Latest News
-
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids -
Wipro Reports 7.8% Decline in Q4 Net Profit; CEO Highlights Economic Challenges -
IREDA Hits Record Annual PAT of Rs 1,252 Cr in FY24; Q4 Profits Up by 33% -
Massive Employee Exodus Hits India's Top IT Companies in FY23-24 -
Air India Enhances Operational Efficiency with New Crew Management System -
BlackRock Acquires Shares in Electrosteel Castings and PTC India for Rs 207 Crore -
IndiGo Enhances Domestic Routes with Direct Chennai-Durgapur Flights -
Tesla to Recall Nearly 4,000 Cybertrucks Over Accelerator Pedal Fault -
Reliance, ONGC, Tata, Adanis: Energy Stocks Didn't Get The Memo Of Bears, Up 12% In 30-Days; 10 Stocks To BUY -
Sebi to Enhance Price Discovery for Firms Trading Below Book Value
This Bank's FD Interest Rates Are The Best
Among all the commercial banks, the fixed deposit (FD) interest rates IDFC First Bank are the best. The Bank is not a small savings bank and is a full fledged commercial bank. The interest rates are the best from among commercial banks in the country. Take a look.
A 2-year deposit fetches an interest rate of 8.50 per cent, while senior citizens can receive an interest rate of 9 per cent. Take a look at the interest rates on the various other tenures. Do also remember that the interest rates are subject to a tax deduction at source if the interest amount crosses a sum of Rs 10,000 every year.
Minimum tenure for NRE Deposits is 365 days and NRO/ Domestic Deposits is 7 days. No interest is payable where deposit has not been in place for applicable minimum tenure.
Interest Rates on Deposits & Advances
Card Rates for Domestic, NRE & NRO Deposits less than INR 2 Crores*
| Period | Rate of Interest (%p.a.) w.e.f July 1, 2019 Less than INR 2 Crores |
|---|---|
| 7 - 14 days | 4.00% |
| 15 - 29 days | 5.00% |
| 30 - 45 days | 6.25% |
| 46 - 90 days | 6.50% |
| 91 - 180 days | 6.75% |
| 181 days - 1 year | 7.00% |
| 1 year 1 day - less than 2 years | 7.75% |
| 2 years | 8.50% |
| 2 years 1 day - 5 years | 7.50% |
| 5 year 1 day - 10 years | 7.25% |
| Tax Saver Deposit (Only for Domestic Deposits) | Rate of Interest (%p.a.) w.e.f July 1, 2019 Less than INR 2 Crores |
|---|---|
| 5 Years | 7.75% |
Most of the commercial banks in the country are offering an interest rate of around 7 to 7.5 per cent. Against this backdrop, the interest rate offered by IDFC Bank is not bad at all. For investors with a 2-year time frame in mind, this deposit is a good bet.
Check FD interest rates of all banks here
