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Highest Fixed Deposit Interest Rates Offered By Banks And NBFCs

Updated on 15 July, 2019 at 10:31 am By

A fixed deposit is a trusted and safe investment option where you set aside a sum of money, which accumulates a fixed interest for a fixed tenor. It’s a simple and straightforward investment approach that makes it a favourite for investors, regardless of their risk appetite. Fixed deposits are offered by both banks and NBFCS, and there are several fixed deposit options to pick from. 


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To maximise your investments, you must choose one that gives you high returns without compromising your investment’s security. While bank fixed deposits are often considered safe, it is best to select a company fixed deposits with high stability ratings, to avoid risks of default or delays in interest payments. 

 

If you’re looking for the best fixed deposit interest rates, here’s a list to help you make the right choice. 

 

An overview of the FD interest rates in India

Issuer Interest rate offered
Regular investor Senior Citizen investor
Bajaj Finance 8.60% 8.95%
Bandhan Bank 7.65% 8.40%
IDFC Bank 7.50% 8.00%
HDFC Bank 7.40% 7.90%
ICICI Bank 7.30% 7.80%
Axis Bank 7.30% 7.80%
SBI 6.75% 7.25%


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As you’ll notice, the Bajaj Finance Fixed Deposit leads the way with the highest interest rate on offer.



 

Why the Bajaj Finance FD is a must in your investment portfolio?

Data from the table shows you that Bajaj Finance offers amongst the best FD interest rates in the country so that you can maximise yield from the get-go. 

For example, if you invest Rs. 1 lakh for a tenor of 36 months with 8.60% as your rate of interest, you can earn Rs. 28,082 as interest and bring your total to Rs. 1.28 lakh at maturity. This significant boost is all thanks to the power of compounding interest! 

In this manner, Bajaj Finance FD allows you to meet your financial needs easily. 

 

Moreover, the gains are higher if you’re a senior citizen as you get FD interest rates of up to 8.95% for a FD that you hold for at least 36 months with interest payable at maturity. This makes it a lucrative option for retirees who are looking to secure their golden years. 

 

Additionally, when you reinvest your corpus, Bajaj Finance offers an additional 0.10% interest as a renewal bonus. If you wish to receive payouts periodically to meet recurring expenses, Bajaj Finance allows you to do so on a monthly, quarterly, half-yearly or annual basis. It is also easy to invest in this FD as the minimum investment amount is just Rs. 25,000. Best of all, this fixed deposit has the highest security ratings. It has both ICRA’s MAAA and CRISIL’s FAAA ratings that indicate that it is extremely stable.  


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Apart from substantial returns and safety, Bajaj Finance goes the extra mile to simplify the investment process for you. You can book an appointment by filling out an online application form and authorise a representative to get in touch with you. The representative will guide you through the steps you need to complete to start investing for your future.

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