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FD Interest Rates Compared: Axis Bank VS Yes Bank Vs IDFC First Bank Vs RBL Bank
Fixed deposits (FDs) have continued to flourish among Indians who wish to invest in products that would give them with predictable returns over time. For risk-averse investors in the market, FDs are still the preferred alternative. FD investment provide a consistent rate of return. People like FDs because of the stability element, which allows them to keep their hard-earned money secure while also anticipating a return.
Fixed deposits are one of the most secure and popular investment options in the country. While certificates of deposit (CDs) are a good investment, interest rates have declined in recent years, reducing their appeal. FD rates have been dropping since the Covid-19 pandemic broke out. Some private sector banks, on the other hand, continue to offer greater fixed deposit returns. Check out Fixed Depsoit Interest Rates offered by 4 Private Sector Banks.
Yes Bank
Yes Bank offers the highest interest rate on deposits of up to Rs 1 crore for a minimum of 5 years, with a 6.25 percent annual return. The bank also provides one of the highest interest rates for the smallest tenures, with a return rate of 4.75 to 5% on deposits for 6 months to one year.
Fixed Deposit Under 2 Crore Deposit w.e.f. 04 January 2022
| Tenure | Regular Interest Rate(p.a%) | Senior Citizen |
|---|---|---|
| 1 Year < 18 months | 5.75% | 6.25% |
| 18 Months to < 3 years | 6.00% | 6.50% |
| 3 Years to <= 10 years | 6.25% | 7.00% |
IDFC First Bank
The bank offers an interest of 6.25% on FD investment for over 5 years, IDFC First bank is second on the list. IDFC FIRST Bank offers one of the highest fixed deposit rates for general and senior citizens. Senior citizens are given an added advantage and can earn 0.50% additional as interest.
Fixed Deposit Under 2 Crore Deposit
| Tenure | Regular Interest Rate(p.a%) | Senior Citizen (p.a%) |
|---|---|---|
| 1year - 2 years | 5.75% | 6.25% |
| >2 years 1 day - 3 years | 6.00% | 6.50% |
| >3 years 1day - 5 years | 6.25% | 6.75% |
| >5 years 1 day - 10 years | 6.00% | 6.50% |
Axis Bank
In the latest development, the Bank has modified its FD interest rate. The new FD interest rates will be applicable from today. The interest rate offered by Axis Bank on investments of under Rs 2 crore for 5 to 10 years of tenure is 5.75%. However, the offering rises to 6.5% for senior citizen customers.
Fixed Deposit Under 2 Crore Deposit w.e.f. 05 March 2022
| Tenure | Regular Interest Rate(p.a%) | Senior Citizen (p.a%) |
|---|---|---|
| 1 year < 1 year 5 days | 5.10% | 5.75% |
| 1 year 5 days < 1 year 11days | 5.15% | 5.80% |
| 1 year 11days < 1 year 25days | 5.25% | 5.90% |
| 1 year 25 days < 15 months | 5.15 | 5.80% |
| 15 months < 18 months | 5.20% | 5.85% |
| 18 months < 2 years | 5.25% | 5.90% |
| 2 years < 5 Years | 5.40% | 6.05% |
| 5 years to 10 years | 5.75% | 6.50% |
RBL Bank
The RBL bank provides a 5.75 percent interest rate on all assets with a minimum five-year lock-in term. For senior citizen clients, the rate of interest offered to them is higher than the regular FD interest rate, an additional 0.5 percent interest rate.
Fixed Deposit Under 3 Crore Deposit w.e.f. 03 February 2022
| Tenure | Regular Interest Rate(p.a%) | Senior Citizen (p.a%) |
|---|---|---|
| 12 months to less than 24 months | 6.25% | 6.75% |
| 24 months to less than 36 months | 6.50% | 7.00% |
| 36 months to less than 60 months | 6.30% | 6.80% |
| 60 months to 60 months 1 day | 6.30% | 6.80% |
| 60 months 2 days to less than 120 months | 5.75% | 6.25% |
| 120 months to 240 months | 5.75% | 6.25% |
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