Best & 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.
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 in India – March 2019
- How a 5K SIP Can Fetch You Rs 1.8 Lakhs per Month Fixed Income in Mutual Funds in 30 Years? - April 16, 2024
- Bandhan Innovation Fund NFO – Issue Details and Review - April 14, 2024
- I’m 40, Have 30 Lakhs, Where Should I Invest in Mutual Funds? - April 13, 2024
Deutsche Bank offers 8% rate of interests on FD with 1 Year and 1 Day. So shouldn’t 1 year FD rate be shown as 8% in place of 6.5%
No right. 1 year means 1 year. Banks are offering special rates for beyond 1 year / specific days.
Why is there no mention of DBS (Development bank of Singapore) ? It gives FD rate of 7.5 per annum.
You have left out small finance bank FD, also YES BANK
You should also cover the interest rates of small finance banks. Fincare offers 9% interest for 3 years.
Let me cover that seperately. Many investors are not interested in investing in small finance bank FDs as they are operated within limited locations
Why not include small finance banks in same table given the fact that their deposit insurance treatment is same as other banks?
Let me cover that seperately. Many investors are not interested in investing in small finance bank FDs as they are operated within limited locations