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New Delhi: All banks keep revising their Fixed deposit rates from time to time so that the investor’s money can grow. Fixed deposits of banks in India, usually have 7 days as minimum tenure while the maximum tenures is 10 years.
List Of Major Private And Public Sector Banks Offering High Interest Rates On 1 Year FD Tenure
One-Year Fixed Deposits By Major Private Sector Banks
| IndusInd Bank | 7.75 |
|---|---|
| Bandhan Bank | 7.25 |
| Karur Vysya Bank | 7 |
| Karnataka Bank | 7.1 |
| Kotak Mahindra Bank | 7.1 |
| YES Bank | 7.25 |
| City Union Bank | 7 |
| HDFC Bank | 6.6 |
| ICICI Bank | 6.7 |
| Federal Bank | 6.8 |
| IDFC First Bank | 6.5 |
| Axis Bank | 6.7 |
One-Year Fixed Deposits By Public Sector Banks
| Indian Overseas Bank | 6.9 |
|---|---|
| Bank of Baroda | 6.85 |
| Canara Bank | 6.85 |
| Central Bank of India | 6.85 |
| Bank of India | 6.8 |
| Punjab National Bank | 6.8 |
| State Bank of India | 6.8 |
| Union Bank of India | 6.8 |
| Bank of Maharashtra | 6.75 |
| Punjab & Sind Bank | 6.3 |
| Indian Bank | 6.1 |
Data collated from online/websites
Meanwhile, on August 8, the Reserve Bank of India kept the key interest rates unchanged for the 9th consecutive time, and also keeping the growth projection unchanged at 7.2 percent for the current financial year.
RBI Governor Shaktikanta Das, announcing the outcome of the three-day Monetary Policy Committee (MPC) meeting said that the repo rate has been kept unchanged at 6.5 percent.
“Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 percent, ” he added.
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