Latest Bank Fixed Deposit Rates – May 2018

Latest Bank Fixed Deposit Rates – May 2018-minLatest Bank Fixed Deposit Rates – May 2018


In the last 2 quarter reviews, RBI has not changed the repo rates. This gives indication that there would be any further reduction in bank fixed deposit rates. Recently, there is increase in SBI Fixed Deposit Interest rates Some of the banks like SBI, ICICI Bank etc., have started increasing the bank FD rates to attract Fixed Deposits. Recently, Shriram Transport Finance has increase their FD rates from Apr-2018. This also gives an indication that corporate fixed deposit interest rates would be in upward trend in coming 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 revised and latest bank fixed deposit rates in May-2018? Which banks are offering highest FD rates in short term now in 2018? Which banks offering highest FD rates for medium term of 3-5 years?

Also Read: Shriram Transport Finance FD Scheme offer 10% Interest Rate – Should you invest?

Positive movers in fixed deposit rates in the last 3-4 months


Foreign banks:  Deutsche Bank has increased the FD rates from 1 to 5 years tenure. There is no change in other bank interest rates.

Private Banks: Several Banks like RBL Bank, DCB, HDFC Bank, Lakshmi Vilas Bank, Yes Bank, Axis Bank, Citi union bank, Karnataka Bank, Kotak Bank and Bandhan Bank has increased the interest rates for 1 to 5 years tenure.

Public Sector Banks: Several bank like IOB, PNB, Bank of Baroda, IDBI Bank, SBI etc., have increased the interest rates.  There is no change in other bank interest rates.

Negative Movers in fixed deposit rates in the last 3-4 months


Foreign Banks: There is no negative movement in interest rates in this segment.

Private Banks: Except for bandhan bank which reduced interest rate for 1 year, there is no change in other bank interest rates.

Public Sector Banks:  IOB, Central Bank of India, OBC and SBI has reduced interest rates for specific tenure.

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 May 2018?


If you are willing to park your money in foreign banks (in India), you can look for Deutsche Bank where they are offering 7.25% to 7.9% interest rates for 1 to 5 year period.

If you are willing to park your money in Private sector banks, you can look for Lakshmi Vilas Bank, DCB, RBL Bank, Citi Union Bank, and Bandhan Bank etc., as they offer between 7.1% to 7.35% 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 IOB which provides highest interest rates for fixed deposits upto 7.25% per annum.

Best Bank FD Interest Rates for 5 years FD


1) Deutsche Bank offers 7.5% interest rates for 5 years FD Scheme

2) Lakshmi Vilas Bank and Repco bank offers 7.3% interest rates for 5 years FD Scheme

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

4) RBL Bank offers 7.15% interest rates for 5 years FD Scheme

5) Citi Union Bank Bank offers 7.1% interest rates for 5 years FD Scheme

Best Bank FD Interest Rates for 3 years FD


1) Lakshmi Vilas Bank and Repco bank offers 7.35% interest rates for 5 years FD Scheme

2) Development Credit Bank (DCB) offers 7.25% interest rates for 5 years FD Scheme

3) RBL Bank offers 7.15% interest rates for 5 years FD Scheme

4) Citi Union Bank Bank offers 7.1% interest rates for 5 years FD Scheme

5) Bandhan Bank offers 7.1% interest rates for 5 years FD Scheme

Best Bank FD Interest Rates for 1 year FD


1) Lakshmi Vilas Bank and Repco bank offers 7.35% interest rates for 5 years FD Scheme

2) RBL Bank offers 7.25% interest rates for 5 years FD Scheme

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

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

5) Citi Union Bank offers 7.1% interest rates for 5 years FD Scheme

Also Read: Best Post Office Scheme that offers Highest Interest Rates in May-2018

Comparison of current fixed deposit 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.

Bank Fixed Deposit Interest Rates in India - May 2018

If you enjoyed this article, share it with your friends and colleagues through Facebook and Twitter. The links are available below.

Suresh

Latest Bank Fixed Deposit Rates – May 2018

4 comments

Leave a Reply

Your email address will not be published. Required fields are marked *