Best FD Interest Rates in Nov-19 – FD Rates Comparison
Oct-2019 is another bad month for investors who want to invest in bank Fixed deposits. The majority of the banks have reduced fixed deposit interest rates in Oct and till date in Nov-19. Latest Bank FD Rates in Nov-19 indicate that banks are offering interest rates between 5% to 6.5% and only a few banks up to 7.5% for specific tenure. If you are a low risk taker or want to park your idle money for short term, bank FDs could be the best choice. What are the Best FD Interest Rates in India in November, 2019? In this article we would also do an FD Rates comparison which can help investors to know which bank is offering highest FD rates.
Also Read: Fixed Deposit rates in Post Office offer upto 7.7% – Should you invest?
Which Banks have increased Fixed Deposit Interest Rates in Nov-19?
Let us check where there is positive movement in interest rates now in November, 2019 compared to Oct-19.
Foreign banks: There is no foreign bank in India that has increased the interest rates in Nov-19.
Private Banks: RBL has increased the interest rates for 2 years tenure to 7.65% per annum. Other than this, there are no private sector banks in India that has increased the interest rates in Nov-19.
Public Sector Banks: There is no public sector bank in India that has increased the interest rates in Nov-19.
Which banks have reduced Fixed Deposit Interest Rates in Nov-19?
Foreign Banks: Deutsche Bank and Citibank have reduced fixed deposit interest rates in Nov-19.
Private Banks: Majority of the private banks have reduced FD interest rates in Oct/Nov-2019.
Public Sector Banks: Majority of the public sector banks have reduced FD interest rates in Oct/Nov-2019.
Which banks are providing higher interest rates now in November 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% 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 RBL Bank, DCB, LVB, Yes Bank, Indusind Bank, IDFC First Bank and Bandhan Bank, as they offer interest rates between 7% to 7.65% for 1-5 years FD schemes.
3) If you are willing to park your money in Public sector banks, you can look for Corporation Bank, Andhra Bank, IDBI Bank, OBC, Indian Bank, Repco Bank, which provides highest interest rates for fixed deposits between 6.5% to 7.5% per annum.
Best FD Interest Rates for 5 years tenure
1) Deutsche Bank – 7.75%.
2) DCB Bank – 7.65%.
3) RBL Bank – 7.5%.
4) Lakshmi Villas Bank, Yes Bank, IDFC First and Bandhan Bank 7.25%.
5) IndusInd Bank – 7.15%.
Best FD Interest Rates for 4 years tenure
1) DCB Bank – 7.65%.
2) Lakshmi Vilas Bank – 7.5%.
3) RBL Bank & Bandhan Bank – 7.35%.
4) Deutsche Bank, IDFC First Bank and Yes Bank – 7.25%.
5) IndusInd Bank – 7.15%.
Best FD Interest Rates for 3 years tenure
1) DCB Bank – 7.85%.
2) Lakshmi Vilas Bank – 7.5%.
3) RBL Bank & Bandhan Bank – 7.35%.
4) IDFC First Bank & Yes Bank – 7.25%.
5) IndusInd Bank – 7.15%.
Best FD Interest Rates for 2 years tenure
1) RBL Bank – 7.65%.
2) Lakshmi Vilas Bank, IDFC First Bank and Repco Bank – 7.5%.
3) DCB Bank & Bandhan Bank – 7.4%.
4) Yes Bank & Indusind Bank – 7.25%.
5) Deutsche Bank and TMB – 7%.
Best FD Interest Rates for one year tenure
1) RBL Bank – 7.6%.
2) Lakshmi Vilas Bank, IDFC First Bank and Repco Bank – 7.5%.
3) Yes Bank & Bandhan Bank & Indusind Bank – 7.25%.
4) TMB – 7.1%.
5) DCB – 7%.
Bank FD Rates Comparison – November, 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 compared to previous month. This is a unique feature of our blog. Here is latest fixed deposit rate comparison table now in Nov-19.
Also Read: Bajaj Finance FD rates are up to 10.77% – Should you invest?
Some FAQs about FD Rates in Bank
1) Should I invest in IDFC FD rates as their rates are high?
IDFC First Bank is one of the private banks offering high interest rates between 7.25% to 7.5%.
2) Are there any best FD interest rates in SBI?
SBI FD rates are lower in India, hence one should avoid it
3) Which Bank has highest FD interest rates in India?
DCB offers highest FD interest rates in India for 3 years – 7.85%
4) Which Bank gives highest interest on FD for 1 year?
RBL Bank gives highest interest on FD for 1 year – 7.6%
5) Is FD a good investment?
FD is a good investment for low risk investors or for investors who want to park their idle money or surplus money for short term.
6) Can I double my money in 5 years?
Bank FD offers interest rates up to 7.85% interest for specific tenure. However the majority of them offer up to 7.5% interest rates. If you want to double your money, it would take around 9.5 years.
7) Is Interest on FD Taxable?
Yes the FD interest is taxable. One needs to add such FD interest to their income and pay income tax based on the income tax slab applicable to them.
8) What is the minimum and maximum tenor for FD?
Banks offer FD for a minimum of 7 days and maximum tenor of 10 years.
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 FD Interest Rates in Nov-19 – FD Rates Comparison
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Thanks for details sir. Request to add Post office TD as well. Recently I noticed they are giving 7.7% interest rate for 5 years tenure. Also safety is 200% whereas banks insured only for 1lac
It seems Yes Bank interest rates not accurate. They offer 7.5% for 2 years to less than 3 years
Why have you not considered equitas bank in this
Hello Rahul, Equitas in Small finance bank and we have covered this 2 weeks back in Bank FD Rates for small finance bank article. Link is here. https://myinvestmentideas.com/2019/10/best-fd-interest-rates-from-small-finance-banks-oct-2019/
What you think about the fate of DHFL FD and RD
I have deposited
Please make a report .
Would do separate analysis for this