Earn interest up to 7.45% p.a. by investing in a Bajaj Finance Fixed Deposit | Stable Rating - CRISIL’s FAAA & ICRA’s MAAA

In a bank fixed deposit, you invest a certain amount in your bank for a fixed tenor at an agreed interest rate. The amount gets compounded over time. It is one of the most popular and sought-after investment options in India as it is safe and offers assured returns. Certain banks offer high fixed deposit interest rates. Here is a look at the current best FD rates in India.

Best FD Rates in India 2022

Check the latest and best FD interest rates offered by the top banks and NBFCs in India for tenors ranging from 7 days to 10 years as of 10th May 2022. Bajaj Finance FD on Bajaj MARKETS offers some of the highest FD rates in India.

Financial Institutions Non-Senior Citizen FD Rates Senior Citizen FD Rates Tenor
Bajaj Finance FD 5.75% to 7.08%  5.84% to 7.45% 12-44 months
SBI BANK FD 2.90% -5.40% 3.40%-6.20% 7 days-10 years
HDFC BANK FD 5.75%-6.25% 6.00%-6.50% 33-99 months
ICICI BANK FD 2.50% – 5.50% 3.00% - 6.30% 7 days to 10 years
AXIS BANK FD 2.50%-5.76% 2.50%-6.25% 7 days-10 years
PNB BANK FD 5.90%-6.70% 6.15%-6.95% 12-120 months
CANARA BANK FD 2.95% to 5.50% 2.95% to 6.00% 15 days - 120 months
BANK OF INDIA FD 2.85% - 5.15% 3.35% - 5.65% 7 days to 10 years
UNION BANK FD 3.00% - 5.60% 3.50% - 6.10% 7 days to 10 years
INDIAN BANK FD 2.90% - 5.15% 3.40% - 5.65% 7 days to 10 years
IOB BANK FD 3.40% - 5.25% 3.90% - 5.75% 7 days to 3 years & above
KOTAK BANK FD 2.50% - 5.41% 3.00% - 5.93% 7 days to 10 years
AU SMALL FINANCE BANK FD 3.50% - 6.40% 4.00% - 6.90% 7 days to 10 years
BANDHAN BANK FD 3.00% - 5.00% 3.75% - 5.75% 7 days to 10 years
BOB BANK FD 2.85% - 5.25% 3.35% - 6.25% 7 days to 10 years
IDBI BANK FD 2.70% - 5.25% 3.20% - 5.75% 7 days to 10 years
YES BANK FD 3.25% - 6.66% 3.75% - 7.45% 7 days to 10 years
INDUSIND BANK FD 2.75% - 6.94% 3.25% - 7.61% 7 days to 10 years
FEDERAL BANK BANK FD 2.50% - 5.60% 3.00% - 6.25% 7 days to 10 years
IDFC BANK FD 2.75% - 6.00% 3.25% - 6.50% 7 days-10 years
UCO BANK FD 2.75% - 5.64% 3.00% - 6.28% 7 days-10 years
Bank of Maharashtra FD 2.75% - 4.90% 3.25% - 5.40% 7 days-10 years
DBS BANK FD 2.50% - 5.50% 2.50% - 5.50% 7 days-10 years
HSBC BANK FD 2.25% - 4.00% 2.75% - 4.50% 7 days-5 years
DEUTSCHE BANK FD 1.80% - 6.25% 1.80% - 6.25% 7 days-5 years
SBM BANK FD 3.25% - 6.00% 3.75% - 6.50% 7 days-10 years
CENTRAL BANK OF INDIA BANK FD 2.75% - 5.00% 2.75% - 5.00% 7 days-10 years
RBL BANK FD 3.25% - 6.50% 3.75% - 7.00% 7 days-10 years
LIC Housing Finance FD 5.25% to 5.75% 5.75% to 6.25% 1 year - 5 years
PNB Housing Finance FD 5.90% to 6.70% 6.40% to 7.20% 1 year - 10 years
ICICI Home Finance FD 5.70% to 6.65% 7.95% to 6.90% 1 year - 10 years
Shriram City Union Finance FD 7.25% to 9.73% 7.65% to 10.13% 1 year - 5 years
Jana Small Finance Bank FD 2.50% to 7.35% 3.00% to 7.25% 7 days - 10 years
Utkarsh Small Finance Bank FD 3.00% to 7.00% 3.50% to 7.50% 7 days - 10 years
Equitas Small Finance Bank FD 3.60% to 6.80% 4.10% to 7.30% 7 days - 10 years

Bajaj Finance Interest Rates

Bajaj Finance FD is known for offering some of the highest interest rates in the market. The Bajaj Finance FD interest rate ranges from 5.75% to 7.45%. For individuals below 60 years of age, the rates are as high as up to 7.20%. Senior citizen FD has an additional benefit of 0.25% FD interest rate. You can invest up to ₹5 crore in Bajaj Finance FD with a minimum deposit of ₹15,000. The application process is also easy and paperless with online payment options like net banking and UPI.

