Fixed deposits (FDs) are one of the safest investment options available in India. This is because you earn interest income on the amount you deposit at predetermined FD interest rates fixed by NBFCs or banks.

 

This means you can plan your investments and expect handsome returns with a high degree of certainty. Investing in fixed deposits is an excellent way to park your funds in a productive and profitable manner. 

 

As such, the interest earned through fixed deposits are safe and guaranteed until the date of maturity. However, before you book your FD, it is essential for you to understand the crux of FD rates. 

 

You can also calculate FD interest rates with the help of the handy interest rate calculator provided below:

Understanding the fixed deposit interest rates can help you make informed decisions in choosing the right FD scheme. Here is a comparison of interest rates across different tenors on deposits under ₹2 Crores offered on Bajaj Markets.

Disclaimer: The above-mentioned rates are effective as of 15 September 2023, and are subject to change as per the NBFC/bank’s discretion. 

Disclaimer: The above-mentioned rates effective as of 15 September 2023, and are subject to change as per the NBFC/bank’s discretion. 

This table showcases some of the highest FD interest rates offered by banks on deposits under ₹2 Crores for non-senior citizens in 2023. 

Disclaimer: The above-mentioned rates are effective as of 15 September 2023, and are subject to change as per the NBFC/bank’s discretion. 

This table displays some of the highest interest rates on deposits under ₹2 Crores for fixed deposits for senior citizens in 2023. If you are a senior citizen, you can compare these rates to assess which bank offers the best interest rate for fixed deposit.

Disclaimer: The above-mentioned rates are effective as of 15 September 2023, and are subject to change as per the NBFC/bank’s discretion. 

Below are the maximum interest rates for some of the top NBFCs for non-senior citizens on deposits under ₹2 Crores. You can compare and choose your most preferred one while booking an FD:

Disclaimer: The above-mentioned rates are effective as of 15 September 2023, and are subject to change as per the NBFC/bank’s discretion. 

Here are the FD interest rates offered by some of the top NBFCs/HFCs for senior citizens on deposits under ₹2 Crores:

Disclaimer: The above-mentioned rates are effective as of 15 September 2023, and are subject to change as per the NBFC/bank’s discretion. 

Here is a comparison of some of the highest FD interest rates offered by banks and NBFCs on deposits under ₹2 Crores for regular citizens for different tenors ranging from 1 year to 10 years.

Disclaimer: The above-mentioned rates are effective as of 15 September 2023, and are subject to change as per the NBFC/bank’s discretion. 

Many foreign banks operate in India and offer competitive interest rates on fixed deposits, making them an attractive investment option. Check the table for some of the best FD interest rates offered on deposits under ₹2 Crores.

Disclaimer: The above-mentioned rates are effective as of 15 September 2023, and are subject to change as per the NBFC/bank’s discretion. 

Just like there are different types of fixed deposits, there are different types of FD interest rates too. Generally, there are 2 types of fixed deposit interest rates offered by issuers. These are – fixed and floating (flexi) FD interest rates. 

 

Here’s how both of the FD rates work and their impact on your returns:

1. Fixed interest rate on FD

Fixed FD rates remain the same throughout the entire duration of your investment. This means that the interest rate you receive when you invest in an FD remains constant throughout the investment term. 

 

As a result, the interest earned on your investment is also fixed and predictable. Hence, you must compare FD rates across all banks and NBFCs before selecting an FD plan. 

 

These FD interest rates are ideal if you think the current rates may decline or stay unchanged throughout your tenor. This is because any impact on interest rates has a direct impact on your returns.

2. Floating interest rate on FD

This interest rate fluctuates throughout your investment tenor, resulting in fluctuated returns. The fluctuation in the rate is a direct result of market fluctuations. Hence, compared to the returns from a fixed interest FD, the returns from this interest rate may be higher or lower.

 

This is because a positive trend in the market will result in increased FD rates and, as such, increased returns. However, a negative trend will result in reduced rates and, as such, reduced returns.

 

Given this, floating interest rates are a good idea if you think that the current FD interest rates are going to see an upward trend and not a downward trend. This will enable you to ride the economic upswing and maximise returns.

 

Here are the top 10 tax saver FD interest rates for the year 2023. Tax saver FDs are a popular investment option if you are looking to save on taxes under Section 80C of the Income Tax Act, 1961. 

 

This table compares the interest rates different financial institutions offer and can help you make an informed decision based on your investment goals and tax planning requirements.

When you invest in FD, it is crucial that you estimate your returns, as it will help you choose among the best fixed deposit rates. At Bajaj Markets, you can choose from a host of FD offers that come with some of the highest FD rates in India, going up to 8.60% per annum.