Best Fixed Deposit Interest Rates in Bank – July 2019

Best Fixed Deposit Interest Rates in Bank in July 2019 in IndiaBest Fixed Deposit Interest Rates in Bank – July 2019


Last month, RBI has cut the repo rate and banks started reducing the FD rates in India. Last week Ministry of Finance (MoF) has announced rate cuts for Small Saving Scheme Interest rates. Do you know that bank still offers up to 8.25% FD interest rates? Hence, these are still attractive investments for several investors. What are the latest Fixed Deposit Interest Rates in Bank in July, 2019? Which banks offering highest FD rates for 1 year, 2 years, 3 years or 5 year tenure in India?

Also Read: Which is the best 1 Crore Term Plan in India now?

Positive movers in FD Rates compared to our previous article


Last time we reviewed these FD rates during end of Mar-2019. Let us check where there are positive movement in interest rates now compared to our earlier article.

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

Private Banks:  IndusindBank, IDFC Bank and Bandhan bank have increased FD rates for 2 years to 5 years tenure FDs. There are no other positive movers in the private banking sector.  

Public Sector Banks: Corporation Bank, Punjab National Bank, Canara Bank, Union Bank of India, Vijaya Bank, SBI, Bank of India and Indian bank have reduced interest rates between 1 year to 5 years tenure FDs. There are no other positive movers in the public sector banks.

Negative Movers in FD Rates compared to our previous article


Foreign Banks: Deutsche Bank and Citibank have reduced 1-5 years FD rates. There is no other negative movement in FD rates of other foreign banks operating from India.

Private Banks: RBL Bank, TNB, Federal Bank, Axis bank, ICICI Bank, Karnataka Bank, Kotak Bank and Indudsind Bank have reduced FD rates between 1 to 5 years tenure. There is no other negative movement in FD rates in other private banks.

Public Sector Banks:  PNB, Allahabad Bank, Bank of Baroda, Canara Bank, Central Bank of India, Bank and SBI and Syndicate Bank have reduced mixed tenure FD rates between 1 to 5 years. 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 now.

Which banks are providing higher interest rates now in July 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% FD interest rates for 1 to 5 year tenures.

2) If you are willing to park your money in Private sector banks, you can look for RBL Bank, DCB, Lakshmi Vilas Bank, Indusind Bank, IDFC Bank and Bandhan Bank, etc., as they offer interest rates between 7.5% to 8.25% for 1-5 years FD scheme.

3) If you are willing to park your money in Public sector banks, you can look for Corporation Bank, PNB, IDBI Bank, Repco, SBI, Bank of India and Syndicate Banks which provides highest interest rates for fixed deposits between 7% to 7.7% per annum.

Best Fixed Deposit Interest Rates in Bank for 5 years Tenure


1) Deutsche Bank offers 8% 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) Bandhan Bank offers 7.65% interest rates for 5 years FD Scheme.

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

Best Fixed Deposit Interest Rates in Bank for 4 years Tenure


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

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

3) Bandhan Bank offers 7.65% interest rates for 4 years FD Scheme.

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

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

Best Fixed Deposit Interest Rates in Bank for 3 years Tenure


1) DCB offers 8.25% interest rates for 3 years FD Scheme.

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

3) Bandhan Bank offers 7.65% interest rates for 3 years FD Scheme.

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

5) IDFC Bank offers 7.5% interest rates for 3 years FD Scheme.

Best Fixed Deposit Interest Rates in Bank for 2 years Tenure


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

2) RBL 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) IndusInd Bank offers 7.75% interest rates for 2 years FD Scheme.

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

Best Fixed Deposit Interest Rates in Bank for 1 years Tenure


1) RBL offers 7.9% 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)  Bandhan Bank & Citi Union Bank offers 7.35% interest rates for 1 year FD Scheme

5)  HDFC Bank & Federal Bank offers 7.3% interest rates for 1 year FD Scheme

Comparison of Fixed Deposit Interest Rates in Bank now in July, 2019


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. Here is Fixed Deposit rate comparison table.

Best Fixed Deposit Interest Rates in Bank in in India in July 2019

You may also like: Latest Post Office Interest Rates in July 2019

Some additional points about FD Interest Rates in 2019

1) Fixed Deposit rates in SBI are almost lowest among the FD rates offered by all banks in India. SBI FD Interest rates in 2019 were almost at similar level.

2) Fixed Deposit rates in Post office offer between 6.9% to 7.2%. Though Post Office FDs offer higher rates, these are still lower than some of the banks indicated above

3) ICICI FD Interest Rates would differ between premature withdrawal FDS and no premature withdrawal FD schemes.

4) FD rates in Axis Bank were little attractive earlier, however these are almost inline with FD rates offered by other Private banks in India.

5) Bandhan Bank FDs continue to increase FD rates for specific tenure inspite of recent Repo rate cut.

5) One need to check FD interest rates calculator as some of the FD rates are compounded at quarter level and still can offer highest rates if you check per annum.

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

Suresh

Best Fixed Deposit Interest Rates in Bank – July 2019

7 comments

  • AP Singh

    Small Finance banks like Jana Small Fin Bk and Utkarsh Small Fin Bk are offering FD interst rates as high as 9.6% and 9.5% for senior citizens. Please let me know how safe they are and whether it has some gauranty from RBI. A comparative financial analysis of best small Finance banks would be welcome.

    • Small finance banks are new comers, hence we are yet to see how good they are in corporate governance. As of now, you can consider that there is risk element

      • AP Singh

        Sir, I would be grateful if you can give a comparative financial analysis inclusive of paid up capital, profit, NPA ratio etc to assess financial strength of Small finance banks before investing in FDs.

  • Ravindran

    I think you should include small finance banks also in this comparison. These banks offer about 100 basis points more when compared with other banks. In terms of risk, all banks are on equal footing.

  • Surendhran S

    Please include senior citizen rates in one column

    • Hello Surendhran, It is not just 1 column. We need to provide all 5 years i.e. 5 columns. We would provide this as seperate article going forward

  • Surendhran S

    What is premature withdrawal FDS vs no premature withdrawal and its advantages? Please explain with a simple example for easy understanding. With no premature withdrawal- how much difference in ICICI interest rate?

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