A Bank branch in India
BANK FIXED DEPOSIT INTEREST RATES IN INDIA
COMPARITIVE BANK INTEREST RATES
PLAN N PROGRESS compares interest rates of various banks .
1. We have selected periods of 1 year and 5 years for comparison of interest rates offered by Indian commercial banks including Public Sector banks , Private Sector Banks and Foreign banks with a network of branches and also Small Finance banks , new breed of banks in India . Below tables give information on interest rates offered by various banks .
2 . The interest rates are on retail term deposits for public and senior citizens .
3. Normally interest rates quoted are valid for an amount of less than Rs 2 crore .
4. For actual terms and conditions and the latest rates , you may visit the websites of the banks listed at the end alphabetically .
5. The rates taken by us are updated on or about 15th May , 2019 and are subject to change .
FOR ONE YEAR DEPOSITS
6. The public sector banks are offering interest rates between 6.5 % to 7 % 1 year deposits for public and 0.5 % more for senior citizens . Among the private sector banks , RBL Bank pays highest rate of 8.00 % for 1 year deposits for public and 8.50 % for senior citizens . Among Foreign Banks , Standard Chartered Bank pays highest rate of 7.4 % for 1 year for public and senior citizens . The highest yield on Bank Deposits come generally from small finance banks . ESAF Small finance Bank pays 8.75 % for 1 year public deposits and 9.25 % for senior citizens
FOR 5 YEAR DEPOSITS
7 . Mostly banks pay less for 5 year term deposits compared to 1 year deposits . Public sector banks pay between 6.0 % to 6 90 % for 5 year term deposits ( 6.5 % to 7.40 % for senior citizens ) while private sector banks pay 6.5 % to 7.75 % to public ( 7.00 % to 8.35 % for senior citizens ) . Small finance banks pay between 7.00 % to 8.5 % for public and 7.5 % to 9.10 % for senior citizens .
8. There are NBFC companies , co-operative societies and corporates who pay higher interest rates , but have higher risk weaightages .
9 . DICGC covers maximum of Rs 1.00 lakhs on Bank Deposits as insurance .
2 . The interest rates are on retail term deposits for public and senior citizens .
3. Normally interest rates quoted are valid for an amount of less than Rs 2 crore .
4. For actual terms and conditions and the latest rates , you may visit the websites of the banks listed at the end alphabetically .
5. The rates taken by us are updated on or about 15th May , 2019 and are subject to change .
FOR ONE YEAR DEPOSITS
6. The public sector banks are offering interest rates between 6.5 % to 7 % 1 year deposits for public and 0.5 % more for senior citizens . Among the private sector banks , RBL Bank pays highest rate of 8.00 % for 1 year deposits for public and 8.50 % for senior citizens . Among Foreign Banks , Standard Chartered Bank pays highest rate of 7.4 % for 1 year for public and senior citizens . The highest yield on Bank Deposits come generally from small finance banks . ESAF Small finance Bank pays 8.75 % for 1 year public deposits and 9.25 % for senior citizens
FOR 5 YEAR DEPOSITS
7 . Mostly banks pay less for 5 year term deposits compared to 1 year deposits . Public sector banks pay between 6.0 % to 6 90 % for 5 year term deposits ( 6.5 % to 7.40 % for senior citizens ) while private sector banks pay 6.5 % to 7.75 % to public ( 7.00 % to 8.35 % for senior citizens ) . Small finance banks pay between 7.00 % to 8.5 % for public and 7.5 % to 9.10 % for senior citizens .
8. There are NBFC companies , co-operative societies and corporates who pay higher interest rates , but have higher risk weaightages .
9 . DICGC covers maximum of Rs 1.00 lakhs on Bank Deposits as insurance .
