Best Bank Fixed Deposit (FD) Rates in India – January 2019

Best Bank Fixed Deposit (FD) Rates in India – January 2019


Stock Market continues to be volatile. Investors are looking to invest their money in safe investment option till markets get stabilized. Investors are looking for 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 January-2019? Which banks are offering higher FD rates in the short term now in Jan 2019? Which banks offering highest FD rates for 1 year, 2 years, 3 years or 5 year tenure?

Also Read: How to save tax by investing in mutual funds in 2019?

Positive movers in FD Rates in the last 1 month


Foreign banks:  There are no foreign banks in India that has increased the interest rates in the last 1 month.

Private Banks:  ICICI Bank, Karnataka Bank, Kotak Bank and Bandhan Bank have increased the interest rates from short term to long term. There are no other positive movers in the private banking sector.  

Public Sector Banks: Allahabad Bank and Dena Bank have increased the interest rates for short term of 1 to 2 years. There are no other positive movers in the public sector banks.

Negative Movers in FD Rates in the last 1 month


Foreign Banks: Citibank has reduced 2 years FD rates. There is no other negative movement in FD rates of other foreign banks operating from India.

Private Banks: There is no private bank that has reduced the interest rates in the last 1 month.

Public Sector Banks:  There is no public sector bank that has reduced the interest rates in the last 1 month.

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 Jan 2019?


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

2) If you are willing to park your money in Private sector banks, you can look for RBL Bank, TMB, KVB, HDFC Bank, Lakshmi Vilas Bank, Axis Bank, Yes Bank, Karanakata Bank, Kotak Bank, Indusind Bank, IDFC Bank, Citi Union Bank, ICICI Bank and Bandhan Bank, etc., as they offer between 6.4% to 8.25% since 1-5 years FD scheme.

3) If you are willing to park your money in Public sector banks, you can look for Repco Bank, Canara 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


Here are the banks which are offering between 7.6% to 8.25% for 5 years FD. However, Latest Post Office term deposit offer upto 7.8% interest rates

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

2) IDFC Bank offers 8.25% interest rates for 5 years FD Scheme.

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

4) Lakshmi Villas Bank offers 7.75% interest rates for 5 years FD Scheme.

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

Best Bank Fixed Deposit (FD) for 4 years Tenure


1) IDFC Bank offers 8.25% interest rates for 4 years FD Scheme.

2) DCB offer 7.75% interest rates for 4 years FD Scheme.

3) Lakshmi Vilas Bank offers 7.75% interest rates for 4 years FD Scheme.

4) RBL Bank offers 7.6% interest rates for 4 years FD Scheme.

5) Deutsche Bank and Indusind Bank offers 7.5% interest rates for 4 years FD Scheme.

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


1) Development Credit Bank offers 8.05% interest rates for 3 years FD Scheme

2) IDFC Bank offers 8% interest rates for 3 years FD Scheme

3) Lakshmi Vilas Bank offers 7.75% interest rates for 3 years FD Scheme

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

5) Deutsche Bank, Indusind Bank and ICICI Bank offers 7.5% interest rates for 3 years FD Scheme

Best Bank Fixed Deposit (FD) Rates for 2 years FD


1) RBL Bank offers 8.05% interest rates for 2 years FD Scheme.

2) IDFC Bank offers 8% interest rates for 2 years FD Scheme.

3) Deutsche Bank offers 8% interest rates for 2 years FD Scheme.

4) REPCO Bank offers 7.7% interest rates for 2 years FD Scheme.

5) Lakshmi Vilas Bank offers 7.6% interest rates for 2 years FD Scheme.

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


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

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

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

4)  Lakshmi Vilas Bank offers 7.6% interest rates for 1 year FD Scheme

5)  IDFC Bank and Karnataka Bank offers 7.5% interest rates for 1 year FD Scheme

You may like: 10 Best Mutual Funds to get high returns in long term

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 last 1 month and RED indicates that the rates are reduced in the last 1 month. 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.

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 – January 2019

The Author

Suresh KP

Suresh KP i.e. me have written 1,800+ articles on this blog. I have done by B.Com from Osmania University and then MBA-Finance from Symbiosis University, Pune. I have over 20 years of experience in analyzing various investment options and money saving ideas. I love doing financial planning, Mutual Fund Analysis, Searching long term Stocks for wealth creation, IPOs, reviewing Insurance Products, analysing Health insurance Plans etc.

8 Comments

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  1. Hi suresh sir,

    pl check yes bank FD rate. it is 7.85 % for 18 months and 8 days.

    second as per above mention question..why not included small finance bank ?

    it is not safe ? pl..guide us.

  2. Any specific reason not to include the Small Finance Bank such as Jana, AU, Fincare etc. Are they not a safe investment bet. Please guide as I have already parked some money in Fincare .

  3. Hi Suresh Sir,

    Thanks for continuous guidance and help.
    I checked the rates, seems the rate of ICICI need to update in the provided chart. refer https://www.icicibank.com/interest-rates.page

    Regards,
    DD

    1. Hello DD, I have checked and the rates are correct. There are 2 rates indicated 1) With Premature withdrawal. This is what we indicated 2) Without premature withdrawal. Are you referring second one

  4. Why IndusInd bank missing?
    In previous article also I didn’t see this bank.
    Is there any issue with this bank please let me know. Thanks in advance

    1. Hello Raj, I think you were the person who commented last month to include Indusind bank. I have already included in the table for Jan-19. Pls see Private banks list and last but 3rd one is Indusind bank. Thank you

      1. Thanks Suresh sir.
        I am sorry I didn’t see it properly. Thanks for clarifying
        I must say your articles are very informative and useful .

        Thanks
        Raj

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