Last week I shared some thoughts on investing after retirement, and in continuing with the theme of retirement, this week I’m going to share some of the best fixed deposit interest rates that banks have to offer right now.
In looking through these rates, I think there is no reason for anyone to accept less than 10% since so many banks offer that and you can open two or more deposits with varying maturities so that you can take advantage of the best rates that banks offer across durations.
I think this list constitutes some of the best fixed deposit rates that are currently being offered by Indian banks. If you know of any banks outside this list then please leave a comment, and I’ll update the post with your suggestion.
These are the rates in descending order.
| S.No. | Bank | Tenure | Senior Citizen Interest Rate |
|---|---|---|---|
| 1 | Yes Bank | 15 months | 10.60% |
| 2 | South Indian Bank | 39 months | 10.50% |
| 3 | Federal Bank | 1000 days | 10.50% |
| 4 | Dhanalaxmi Bank | 500 days | 10.25% |
| 5 | Lakshmi Vilas Bank | 2 year to less than 3 years | 10.25% |
| 6 | City Union Bank | 1 year | 10.25% |
| 7 | Karnataka Bank | 1 year to 2 years | 10.25% |
| 8 | Indian Bank | 1 year to less than 3 years | 10.25% |
| 9 | Dena Bank | 3 years to less than 5 years | 10.05% |
| 10 | Karur Vysya Bank | 1 year to 2 years | 10.00% |
| 11 | Tamil Nadu Mercantile Bank | 1 year to less than 2 years | 10.00% |
| 12 | Vijaya Bank | 400 days | 10.00% |
| 13 | IDBI Bank | 1 year to 5 years | 10.00% |
| 14 | Axis Bank | 1 year to less than 5 years | 10.00% |
| 15 | Indian Overseas Bank | 1Â – 5 years | 10.00% |
| 16 | ICICI Bank | 390 days to 5 years | 10.00% |
| 17 | Kotak Bank | 390 Days | 9.90% |
| 18 | Andhra Bank | 3 years | 9.90% |
| 19 | Bank of India | 555 days | 9.85% |
| 20 | Syndicate Bank | 1 year | 9.80% |
| 21 | Punjab and Sind Bank | 500 days | 9.75% |
| 22 | Corporation Bank | 12 months | 9.75% |
| 23 | State Bank of Patiala | 555 days | 9.50% |
| 24 | J&K Bank | 2 years or more | 9.50% |
| 25 | Allahabad Bank | 1 year to less than 2 years | 9.50% |
| 26 | State Bank of Travancore | 1 year to 3 years | 9.50% |
| 27 | Canara Bank | 1 year and above | 9.50% |
| 28 | Central Bank of India | 555 days | 9.10% |
| 29 | Bank of Baroda | 444 days | 8.85% |