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PUBLIC SECTOR BANKS
BANK NAME |
INTEREST FOR 1 YEAR PUBLIC |
INTEREST FOR 1 YEAR SENIOR CITIZENS |
INTEREST FOR 5 YEAR PUBLIC |
INTEREST FOR 5 YEAR SENIOR CITIZENS |
ALLAHABAD BANK |
6.75 |
6.75 |
6.5 |
6.5 |
ANDHRA BANK |
6.8 |
7.3 |
6.75 |
7.25 |
BANK OF BARODA |
6.70 |
7.2 |
6.7 |
7.2 |
BANK OF INDIA |
6.70 |
7.20 |
6.5 |
7.00 |
BANK OF MAHARASHTRA |
6.50 |
7.00 |
6.25 |
6.75 |
CORPORATION BANK |
6.80 |
7.3 |
6.5 |
7.00 |
CANARA BANK |
6.75 |
7.25 |
6.0 |
6.5 |
IDBI BANK ( Now a Private Bank ) |
7.25 |
7.75 |
6.85 |
7.35 |
INDIAN BANK |
6.75 |
7.25 |
6.90 |
7.4 |
INDIAN OVERSEAS BANK |
6.60 |
7.30 |
6.80 |
7.30 |
ORIENTAL BANK OF COMMERCE |
7.00 |
7.50 |
6.75 |
7.25 |
PUNJAB & SIND BANK |
7.00 |
7.50 |
6.55 |
7.05 |
PUNJAB NATIONAL BANK |
7.00 |
7.50 |
6.25 |
6.75 |
STATE BANK OF INDIA |
6.80 |
7.30 |
6.85 |
7.35 |
SYNDICATE BANK |
6.70 |
7.10 |
6.50 |
7.00 |
UCO BANK |
6.60 |
6.85 |
6.50 |
7.00 |
UNION BANK OF INDIA |
6.75 |
7.25 |
6.70 |
7.20 |
UNITED BANK OF INDIA |
6.50 |
7.00 |
6.00 |
6.50 |
CENTRAL BANK OF INDIA |
6.65 |
6.65 |
6.55 |
6.55 |
INDIAN PRIVATE BANKS
BANK NAME |
INTEREST FOR 1 YEAR PUBLIC |
INTEREST FOR 1 YEAR SENIOR CITIZENS |
INTEREST FOR 5 YEAR PUBLIC |
INTEREST FOR 5 YEAR SENIOR CITIZENS |
AXIS BANK |
7.30 |
7.95 |
7.00 |
7.50 |
ICICI BANK |
6.90 |
7.40 |
7.25 |
7.75 |
HDFC BANK |
7.30 |
7.80 |
7.25 |
7.75 |
KARNATAKA BANK |
7.30 |
7.80 |
7.00 |
7.50 |
KARUR VYSYA BANK |
7.25 |
7.75 |
7.00 |
7.50 |
KOTAK MAHINDRA BANK |
7.20 |
7.70 |
6.50 |
7.00 |
TAMILNADU MERCANTILE BANK |
7.25 |
7.75 |
6.90 |
7.40 |
DHANALAKSHMI BANK |
7.00 |
7.50 |
6.50 |
7.00 |
FEDERAL BANK |
7.30 |
7.80 |
7.25 |
7.75 |
J & K BANK |
7.30 |
7.80 |
6.50 |
7.00 |
CATHOLIC SYRIAN BANK |
7.00 |
7.00 |
6.50 |
6.50 |
INDUSIND BANK |
7.60 |
8.10 |
7.35 |
7.85 |
SOUTH INDIAN BANK |
7.40 |
7.90 |
7.25 |
7.75 |
RBL BANK |
8.00 |
8.50 |
7.60 |
8.10 |
LAKSHMI VILAS BANK |
7.75 |
8.35 |
7.85 |
8.45 |
YES BANK |
7.25 |
7.75 |
7.25 |
7.75 |
TAX PLANNING FOR FY 2018-19 ( AY 2019-20 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
CLICK HERE TO READ
Income Tax Returns are to be filed by 31st , July 2019 for the Financial year 2018-19
