Latest Bank FD Interest Rates in India-July-2016

Latest Bank FD Interest Rates in India-July 2016Latest Bank FD Interest Rates in India-July-2016

In the last couple of months, bank FD rates are in decline mode. Last month, RBI has not changed the repo rate which is a big relief to investors who are planning to invest in bank FD’s. If you are planning to invest in bank FD’s you should consider investing now before the next rate cut. Which are those positive movers in bank FD rates in the last 3 months? Which are those still providing better interest rates now in July-2016? In this article I would provide Latest Bank FD Rates in India in July 2016, postive movers and negative movers. These current Bank FD rates in July 16 would help investors to invest in fixed deposits offering highest interest rates.

Also Read: 5 Mutual Fund Schemes that can triple your money in short term to medium term

Positive movers

  • Foreign banks:  No positive movement in Foreign bank FD rates.
  • Private Banks: No positive movement in private banks FD Rates.
  • Public Sector Banks: Repco Bank and Vijaya Bank have increased FD rates for 1 to 2 years.

Negative Movers

  • Foreign Banks: Almost all the foreign banks have reduced FD rates in the last 3 months. Interest rates are now in the range of 5.4% to 8.5%.
  • Private Banks: Almost all banks except for a few have reduced the FD rates. Interest rates are ranging between 7.25% to 8.5% per annum.
  • Public Sector Banks:  All public sector banks have reduced interest rates for short term, medium term and long term Fixed deposits. Interest rates are ranging between 6.75% to 8.25% per annum.

What does this mean for investors?

As I always indicated in my previous articles, investors should park money for the long term. Foreign banks still provide lesser interest rates. The best way is to invest in bank FD schemes of public sector banks and large private banks.  You can also refer latest post office interest rates which are higher compared to some of these Bank FD Rates.

Which banks are providing higher interest rates now?

  • If you are willing to park your money in foreign banks (in India), you can look for Deutsche Bank where they are offering 7.25% to 8.5% interest rates for 2 to 5 year period.
  • If you are willing to park your money in Private sector banks, you can look for Ratnakar Bank, DCB, KVB, Lakshmi Vilas Bank, Citi Union Bank, Karnataka Bank and Bandhan Bank, etc., for long terms of 5+ years as they provide highest FD rates in India.
  • If you are willing to park your money in Public sector banks, you can look for Andhra Bank, Canara Bank, IDBI Bank, Union Bank of India, Repco Bank, SBH and Syndicate bank which provides highest interest rates for fixed deposits of 5+ years.

Comparison of current and latest bank FD interest rates among various banks in India.

The comparison list would help investors to choose the right bank for fixed deposits. Green indicates that the rates have been increased compared to our previous article and RED indicates that the rates are reduced compared to our previous article (article published in Apr-16). 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.

Also Read: Edelweiss Housing Finance NCD offers 10% interest rates – Should you invest?

Latest and current Bank FD Interest Rates-July-2016

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Latest Bank FD Interest Rates in India-July-2016

Suresh KP


  1. Informative article. Could you please come up with an article on RD rates also. Please try to include Standard Charted as well.

  2. Keep up the good work. Might be a good idea to add the newly licensed banks.
    For eg, IDFC Bank is giving 8.25% on FDs.

  3. Dear Suresh:

    I recently joined the group and getting the mails from you… Very useful and understandable…

    Thanks, KH Baskaran, Chennai

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