Best Fixed Deposit (FD) Interest Rates 2023

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. 

FD Interest Rates of Non-Senior Citizens for Partners 2023

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 offered by leading partners of Bajaj Markets.

 

FD Interest Rates of Senior Citizens for Partners 2023

The table below gives you a comparison of FD interest rates across different tenors.

 

Top Bank FD Interest Rates of Non-Senior Citizens in 2023

This table showcases some of the highest FD interest rates offered in banks for non-senior citizens in 2023. 

 

Top Bank FD Interest Rates of Senior Citizens in 2023

This table displays the highest interest rates 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.

 

Highest FD Interest Rates with Different Tenors

Here is a comparison of some of the highest FD interest rates offered by banks and NBFCs in India for different tenors ranging from 1 year to 10 years. 

 

FD Interest Rates of Leading Foreign Banks 2023

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.

 

Types of FD Interest Rates in India 2023

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 rate. 

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

• 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.

• 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.

Top 10 Tax Saver FD Interest Rates 2023

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. 

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. 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.