For Forms , instructions and other details . CLICK HERE
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
CLICK HERE TO READ
Income Tax Returns are to be filed by 31st , July 2019 for the Financial year 2018-19
For Forms , instructions and other details . CLICK HERE
HEALTH INSURANCE PLANS FOR SENIOR CITIZENS WITH OR WITHOUT AGE RESTRICTIONS
TO READ THE ARTICLE CLICK HERE
TO READ THE ARTICLE CLICK HERE
FOREIGN BANKS
BANK NAME |
INTEREST FOR 1 YEAR PUBLIC |
INTEREST FOR 1 YEAR SENIOR CITIZENS |
INTEREST FOR 5 YEAR PUBLIC |
INTEREST FOR 5 YEAR SENIOR CITIZENS |
CITI BANK |
|
6.00 |
6.00 |
6.50 |
HSBC BANK |
5.00 |
5.50 |
NA |
NA |
STANDARD CHARTERED BANK |
7.40 |
7.40 |
6.50 |
6.50 |
SMALL FINANCE BANKS
BANK NAME |
|
INTEREST FOR 1 YEAR SENIOR CITIZENS |
INTEREST FOR 5 YEAR PUBLIC |
INTEREST FOR 5 YEAR SENIOR CITIZENS |
CAPITAL SF BANK |
7.65 |
8.15 |
7.50 |
8.00 |
SURYODAY SF BANK |
8.50 |
9.00 |
8.25 |
8.75 |
UJJIVAN SF BANK |
8.30 |
8.80 |
7.00 |
7.50 |
UTKARSH SF BANK |
8.50 |
9.00 |
8.00 |
8.50 |
EQUITAS SF BANK |
8.20 |
8.95 |
7.00 |
7.75 |
ESAF SF BANK |
8.75 |
9.25 |
7.30 |
7.80 |
JANA SF BANK |
8.50 |
9.10 |
8.50 |
9.10 |
If you have earned from stock market or from sale of properties to know tax liability Read the NEW ARTICLE ON
CAPITAL GAIN AND TAX
CLICK HERE TO READ
CAPITAL GAIN AND TAX
CLICK HERE TO READ
To know the latest interest rates offered by individual banks for various maturities , click on the name of the bank to reach their websites . ( Banks listed alphabetically )
01.ALLAHABAD BANK
02.ANDHRA BANK
03.AXIS BANK
04.BANK OF BARODA
05.BANK OF INDIA
06.BANK OF MAHARASHTRA
07.CANARA BANK
08.CENTRAL BANK OF INDIA
09.CITIBANK N.A.
10.CORPORATION BANK
11.CATHOLIC SYRIAN BANK LTD.
12.INDUSIND BANK LIMITED
13.ICICI BANK
14.IDBI BANK LIMITED
15.INDIAN BANK
16.INDIAN OVERSEAS BANK
17.KOTAK MAHINDRA BANK LIMITED
18.KARNATAKA BANK
19.KARUR VYSYA BANK LIMITED.
20.ORIENTAL BANK OF COMMERCE
21.PUNJAB & SIND BANK
22.PUNJAB NATIONAL BANK
23.STANDARD CHARTERED BANK
24.STATE BANK OF INDIA
25.SYNDICATE BANK
26.THE HONGKONG & SHANGHAI BANKING CORPORATION LTD.
27.TAMILNAD MERCANTILE BANK LTD.
28.THE DHANALAKSHMI BANK LIMITED.
29.THE FEDERAL BANK LTD.
30.THE HDFC BANK LTD.
31.THE J & K BANK LTD.
32.THE SOUTH INDIAN BANK LTD.