Highest FD Rates in India

Bank or Financial Institution FD interest rates for non senior citizens (p.a.) FD interest rates for senior citizens (p.a.)
Bajaj Finance FD 5.75% to 7.08% 5.84% to 7.45%
Yes Bank FD 3.50% to 7.35% 4.00% to 7.50%
IndusInd Bank FD 2.75% to 6.25% 3.25% to 7.35%
United Bank of India FD 4.00% to 6.00% 4.50% to 6.50%
Axis Bank FD 2.50% to 5.75% 2.50% to 6.50%
ICICI Bank FD 2.50% to 5.50% 3.00% to 6.30%
HDFC Bank FD 2.50% to 5.50% 3.00% to 6.25%

Bajaj Finance FD on Bajaj MARKETS

Bajaj Finance FD is a one-stop solution for all your investment needs. The interest rate of Bajaj Finance FD depends on the type of customer and the tenor of investment. For both short term and long term investment plans, Bajaj Finance FD can be the best option as it offers the highest interest rates and great flexibility. All these benefits can be availed with safety and assured returns. You can open a Bajaj Finance FD now on Bajaj MARKETS.

Period

Minimum deposit

(in Rs.)

Cumulative At Maturity (% p.a.)

Non-Cumulative

Monthly 

(% p.a.)

Quarterly 

(% p.a.)

Half Yearly 

(% p.a.)

Annual 

(% p.a.)

12 – 23 months

15,000

5.75%

5.60%

5.63%

5.67%

5.75%

24 – 35 months

6.40%

6.22%

6.25%

6.30%

6.40%

36 - 60 months

7.00%

6.79%

6.82%

6.88%

7.00%

Special Tenure FD Rates for Non-Senior Citizens

Period

Minimum deposit

(in Rs.)

Cumulative At Maturity (% p.a.)

Non-Cumulative

Monthly 

(% p.a.)

Quarterly 

(% p.a.)

Half Yearly 

(% p.a.)

Annual 

(% p.a.)

15 months

15,000

6.00%

5.84%

5.87%

5.91%

6.00%

18 months

6.10%

5.94%

5.97%

6.01%

6.10%

22 months

6.25%

6.08%

6.11%

6.16%

6.25%

30 months

6.50%

6.31%

6.35%

6.40%

6.50%

33 months

6.75% 6.55% 6.59% 6.64% 6.75%

44 months

7.20%

6.97%

7.01%

7.08%

7.20%

Disclaimer: The aforementioned Bajaj Finance FD interest rates are valid for deposits of up to ₹5 crore w.e.f. May 10, 2022.

Fixed Deposit Details for Different Banks

FAQs

  • ✔️What is the interest rate on Bank FD for senior citizens?

    Presently, most of the banks offer a rate of interest ranging from 3.50% – 9.25% for senior citizen FDs. Bajaj Finance Fixed Deposit also provides a high interest rate of 7.45% for senior citizens.

  • ✔️Which bank FD is best?

    A lot of banks in India offer an attractive rate of interest of Fixed Deposit schemes ranging from 5-7%. Bajaj Finance Fixed Deposit also provides a high rate of interest of 7.45%. 

    Here are some of the best Fixed Deposit schemes:

    Company Name

    Tenure

    Interest Rate

    Housing and Urban Development Corp Ltd

    1 year

    9%

    Housing and Urban Development Corp Ltd

    2-3 years

    9.15%

    Kerala Transport Development Finance Corporation Ltd

    1 year

    8.25%

    Mahindra Finance

    3 years

    7.80%

    Shriram City Union Finance

    1 year

    7.50%

  • ✔️What is the minimum amount required to start a bank FD?

    You can start an FD at Finserv MARKETS with as low as ₹15,000.

  • ✔️Is the interest earned on a bank FDs taxed?

    Yes, interest earned on Fixed Deposits is classified as 'income from other sources' and is subject to income tax. Hence, the income is added to the total income of the taxpayer, and the tax liability is as per the income tax slab.

  • ✔️Is there a penalty if the bank FD is prematurely withdrawn?

    Yes, in case of premature withdrawal, the investor has to pay a certain amount as a penalty to the bank. The amount charged usually ranges from 0.50 % to 1.00 % of the interest.

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