Best FD Rates in India in March-2019

Best Bank Fixed Deposit (FD) Rates in India – March 2019Best & Worst Bank Fixed Deposit (FD) Rates in India – March 2019


Bank FD Rates are showing some sign of positive momentum now. Many banks started increasing bank FD Rates in India now. 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 March-2019? Which banks are offering higher FD rates in the short term now in Mar 2019? Which banks offering highest FD rates for 1 year, 2 years, 3 years or 5 year tenure? Which banks are offering worst FD rates in March-2019? Comparison of Bank FD rates provide you best and worst FD rates in India. 

Also read: Best Largecap Mutual Funds to invest in India in 2019

Positive movers in FD Rates compared to our previous article


Foreign banks:  There are no foreign banks in India that has increased the interest rates compared to our previous article.

Private Banks:  KVB, Federal Bank, Lakshmi Villas Bank and Bandhan Bank have increased the interest rates for short term to long term. There are no other positive movers in the private banking sector.  

Public Sector Banks: Corporation Bank, Punjab National Bank, Allahabad Bank, Bank of Baroda, Bank of Maharastra, Canara Bank, Central Bank of India, IDBI Bank, OBC and Syndicate Bank have increased the interest rates in the last 2 months. There are no other positive movers in the public sector banks.

Negative Movers in FD Rates compared to our previous article


Foreign Banks: Citibank has reduced 1-3 years FD rates. There is no other negative movement in FD rates of other foreign banks operating from India.

Private Banks: IDFC Bank has reduced 1-5 years FD rates. There is no other negative movement in FD rates in other private banks.

Public Sector Banks:  PNB, Allahabad Bank, Union Bank of India, Vijaya Bank has reduced 1-5 years FD rates. There is no other negative movement in FD rates in other public sector banks.

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 March 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, DCB, Lakshmi Vilas Bank, Axis Bank, ICICI Bank, Karanataka Bank, Indusind Bank, IDFC Bank and Bandhan Bank, etc., as they offer between 7.5% to 8.05% since 1-5 years FD scheme.

3) If you are willing to park your money in Public sector banks, you can look for Canara Bank, IDBI Bank, Repco, OBC and Syndicate Banks which provides highest interest rates for fixed deposits between 7% 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) Lakshmi Villas Bank offers 7.85% interest rates for 5 years FD Scheme.

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

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

5) Indusind Bank, IDFC Bank, Bandhan Bank offers 7.5% interest rates for 5 years FD Scheme.

Best Bank Fixed Deposit (FD) for 4 years Tenure


1) Lakshmi Vilas Bank offers 7.85% interest rates for 4 years FD Scheme.

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

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

4) DB, Indusind Bank, IDFC Bank, Bandhan Bank offers 7.5% interest rates for 4 years FD Scheme.

5) Federal Bank offers 7.4% interest rates for 4 years FD scheme.

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


1) DCB offer 8.05% interest rates for 3 years FD Scheme.

2) Lakshmi Vilas Bank offers 7.85% interest rates for 3 years FD Scheme.

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

4) DB, Indusind Bank, IDFC Bank, Bandhan Bank and ICICI Bank offers 7.5% interest rates for 3 years FD Scheme.

4) Federal Bank offers 7.4% 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) Deutsche Bank offers 8% interest rates for 2 years FD Scheme.

3) Lakshmi Villas Bank offers 7.85% interest rates for 2 years FD Scheme.

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

5) DCB, Indusind Bank, IDFC Bank, Bandhan Bank, Axis Bank and Karnataka Bank offers 7.5% interest rates for 2 years FD Scheme.

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


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

2)  Lakshmi Vilas Bank offers 7.75% interest rates for 1 year FD Scheme

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

4)  Karanataka Bank offers 7.5% interest rates for 1 year FD Scheme

5)  TMB Bank offers 7.4% interest rates for 1 year FD Scheme

You may like: Which are the best insurance companies as per IRDA Report in 2019?

Best & Worst Bank Fixed Deposit (FD) Rates in India – March 2019 – Comparison table

The comparison list would help investors to choose the right bank for fixed deposits. Green indicates that the rates have been increased compared our previous article and RED indicates that the rates are reduced compared to our previous article. 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.

Best Bank Fixed Deposit (FD) Rates in India for March 2019

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Suresh

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

15 comments

  • Danesh

    Dear Mr.Suresh,
    Can you guide my sister who wants to invest around 45 lacs in a fd with monthly interest so that she and her two daughters can sustain themselves. Her husband is having irregular income and I’ve suggested her to invest in Bajaj finserv or Mahindra finance orlick housing or Tamilnadu powerfin and I’m not sure about the risk. Can you guide us pls…

    • Madhab Das

      Dear Danesh,

      I am qualified charted accountant from UK. I am Amfi affiliated Mutual Broker in India. My advise on this point is that…..

      To optimise you return you have to allocate your fund
      25% FD currently DCB or Deutsche Bank.
      25 % LIC Nomura Banking Fund (It is a mutual fund).There is no blocking period. You can use this money when u need it.
      50 % Put into Godd quality equity share Like IOC,Indrapasta Gas, Deepak fertiliser, Yes Bank etc

  • Danesh

    Sir, my sister has 45lacs which she got from a property sale(capital tax paid)and she is a house wife and her husband is having irregular earnings. She wants to earn a decent monthly interest so that she can sustain herself and her two daughters and avoid depending on others. She can invest in multiple options. I’ve advised in Bajsj, mahindra or Tamilnadu powering etc as she is from Chennai. Your valuable advice will be highly appreciated.

  • Sathia

    Thanks for collating the info. Very useful for the readers – Appreciated your efforts.

    Couple of suggestion for your consideration.
    1) SCB can be added – this bank exists for more than 100 years in India and have a comparable branch network compare to other Foreign banks.
    2) IDBI never be a public sector bank and it was a special arrangement – Quasi. However, from now on wards IDBI is a Private Bank ( as per latest RBI notice if I am not mistaken)

    • Sathia

      Also, IDFC bank can be included ( Merger from IDFC and Capital First) – Interest rate is around 8.25%

    • Danesh

      Sir, my sister has 45lacs which she got from a property sale(capital tax paid)and she is a house wife and her husband is having irregular earnings. She wants to earn a decent monthly interest so that she can sustain herself and her two daughters and avoid depending on others. She can invest in multiple options. I’ve advised in Bajsj, mahindra or Tamilnadu powering etc as she is from Chennai. Your valuable advice will be highly appreciated.

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