120503This is how low salary people should avail credit card benefits!
IndusInd Bank will give 7.85 per cent RoI on fixed deposits of 1 year 6 months to below 1 year 7 months.
IndusInd Bank has increased fixed deposit interest rates on fixed deposits. If account holders open FD with the private sector bank, then, they can get as high as 7.85 per cent RoI. But for this, they will have to open the FD for 1 year 6 months to below 1 year 7 months. Senior citizens too will get 0.40 per cent additional rate on this FD. They will get 8.25 per cent RoI on this deposit.
But is 7.85 per cent currently the highest interest rate that one can get by opening an FD with any of the private banks in the country?
No!
Currently, DCB Bank is giving the highest interest rate on fixed deposits to both general and senior citizens. Barring Small Finance Banks, no other private bank is giving as much interest rate on fixed deposits as DCB Bank is giving. If account holders open FD with DCB Bank, then, they can get as high as 7.90 per cent RoI. But for this, they will have to open the FD for 25 months. Senior citizens too will get 0.60 per cent additional rate on this FD. They will get 8.50 per cent RoI on this deposit.
Private banks with highest interest rates on fixed deposits:
| Bank | RoI (in %) General Citizens | RoI (in %) Senior Citizens | Tenure |
| DCB Bank | 7.90 | 8.50 | 25 months |
| IndusInd Bank | 7.85 | 8.25 | 1 year 6 months to below 1 year 7 months |
| RBL Bank | 7.80 | 8.30 | 15 months to less than 2 years |
| Yes Bank | 7.75 | 8.25 | 18 months to 24 months |
| IDFC First Bank | 7.50 | 8.00 | 1 year 1 day to 550 days |
| Federal Bank | 7.30 | 8.07 | 13 months to 21 months |
| Dhanlaxmi Bank | 7.25 | 7.75 | 18 months and 7 days |
| HDFC Bank | 7.20 | 7.70 | 4 year 7 months |
| Kotak Mahindra Bank | 7.20 | 7.70 | 390 days |
| South Indian Bank | 7.20 | 7.20 | 500 days |
| Karur Vysya Bank | 7.20 | 7.70 | 444 days |
| ICICI Bank | 7.10 | 7.60 | 15 months to 18 months |
| Axis Bank | 7.10 | 7.60 | 13-14 months |
| City Union Bank | 7.00 | 7.50 | 400 days |
| IDBI Bank | 6.80 | 7.30 | 1 year to 2 years |
We have taken into consideration only private banks and not small finance banks.
RBL Bank is giving the third highest interest rate on fixed deposits as compared to other banks. RBL Bank is giving as high as 7.80 per cent RoI on FDs of 15 months to less than 2 years. Elderly will get 8.30 per cent interest rate on this FD.
IDFC First Bank is also giving RoI of 7.50 per cent on FDs of 1 year 1 day to 550 days. Senior citizens will get 8 per cent on this FD.
Federal Bank on the other hand is giving interest rate of as high as 7.30 per cent on FDs of 13 months to 21 months. Federal Bank is giving 0.77 per cent additional rate to senior citizens. Elderly will get 8.07 per cent interest on this FD.
With Dhanlaxmi Bank, depositors can get as high as 7.25 per cent rate. But for this, they will have to open the FD for 18 months and seven days.
Kotak Mahindra Bank is giving highest of 7.25 per cent interest rate on fixed deposits. But to get this interest rate, account holders will have to open the FD of 23 months. Senior citizens will get 7.75 per cent interest rate on this FD.
Next in line is HDFC Bank with 7.20 per cent interest rates. Account holders will now be able to earn highest interest rate of 7.20 per cent on fixed deposits with the private lender. They will have to open an FD of 4 Year 7 Months or 55 months to get 7.20 per cent RoI. Senior citizens will get 7.70 per cent interest on this FD.
If account holders open FD with South Indian Bank, then also, they can get as high as 7.20 per cent RoI. But for this, they will have to open the FD for 500 days. But senior citizens will get similar rate on this FD. The elderly will not get any additional rate on this FD.
Even with Karur Vyasa Bank, depositors can get as high as 7.20 per cent RoI. But for this, they will have to open FD of 444 days.
ICICI Bank is also giving as high as 7.10 per cent but on FDs of 15 months to 18 months.
With FDs of 400 days with City Union Bank, account holders can get highest of 7 per cent interest rate.
On the other hand, account holders will get highest of 6.80 per cent on fixed deposits opened with IDBI Bank. They will get this much rate of interest on FDs of 1 year to 2 years. Senior citizens will get 0.50 per cent additional rate.