Top Bank FD Interest Rates 2023

Financial Institution Offering Highest FD Interest Rates in India

Non-Banking Financial Companies (or NBFCs) and other small financial companies also provide investment options of fixed deposit. Bajaj Finance offers one of the highest FD interest rates to its clients. With a minimum investment of ₹15,000 and a choice of a duration between 12 months and 5 years, the organisation provides a maximum interest rate of 8.20%. IDFC First Bank offers, on a one-year tenor basis, one of the highest bank FD rates, 6.50% per annum for senior citizens, and 6.00% per annum for non senior citizens. Be sure to use a fixed deposit calculator to know the maturity amount and interest that you will accrue over time before making an investment.

Best Fixed Deposit Interest Rates in India 2023

A fixed deposit is a secure investment choice that ensures constant interest rates, special rates of interest for senior citizens, a variety of interest payment options, no market-related risks, and income tax deductions. Before renewing an existing bank FD or opening a new bank fixed deposit, it is crucial to compare the most recent bank FD interest rates. However, you need not waste time on researching FD interest rates of all banks when you can find all your answers right here.

FD Interest Rate of Top Banks

The most recent bank FD interest rates are provided by the major banks as of 2023 for tenors ranging from seven days to ten years and an all-bank interest rates list is given below in their maximum value.

Now that you have taken a look at the FD interest rates of all banks, the most recent FD interest rates provided by the major NBFCs as of 4th March, 2023 for tenors of up to five years are listed below:

Highest Bank FD Interest Rates for 1 Year 

As of December 2022, after due consideration of the FD interest rates of all banks, the following are the highest bank FD rates (one year) that can be offered to you:

The following are some of the highest one-year FD interest rates that NBFCs offer:

Highest Bank FD Rates for 2 Years

Now that you are aware of the best fixed deposit rates bank listing, below are some of  the highest two-year bank FD interest rates as of February 2023::

The following are some of the highest bank FD rates (two-year) that NBFCs will offer:

Highest Bank FD Interest Rates for 3 Years

As of December 2022, the following are the highest three-year FD interest rates offered by the NBFCs:

The following are the highest FD rates (three-year) that NBFCs will offer:

Highest Bank FD Interest Rates for 5 Years

The following are among the highest five-year bank FD interest rates:

Bank FD Interest Rates for Senior Citizens

Senior citizens receive exceptional bank FD interest rates, commonly referred to as "term deposits" or "time deposits.” All reputable banks offer senior citizens fixed deposit options that come with a number of advantages. Senior citizens also benefit from receiving a fixed deposit interest rate that is up to 0.50% higher than that of non-senior citizens.

Senior citizens typically prefer to deposit their savings in a fixed deposit account since it guarantees confidence, safety, and security. The greater bank FD interest rates when compared to other investments is another factor, in addition to safety and confidence.

The following leading banks provide senior citizens with fixed deposit accounts at the best rates for the year 2023:

The following leading NBFCs provide senior citizens with fixed deposit accounts at some of the best rates for the year 2023:

Disclaimer : The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort. The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks/ NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products. 

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