33. RBL BANK LTD ( THE RATNAKAR BANK LTD.)
34.THE LAKSHMI VILAS BANK LTD
35.UCO BANK
36.UNION BANK OF INDIA
37.UNITED BANK OF INDIA
38.VIJAYA BANK
39.YES BANK
SMALL FINANCE BANKS
1. CAPITAL SMALL FINANCE BANK
2. SURYODAY SMALL FINANCE BANK
3. UJJIVAN SMALL FINANCE BANK
4. UTKARSH SMALL FINANCE BANK
5. EQUITAS SMALL FINANCE BANK
6 . ESAF SMALL FINANCE BANK
7. JANA SMALL FINANCE BANK
01.ALLAHABAD BANK
02.ANDHRA BANK
03.AXIS BANK
04.BANK OF BARODA
05.BANK OF INDIA
06.BANK OF MAHARASHTRA
07.CANARA BANK
08.CENTRAL BANK OF INDIA
09.CITIBANK N.A.
10.CORPORATION BANK
11.CATHOLIC SYRIAN BANK LTD.
12.INDUSIND BANK LIMITED
13.ICICI BANK
14.IDBI BANK LIMITED
15.INDIAN BANK
16.INDIAN OVERSEAS BANK
17.KOTAK MAHINDRA BANK LIMITED
18.KARNATAKA BANK
19.KARUR VYSYA BANK LIMITED.
20.ORIENTAL BANK OF COMMERCE
21.PUNJAB & SIND BANK
22.PUNJAB NATIONAL BANK
23.STANDARD CHARTERED BANK
24.STATE BANK OF INDIA
25.SYNDICATE BANK
26.THE HONGKONG & SHANGHAI BANKING CORPORATION LTD.
27.TAMILNAD MERCANTILE BANK LTD.
28.THE DHANALAKSHMI BANK LIMITED.
29.THE FEDERAL BANK LTD.
30.THE HDFC BANK LTD.
31.THE J & K BANK LTD.
32.THE SOUTH INDIAN BANK LTD.
33. RBL BANK LTD ( THE RATNAKAR BANK LTD.)
34.THE LAKSHMI VILAS BANK LTD
35.UCO BANK
36.UNION BANK OF INDIA
37.UNITED BANK OF INDIA
38.VIJAYA BANK
39.YES BANK
SMALL FINANCE BANKS
1. CAPITAL SMALL FINANCE BANK
2. SURYODAY SMALL FINANCE BANK
3. UJJIVAN SMALL FINANCE BANK
4. UTKARSH SMALL FINANCE BANK
5. EQUITAS SMALL FINANCE BANK
6 . ESAF SMALL FINANCE BANK
7. JANA SMALL FINANCE BANK
WHAT IS NEW ON PLAN N PROGRESS ?
14.05.2019 : 'RETAIL INFLATION FURTHER INCREASES TO 2.92 % IN APRIL 2019 : STATISTICAL MINISTRY
13.05.2019 : INDUSTRIAL PRODUCTION TURNS NEGATIVE IN MARCH 2019 : STATISTICAL MINISTRY
13.05.2019 : SALARY CERTIFICATE FORM 16 REVISED
10.05.2019 : SBI FURTHER CUTS MCLR BY 0.05 %
10.05.2019 : INCOME TAX RETURNS FOR FY 2018-19 .
