All Banks Fixed Deposit Interest Rates

The returns on fixed deposits are calculated on a certain rate. This rate of return is known as the fixed deposits interest rate. The rate is determined by the bank at the time of booking the deposit and remain same throughout the term of deposit. Thus, the depositor receives the hike on the invested amount at the regular and fixed rates.

Fixed Deposit Interest Rates All Banks 2019

Want to take your fixed deposit corpus to a high? Then, compare the fixed deposit interest rates offered by banks in India.

BanksInterest Rates
Allahabad Bank4.75% - 6.25%
Andhra Bank3.50% - 6.10%
Axis Bank3.50% - 6.70%
Bajaj Finance/Finserv7.60% - 8.10%
Bandhan Bank3.50% - 8.00%
Bank of Baroda4.30% - 6.25%
Bank of India4.25% - 7.90%
Bank of Maharashtra4.25% - 6.00%
Canara Bank4.50% - 6.90%
Central Bank of India3.95% - 6.30%
Citibank3.00% - 5.25%
Corporation Bank4.75% - 6.60%
Dena bank4.30% - 6.25%
Federal Bank3.50% - 6.85%
HDFC Bank3.50% - 6.90%
HSBC Bank3.00% - 6.75%
ICICI Bank4.00% - 6.90%
IDBI Bank3.50% - 6.95%
IDFC Bank4.00% - 7.50%
IndusInd Bank4.00% - 8.50%
Jammu & Kashmir Bank4.50% - 6.35%
Karnataka Bank3.50% - 6.80%
Karur Vysya Bank4.40% - 6.95%
kotak Mahindra Bank3.50% - 6.30%
Lakshmi Vilas Bank4.50% - 8.40%
Nainital Bank4.10% - 7.00%
Oriental Bank of Commerce4.00% - 6.25%
Punjab & Sind Bank4.00% - 6.45%
Punjab National Bank4.30% - 6.80%
RBL Bank5.00% - 8.00%
SBI4.00% - 6.75%
Standard Chartered Bank3.20% - 7.10%
Syndicate Bank4.50% - 6.60%
UCO Bank4.00% - 6.80%
United Bank Of India4.00% - 6.50%
Vijaya Bank4.30% - 6.25%
Yes Bank5.00% - 8.00%

What is the process of Interest Calculation on the Fixed Deposit of Different Banks?

Now you know the all banks fixed deposit interest rates, you must want to know about the process that banks use to calculate interest on the said product. There are two processes through which banks offer interest on fixed deposit schemes. These are Cumulative and Non-cumulative. The option to choose between these two depends solely on you. Don’t worry, as we will be telling you about both these processes in detail so that you can make a better decision. 

Cumulative Interest Calculation: 

In this process of interest calculation, you deposit a fixed amount of money for a definite period. The interest will be calculated on a quarterly basis by default. And at the end of every quarter, your interest amount will be reinvested with the principal amount. The whole accumulated amount will be paid to you at the time of maturity which can be as short as 7 days to as long as 10 years. 

This process is generally opted by those who want to save and earn a large amount at the end of the long investment period as you can only get principal and accumulated interest at the end of the maturity period. 

For example, if you invest an amount of ₹ 4,00,000 for a period of 4 years at an interest rate of 8.1% per annum, then at the end of your maturity period you will get a total amount of ₹ 5,90,457 including interest of ₹ 1,90,457. 

Non-Cumulative Interest Calculation:

In this process, the interest rate on your deposited amount is calculated on a monthly, quarterly, half-yearly, and yearly basis. The calculation process depends on your choice. The interest will be paid to you at the frequency of interest chosen by you and it will not be reinvested in the principal amount again. So, you need to remember this thing while choosing any of the non-cumulative interest calculation options. 

Individuals who are looking for a fixed amount as a stable income at the end of a definite interval find this process beneficial for them. One of the examples is Senior Citizens who also enjoy higher interest rates as compared to the standard rate of interest and want a fixed source of income during their retirement years.

For Example, if you invest an amount of ₹ 1,00,00 for a period of 1 year at an interest rate of 7.6% per annum, the amount you get at different frequencies can be seen in the table given below.

FrequencyInterest RateInterest Payout (In ₹)
Monthly7.35%612
Quarterly7.39%1848
Half-yearly7.46%3730
Yearly7.60%7600

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