Fixed deposit (FD) is a financial tool that helps you build on your savings over a period of time. In a fixed deposit, investors put in a lump sum amount in the account and earn a certain percentage of interest on the same over a period of time. It is a very safe type of investment as the risk factor is considerably less. The interest rate offered on the term deposit schemes depend on various factors such as the amount deposited, tenure of the scheme and the bank offering the scheme.
Top Bank 1-year FD rates in 2018
There are many top banks in India that have a good reputation and a good track record when it comes to payment of interest. Some of these banks include Citibank, ICICI Bank, SBI, Yes Bank, among others. These types of banks are a good option for short-term deposits.
| Best bank FD schemes for 1 year | ||
|---|---|---|
| Bank | Regular FD Rate(per annum) | Senior Citizen FD Rates (per annum) |
| Deutsche Bank | 6.90% | 6.90% |
| Standard Chartered Bank | 6.90% | 7.40% |
| HDFC | 6.75% | 7.25% |
| Axis Bank | 6.75% | 6.85% |
| ICICI Bank | 6.60% | 7.10% |
| Yes Bank | 6.60% | 7.10% |
| Canara Bank | 6.50% | 7.00% |
| SBI | 6.25% | 6.75% |
| Citibank | 5.00% | 5.50% |
*Interest rates are subject to revision and will be updated from time to time
Key highlights
- A high rate of return of 6.90% p.a is paid on both regular and senior citizen FDs offered by Deutsche Bank
- The top banks in the industry provide the best security and are also extremely reliable schemes
- Axis Bank pays interest at the rate of 6.75% p.a. on all deposits held for 365 days
- For senior citizens, the deposit rate applicable is 6.85% p.a.
- ICICI Bank FDs come with a premature withdrawal facility and pays at the rate of 6.60% p.a.
- Senior citizens going for ICICI Bank term deposits can expect around 7.10% p.a. for a tenure of 1 year
- SBI pays 6.25% p.a. for all those who go for regular deposits and 6.75% p.a. for those who are above 60 years
Best Company FD rates 2018 for 1 year
| Company FD schemes for 1 year | ||
|---|---|---|
| Company | Regular FD Rate(per annum) | Senior Citizen FD Rates (per annum) |
| Hudco | 9.15% | 9.40% |
| KTDFC | 8.25% | 8.50% |
| DHFL | 7.70% | 7.95% |
| LIC Housing Finance | 7.30% | 7.55% |
| ICICI Home Finance | 7.20% | 7.45% |
*Interest rates are subject to revision and will be updated from time to time
Key highlights
- There are a range of company FD schemes that are well-rated and also offer attractive interest rates
- Hudco is a good rated scheme that has received a CARE – AAA and a FITCH -IND rating
- Hudco pays a high interest rate of 9.15% p.a. on regular schemes and 9.40% p.a. on senior citizen FD rates
- The second-highest paying company FD scheme is offered by KTDFC, where the rate of gain is 8.25% p.a.
- ICICI Home Finance and LIC Housing Finance also offers competitive interest rates for a tenure of 1 year