Latest Bank Fixed Deposit Interest Rates in Oct-19

Latest Bank Fixed Deposit (FD) Interest Rates Oct 2019Latest Bank Fixed Deposit Interest Rates in Oct-19


These days banks are reducing fixed deposit interest rates month on month. Latest Bank FD Rates in Oct 2019 indicate that banks are offering interest rates between 5% to 8%. If you are a low risk taker or want to park your surplus money for short term, bank FDs could be the best choice. What are the Latest Fixed Deposit Interest Rates in Banks in October, 2019? Which banks are offering best fixed deposit interest rates for 1 year, 2 years, 3 years and 5 years tenure now in Oct 2019?

Also Read: Post Office Small Saving Interest Rates in Oct 2019

Which Banks have increased Fixed Deposit Interest Rates in Oct-19?


Let us check where there is positive movement in interest rates now in October, 2019 compared to Sep-19.

Foreign banks:  HSBC Bank has increased 3 years FD interest rate. There is no other foreign bank in India that has increased the FD interest Rates.

Private Banks:  Karnataka Bank  has increased 1 year and 2 years FD interest rates. There is no other private bank in India that has increased the FD interest Rates.

Public Sector Banks: There are no public sector banks in India that has increased the interest rates in Oct-19.

Which banks have reduced Fixed Deposit Interest Rates in Oct-19?


Foreign Banks: Deutsche Bank and Citibank have reduced fixed deposit interest rates in Oct-2019.

Private Banks: Almost all private banks have reduced FD interest rates, except for TMB, DCB, Yes Bank, Karnataka Bank and IDFC Bank.

Public Sector Banks:  Except Canara Bank and Repco bank, all other public sector banks have reduced interest rates now in Oct-2019.

Which banks are providing higher interest rates now in October 2019?


1) If you are willing to park your money in foreign banks in India, you can look for Deutsche Bank where they are offering 6.25% to 7.75% FD interest rates for 1 to 5 year tenure.

2) If you are willing to park your money in fixed deposits in private sector banks, you can look for DCB, RBL Bank, IDFC Bank, Lakshmi Vilas Bank, Yes Bank and Bandhan bank as they offer interest rates between 7.25% to 8%  for 1-5 years FD schemes.

3) If you are willing to park your money in Public sector banks, you can look for Repco Bank, OBC, Andhra Bank and Corporation Bank, which provides highest interest rates for fixed deposits between 6.5% to 7.5% per annum.

Best Fixed Deposit Interest Rates for 5 years tenure


1) Deutsche Bank offers 7.75% interest rate.

2) DCB Bank offers 7.75% interest rate.

3) RBL Bank offers 7.5% interest rate.

4) IDFC Bank offers 7.5% interest rate.

5) Lakshmi Villas Bank, Yes Bank and Bandhan Bank offers 7.25 % interest rates.

Best Fixed Deposit Interest Rates for 4 years tenure


1) DCB Bank offers 7.75% interest rate.

2) IDFC Bank offers 7.5% interest rate.

3) Lakshmi Vilas Bank offers 7.5% interest rate.

4) RBL Bank offers 7.35% interest rate.

5) Bandhan Bank offers 7.35% interest rate.

Also Read: Mahindra Finance FD offers upto 10.49% yield – Should you opt?

Best Fixed Deposit Interest Rates for 3 years tenure


1) DCB Bank offers 8% interest rate.

2) IDFC Bank offers 7.5% interest rate.

3) Lakshmi Vilas Bank offers 7.5% interest rate.

4) RBL Bank offers 7.35% interest rate.

5) Bandhan Bank offers 7.35% interest rate.

Best Fixed Deposit Interest Rates for 2 years tenure


1) IDFC Bank offers 8% interest rate.

2) RBL Bank offers 7.6% interest rate.

3) DCB Bank offers 7.5% interest rate.

4) Lakshmi Vilas Bank offers 7.5% interest rate.

6) Repco Bank offers 7.5% interest rate.

Best Fixed Deposit Interest Rates for 1 year tenure


1) IDFC Bank offers 8% interest rate.

2) RBL Bank offers 7.6% interest rate.

3) Lakshmi Vilas Bank offers 7.5% interest rate.

4) Repco Bank offers 7.5% interest rate.

5) Bandhan Bank, Yes Bank and Indusind Bank offer 7.25% interest rates.

Also Read: Best SIP Mutual Funds for 1 year tenure

Comparison of Fixed Deposit Interest Rates in Banks – October, 2019


We are providing a comparison of fixed deposit interest rates among foreign banks, public sector banks and private banks. Green indicates that the FD rates are increased compared to our previous article. RED indicates that the fixed deposit interest rates are reduced compared to our previous article on this subject. Myinvestmentideas.com is the only website in India, that tracks latest fixed deposit interest rates regularly and provides whether a particular bank has increased or reduced the FD rates. This is a unique feature of our blog. Here is latest fixed deposit rate comparison table now in Oct-2019.

Latest Bank Fixed Deposit Interest Rates Oct 2019

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Suresh KP

Latest Bank Fixed Deposit Interest Rates in Oct-19

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