Jun 1
0
Best 5-Year Fixed Deposits in India (2018)
Given below is an updated table of top banks in India that offer 5-year FDs:
| Top Bank 5-year FDs in 2018 | ||
|---|---|---|
| Tenure | Regular FD Interest Rates (per annum) | Senior Citizen FD Interest Rates (per annum) |
| SBI | 6.00% | 6.50% |
| ICICI | 6.50% | 7.00% |
| Axis Bank | 6.90% | 7.40% |
| Yes Bank | 6.75% | 7.25% |
| Citibank | 5.00% | 5.50% |
| HDFC Bank | 6.00% | 6.50% |
| IDFC Bank | 7.20% | 7.70% |
| IndusInd Bank | 6.50% | 7.00% |
*Deposit rates are dynamic and can be updated by banks without prior notice from time to time
Key highlights on 5-year FD rates
- Some of the best banks that offer term deposits in this slab include SBI, ICICI , Citibank, Axis Bank, Yes Bank, among others
- The interest rates paid vary anywhere between 6.00% p.a. to 7.20% p.a. when it comes to regular deposits
- As far as senior citizen deposits are concerned, the rate paid ranges from 6.50% p.a. to 7.40% p.a.
- Customers will have the option either to go for tax-saver FDs or normal deposits in this tenure range
SBI
- SBI pays an interest rate of 6.00% p.a. for an investment period of 5 years for all regular term deposit holders
- When it comes to senior citizens, the rate of interest paid by the bank is 0.50% higher per annum
- For 5-year deposits, those who are 60 years and above can expect a bank rate of 7.00% p.a. from SBI
- The same bank rate is paid for both tax saver and non tax saver deposits
ICICI Bank
- ICICI Bank pays interest at an attractive rate of 6.50% p.a. for this type of tenure range
- For senior citizens, the rate applicable is 7.00% p.a.
- These rates are paid for those deposits that are less than Rs.1 crore and come with premature withdrawal option
- The interest rate for the ICICI 5-year tax saver deposit and regular 5-year term deposit is the same
Axis Bank
- Axis Bank is one among the other popular and well-reputed banks in India that offers an interest rate of 6.90% p.a. for 5 year FDs
- In case of senior citizens, an investment period of 5 years will fetch a bank rate of 7.40% p.a.
- All those who fall under the 60 years and above age bracket will get an additional rate of interest
- The maximum amount of money that can be claimed for tax deduction for tax saver FDs that come under this tenure range is Rs.1.5 lakh
Yes Bank
- The annual percentage gain from Yes Bank deposits is 6.75% p.a.
- Senior citizens will get paid at the rate of 7.25% p.a. by Yes Bank
- Please note that investors can opt for both 5 year regular FDs and tax saver FDs. The interest rate for both are the same
- Interest will be paid quarterly or monthly
Citibank
- An FD rate of 5.00% p.a. can be earned from Citibank term deposits for investing for a time period of 5 years
- For senior citizens, the interest rate paid by Citibank will be 5.50% p.a.
- The bank rates are applicable for an investment amount of less than Rs.1 crore
- The bank offers tax savings term deposit schemes
HDFC Bank
- The yearly percentage gain from HDFC Bank fixed deposits will be 6.00% p.a.
- For senior citizens, the rate paid will be 6.50% p.a.
- The bank offers a number of facilities such as joint accounts, nomination, loan/overdraft among others
- Investors can choose the type of FD they want to invest in
IDFC Bank
- IDFC Bank pays an attractive interest rate of 7.20% p.a.
- For those who fall in the senior citizen slab, the gain percentage for 5 years will be 7.70% p.a.
- Customers can choose to put their money in the regular FD scheme or tax saver time deposit
- Yearly rate of return on tax saver and regular term deposit is the same
IndusInd Bank
- IndusInd Bank pays interest at the rate of 6.50% p.a.
- For senior citizens, the rate applicable is 7.00% p.a.
- Customers can choose a wide number of benefits
- Loan/overdraft facility can be taken
