Latest Bank Fixed Deposit (FD) interest rates in India (Sep-2013)

Latest Bank Interest FD rates in India (Sep-2013)Latest Bank Fixed Deposit (FD) interest rates in India (Sep-2013)

Latest bank FD rates indicate that there is increase in interest rates in the last 30 days. Last 4 weeks have been celebration time for investors. IIFL Bonds, REC tax free bonds and HUDCO tax free bonds have been offering high interest rates. Majority of the banks have increased interest rates for short term.

Also read: Bank FD Vs Debt Mutual Funds – Which is better?

Positive movers

  • Foreign banks: After long time, I am seeing positive moment in interest rates for Citibank and HSBC Bank. Earlier the interest rates were pathetic compared to other banks.
  • Private Banks: Federal Bank, HDFC Bank, ICICI Bank and Kotak bank have increased interest rates for short term.
  • Public Sector Banks: Andhra Bank now offers high interest rates of 9.5%. This is the highest in the last 1 year among all the major banks. Bk of Maharastra, Karnataka Bank, Indian Bank and SBH and other positive movers in interest rates.

Negative Movers

  • Foreign Bank: Deutsche Bank slashed the rates.
  • Private Banks: No negative movements
  • Public Sector Banks: Canara Bank and UBI have slashed the bank FD interest rates.

Comparison of 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 month article and RED indicates that the rates are reduced comparing to our previous month article. is the only website in India which tracks FD rates month on month and provides whether a particular bank has increased the FD rate or slashed the FD rates. This is a unique feature of our blog.

Latest Bank Interest Fixed Deposit (FD) rates in India (Sep-2013)

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Latest Bank Interest Fixed Deposit (FD) rates in India

Suresh KP


  1. Dear Sir,

    I want to know about compounding interest scheme. To enjoy compounding interest where to invest?

    Thanks & Regards,


    1. Hi Anant, Any investment option which indicates that interest would be compounded quarterly or annually can be looked. e.g. All Bank FD schemes pay interest quarterly or annually and the interest is compounded, means you would get compound interest on your interest. 

  2. dear suresh sir, vijaya bank is also offering upto 9.75 % 9.6% and 9.5 % on selected maturities named as v-samman, v-siddhi and v- vaibhav. i think vijaya bank is public sector bank.

  3. Dear Suresh,

    Thanks once again for this article on FD which is very gud for investors. I want to know about CD account in karnataka bank,,,they are offering for 5 to 10 yrs with monthly instalments, is it similar to RD. Please let me know this.

    Thanks n regards

  4. Dear Suresh,

    I am 24 and persuing my post graduation.I am regular reader of you blog and congratulate you on doing such a wonderful work.

    Now i am having 40k rs where i should invest to get max. returns after 1year i can take moderate risk.Please advise.


    Thanks n Regards


    1. Hi Bhanu, For short term investment of 1 year, invest in Bank FD only. Andhra Bank is offering 9.5% returns for 1 year. This could be one option. If you can take some risk, you can invest in debt mutual funds like SBI Dynamic Bond fund or IDFC Dynamic Bond Fund.

  5. Dear Suresh.  Thanks for the nice compilation of interest rates which is very good for investors before taking the decision to invest.  One observation is that KVB is not included in the list and this bank is offerring 10% interest for deposits upto 1 year  ( highest of all banks..I think)  Please share the same with all so that they can benefit as well.


    Thanks and regards  raman

    1. Thanks Raman. Agreed KVB offers 10% interest rate for 1 year. Since there are several private banks, I have included only major ones. I have noted this and would add in my next month article. 

      1. Dear Suresh. Thanks for considering my point on KVB. I did not know that KVB is a private bank. Is it safe to invest in a private bank? Will my money be treated the same way as other public sector banks? Please clarify as I will be investing my retirement funf in the bank. Thanks n regs raman

        1. Hi Raman, All banks are monitored and controlled by RBI. However the risk is still there. We should not forget about GTB and Prudential bank incidents. Since the trust is not yet built in, small private banks offer high interest rates beyond 9%. If you are looking for save option, invest in Andhra Bank where they are offering 9.5% for 1 year deposits.

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