10.04.2019 : SBI REDUCES MCLR BY 0.05 %
6.04.2019 :NEW IT RETURN FORMS RELEASED FOR FY 2018-19 ( AY 19-20 )
05.04.2019 : IT IS TIME TO SUBMIT FORM 15G / 15H FOR FY 2019-20
04.04.2019 : REPO RATE REDUCED BY 0.25 %
03.04.2019 : ICICI BANK REDUCES MCLR BY 0.05 %
01.04.2019 : LINKING OF AADHAAR TO PAN NUMBER : DEADLINE EXTENDED UP TO 30.09.2019
31.03.2019 : BRANCHES OF VIJAYA BANK AND DENA BANK TO OPERATE AS BOB BRANCH FROM TOMORROW
30.03.2019 : SMALL SAVINGS TERM INTEREST RATES REMAIN UNCHANGED FOR THE NEXT QUARTER
27.03.2019 : BANKS TO REMAIN OPEN ON 31.03.2019 - SUNDAY
26.03.2019 : SEBI TAKES ACTION AGAINST UNREGISTERED ADVISORY WEBSITES
23.03.2019 : FITCH CUTS INDIAN GROWTH FORECAST
18.03.2019 : CARDLESS CASH WITHDRAWAL ENABLED FROM SBI ATMS
15.03.2019 : IDBI BANK IS NOW A PRIVATE SECTOR BANK
14.03.2019 : SALARY / PENSION DELAYS AND CONTINGENCY PLANNING
13.03.2019 : RETAIL INFLATION RAISES IN FEB 2019 WHILE INDUSTRIAL PRODUCTION SHOWS NOMINAL GROWTH IN JAN 19
12.03.2019 : LAST DATE FOR PAYING ADVANCE TAX IS 15.03.2019
11.03.2019 : RBI PENALIZES 36 BANKS ON NON-COMPLIANCE OF DIRECTIONS ON THEIR SWIFT OPERATIONS
10.03.2019 : SBI LINKS ITS SB INTEREST RATE ABOVE RS 1 LAKH TO REPO : FIRST BY AN INDIAN BANKER
08.03.2019 : GOVERNMENT TO ISSUE NEW COINS OF RS 20 AND NEW SERIES OF OTHER DENOMINATIONS
6.03.2019 : RUPAY CONTACTLESS CARD : ONE NATION ONE CARD
03.03.2019 : NEW ARTICLE : CAPITAL GAIN AND TAXES
8.02.2019 : GDP GROWTH SLIPS TO 6.6 % IN Q3 OF THE YEAR 2018-19 : STATISTICAL MINISTRY
27.02.2019 : ALLAHABAD BANK , CORPORATION BANK AND DHANALAXMI BANK COME OUT OF PCA FRAMEWORK
25.02.2019 : UNREGULATED DEPOSITS BANNED BY GOVT ORDINANCE
21.02.2019 ; LATEST BANK DEPOSIT INTEREST RATES - A COMPARISON
17.02.2019 : RBI WARNS OF NEW DIGITAL FRAUD : NEWS MEDIA
13.02.2019 : INDUSTRIAL PRODUCTION SHOWS IMPROVED GROWTH OF 2.4 % DURING DECEMBER 2018
13.02.2019 : RETAIL INFLATION FALLS TO 19 MONTH LOW IN JANUARY 2019 : STATISTICAL MINISTRY
08.02.2019 : LINKING AADHAAR MANDATORY TO FILE IT RETURN FOR FY 2018-19 : SUPREME COURT
04.02.2019 : ACTUAL EFFECT ON INCOME TAX PAYABLE DUE TO BUDGET 2019-20
01.02.2019 : GDP GROWTH REVISED TO 8.2 % IN 2016-17 AND 7.2 % IN 2017-18 : STATISTICAL MINISTRY
01.02.2019 : BANK OF INDIA , BANK OF MAHARASHTRA AND OBC COME OUT OF PCA FRAMEWORK : RESERVE BANK OF INDIA
01.02.2019 BUDGET PROPOSALS 2019-20
14.05.2019 : 'RETAIL INFLATION FURTHER INCREASES TO 2.92 % IN APRIL 2019 : STATISTICAL MINISTRY
13.05.2019 : INDUSTRIAL PRODUCTION TURNS NEGATIVE IN MARCH 2019 : STATISTICAL MINISTRY
13.05.2019 : SALARY CERTIFICATE FORM 16 REVISED
10.05.2019 : SBI FURTHER CUTS MCLR BY 0.05 %
10.05.2019 : INCOME TAX RETURNS FOR FY 2018-19 .
