FD interest rate: 10 major banks offer the highest interest rates on 1-year fixed deposits. These include big names like HDFC Bank and SBI. Check out the full list.
IndusInd Bank
offers a 7% interest rate on its one-year FD. If you invest Rs 1 lakh, it will grow to Rs 1,07,000 at the end of the year.
Axis Bank
offers a 6.6% interest rate on one-year fixed deposits. An investment of ₹1 lakh grows to ₹1,06,600.
HDFC Bank,
The country’s largest private bank, also offers an interest rate of 6.6% on one-year fixed deposits. An investment of ₹1 lakh grows to ₹106,600.
Kotak Mahindra Bank:
Private sector Kotak Mahindra Bank also offers a 6.6% rate. An FD of Rs 1 lakh grows to Rs 1,06,600 at the end of the year.
ICICI Bank
offers 6.4% interest on one-year fixed deposits. An investment of ₹1 lakh can yield ₹106,400.
Bank of Baroda
is a public sector bank that offers 6.6% interest on one-year fixed deposits. An investment of ₹1 lakh grows to ₹106,600.
Punjab National Bank
(PNB) also offers a 6.6% interest rate on one-year fixed deposits. An investment of Rs 1 lakh can grow to Rs 106,600 at the end of the year.
Union Bank of India
offers a 6.5% interest rate on a one-year FD. An investment of ₹1 lakh grows to ₹1,06,500.
Canara Bank
also offers a 6.5% interest rate. An FD of Rs 1 lakh can grow to Rs 106,500 at the end of the year. This bank is known as a safe investment option for the long term.
State Bank of India (SBI)
The country’s largest bank, offers a 6.45% interest rate on one-year FDs. An investment of Rs 1 lakh will grow to Rs 1,06,450 at the end of the year.
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