Best Bank Fixed Deposit (FD) Rates – November 2018

Best Bank Fixed Deposit (FD) Interest Rates – November 2018Best Bank Fixed Deposit (FD) Rates – November 2018


After IL&FS crisis and uncertainty in NBFC segment, stock markets are taking huge corrections. Many investors have been shifting their focus from stocks and mutual funds to safe investment options. In the last few months over Rs 2 Lakh Crores of money has been moved from mutual funds to Fixed Deposits. Investors are now looking for safe investment options like bank FDs or Post Office Schemes for fixed income options. If you are willing to park your money for short term or if you are low risk investor, you can invest in bank FD Schemes. What are the latest bank FD rates in November-2018? Which banks are offering higher FD rates in the short term now in Nov 2018? Which banks offering highest FD rates for medium term of 3-5 years?

Also Read: Best International Mutual Funds to invest in 2018

Positive movers in FD Rates between Oct to Nov-2018


Foreign banks:  Deutsche Bank has increased 2 years FD rate to 8%. Citibank and HSBC have retained the existing rates.

Private Banks:  RBL Bank, YES Bank and ICICI Bank have increased the interest rates from medium to long term. There are no other positive movers in the private banking sector.  

Public Sector Banks: IDBI Bank has increased rates from short term to long term. Bank of Baroda, Central Bank of India and Syndicate banks have increased the interest rates for 1 and 2 years tenure.

Negative Movers in FD Rates between Oct to Nov-2018


Foreign Banks: There is no negative movement of interest rates in the foreign banking sector..

Private Banks: Karnataka Bank and Kotak Bank have reduced the interest rates for 1 year and 2 years respectively.

Public Sector Banks:  Repco bank and Union Bank of India have reduced interest rates.

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 Nov 2018?


If you are willing to park your money in foreign banks (in India), you can look for Deutsche Bank where they are offering 6.5% to 8.25% interest rates for 1 to 5 year period.

If you are willing to park your money in Private sector banks, you can look for RBL Bank, TMB, DCB, Lakshmi Vilas Bank, Yes Bank, Citi Union Bank, ICICI Bank and Bandhan Bank, etc., as they offer between 6.4% to 8.05% since 1-5 years FD scheme.

If you are willing to park your money in Public sector banks, you can look for Repco Bank and IDBI Bank, which provides highest interest rates for fixed deposits up to 7.7% per annum.

Best Bank Fixed Deposit (FD) for 5 years Tenure


1) Deutsche Bank offers 8.25% interest rates for 5 years FD Scheme.

2) Development Credit Bank (DCB) offers 7.75% interest rates for 5 years FD Scheme.

3) RBL Bank offers 7.6% interest rates for 5 years FD Scheme.

4) Lakshmi Villas Bank offers 7.5% interest rates for 5 years FD Scheme.

5) City Union Bank offers 7.35% interest rates for 5 years FD Scheme.

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


1) Development Credit Bank offers 7.75% interest rates for 3 years FD Scheme

2) RBL Bank offers 7.6% interest rates for 3 years FD Scheme.

3) Deutsche Bank and Lakshmi Vilas Bank offer 7.5% interest rates for 3 years FD Scheme.

4) Bandhan Bank offers 7.4% interest rates for 3 years Fixed Deposit Scheme.

5) The Citi Union Bank offers 7.35% interest rates for 3 years FD schemes.

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


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

2) Repco Bank offers 7.7% interest rates for 1 year FD Scheme

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

4)  The Tamilnadu Merchantile Bank and Karnataka Bank offers 7.4% interest rates for 1 year FD Scheme

5)  Citi Union Bank offers 7.35% interest rates for 1 year FD Scheme

You may like: Revised Post Office Small Saving Scheme Interest Rates – Nov-2018

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 and revised Best Bank Fixed Deposit (FD) Rates – November 2018

If you enjoyed this article, share it with your friends and colleagues through Facebook and Twitter who might be benefitting from such investments.

Suresh

Best Bank Fixed Deposit (FD) Rates – November 2018

11 comments

  • Abby Sandel

    You write an amazing article. really informative keep it up.

  • Mahesh

    It has increased its interest rates to the tune of upto 20 (bps) (1 bps = 0.01%).

    Now you can earn interest as high as 8.25% p.a. on ‘AAA’ rated ICICI HFC FD with senior citizens continuing to enjoy additional benefit of 0.25% p.a. interest.

  • Satish

    Hi Suresh,

    You are doing a great job by providing all these data to common man. Really appreciate it.

    Your data about Repco Bank is wrong. Repco bank didn’t change interest rates since September 2018. Please refer their website.

    The interest rates for 2 years was 7.25% till Sep 4th and they increased to 7.7% on Sep 5th.

    • Satish, The data is as on end of Sep and end of Oct. current rates indicated are correct. we have reverified the data on their website now. Where are you seeing that the data is wrong? If you can pin-point, it would help us to reverify and correct it.

      • Satish

        Suresh,

        If you refer your Oct FD article you have mentioned Repco has increased the rates to 8.2% for 1 year FD. However article itself doesn’t say whether it is for General or Senior Citizens. Or I don’t see “upto” anywhere in the article. Please correct if I missed reading anything in article.
        Repco bank’s last rate of interest change was on Sep 05,2018. That being said in October no increase happend as per the website.

        Even if I assume it is for Senior Citizen in October article, the data about period and interest rates are correct except the data which says interest increased.

        That being said the data in November article is matching with General. This article too doesn’t say tie category itsapplicable to.

        I request you to check the below link. https://www.repcobank.com/rate_of_interest.php.
        While I am writing this, I see below in website.
        Rate of Interest (%) p.a. w.e.f. 05-09-2018

        I am open to learn if I see anything wrong

        • Satish, Since I don’t have proof of last month article, I am not able to prove it now. The current rate of interest is correct, thats for sure. Thanks for the feedback.

          • Satish

            I think this article should say no change to Repco Bank interest rates as the interest were unchanged since Sep 05 as per the bank’s website.

  • Satish

    Hi Suresh,

    You are doing a great job by providing all these data to common man. Really appreciate it.

    Your data about Repco Bank is wrong. Repco bank didn’t change interest rates since September 2018. Please refer their website.

    The interest rates for 2 years was 7.25% till Sep 4th and they increased to 7.7% on Sep 5th.

  • Ravikanth

    Why HDFC no where mentioned in this blog??

    • Hello Ravi, HDFC Bank is already there in private sector banks. If you are referring HDfC, it is not a bank, hence not listed here. We would cover separate article about corporate FD schemes shortly

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