.

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


1) Deutsche Bank offers 7.25% interest rates for 5 years FD Scheme

2) RBL Bank offers 7.1% 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) Lakshmi Vilas Bank and Repco bank offers 7% interest rates for 5 years FD Scheme

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


1) RBL offers 7.1% interest rates for 3 years FD Scheme

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

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

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

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

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


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

2) Bandhan Bank offers 7.15% interest rates for 1 year FD Scheme

3) RBL Bank offers 7.1% interest rates for 1 year FD Scheme

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

5)  Lakshmi Vilas Bank offers 7% interest rates for 1 year FD Scheme

Also Read: Best Small Finance Bank FD Schemes offering upto 9% 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 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.

Summary of Best Bank Fixed Deposit (FD) Rates – December 2017-min

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Suresh

Best Bank Fixed Deposit (FD) Rates – December 2017

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