10.04.2019 : SBI REDUCES MCLR BY 0.05 %
6.04.2019 :NEW IT RETURN FORMS RELEASED FOR FY 2018-19 ( AY 19-20 )
05.04.2019 : IT IS TIME TO SUBMIT FORM 15G / 15H FOR FY 2019-20
04.04.2019 : REPO RATE REDUCED BY 0.25 %
03.04.2019 : ICICI BANK REDUCES MCLR BY 0.05 %
01.04.2019 : LINKING OF AADHAAR TO PAN NUMBER : DEADLINE EXTENDED UP TO 30.09.2019
31.03.2019 : BRANCHES OF VIJAYA BANK AND DENA BANK TO OPERATE AS BOB BRANCH FROM TOMORROW
30.03.2019 : SMALL SAVINGS TERM INTEREST RATES REMAIN UNCHANGED FOR THE NEXT QUARTER
27.03.2019 : BANKS TO REMAIN OPEN ON 31.03.2019 - SUNDAY
26.03.2019 : SEBI TAKES ACTION AGAINST UNREGISTERED ADVISORY WEBSITES
23.03.2019 : FITCH CUTS INDIAN GROWTH FORECAST
18.03.2019 : CARDLESS CASH WITHDRAWAL ENABLED FROM SBI ATMS
15.03.2019 : IDBI BANK IS NOW A PRIVATE SECTOR BANK
14.03.2019 : SALARY / PENSION DELAYS AND CONTINGENCY PLANNING
13.03.2019 : RETAIL INFLATION RAISES IN FEB 2019 WHILE INDUSTRIAL PRODUCTION SHOWS NOMINAL GROWTH IN JAN 19
12.03.2019 : LAST DATE FOR PAYING ADVANCE TAX IS 15.03.2019
11.03.2019 : RBI PENALIZES 36 BANKS ON NON-COMPLIANCE OF DIRECTIONS ON THEIR SWIFT OPERATIONS
10.03.2019 : SBI LINKS ITS SB INTEREST RATE ABOVE RS 1 LAKH TO REPO : FIRST BY AN INDIAN BANKER
08.03.2019 : GOVERNMENT TO ISSUE NEW COINS OF RS 20 AND NEW SERIES OF OTHER DENOMINATIONS
6.03.2019 : RUPAY CONTACTLESS CARD : ONE NATION ONE CARD
03.03.2019 : NEW ARTICLE : CAPITAL GAIN AND TAXES
8.02.2019 : GDP GROWTH SLIPS TO 6.6 % IN Q3 OF THE YEAR 2018-19 : STATISTICAL MINISTRY
27.02.2019 : ALLAHABAD BANK , CORPORATION BANK AND DHANALAXMI BANK COME OUT OF PCA FRAMEWORK
25.02.2019 : UNREGULATED DEPOSITS BANNED BY GOVT ORDINANCE
21.02.2019 ; LATEST BANK DEPOSIT INTEREST RATES - A COMPARISON
17.02.2019 : RBI WARNS OF NEW DIGITAL FRAUD : NEWS MEDIA
13.02.2019 : INDUSTRIAL PRODUCTION SHOWS IMPROVED GROWTH OF 2.4 % DURING DECEMBER 2018
13.02.2019 : RETAIL INFLATION FALLS TO 19 MONTH LOW IN JANUARY 2019 : STATISTICAL MINISTRY
08.02.2019 : LINKING AADHAAR MANDATORY TO FILE IT RETURN FOR FY 2018-19 : SUPREME COURT
04.02.2019 : ACTUAL EFFECT ON INCOME TAX PAYABLE DUE TO BUDGET 2019-20
01.02.2019 : GDP GROWTH REVISED TO 8.2 % IN 2016-17 AND 7.2 % IN 2017-18 : STATISTICAL MINISTRY
01.02.2019 : BANK OF INDIA , BANK OF MAHARASHTRA AND OBC COME OUT OF PCA FRAMEWORK : RESERVE BANK OF INDIA
01.02.2019 BUDGET PROPOSALS 2019-20