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Fixed Deposit

Fixed deposit is a type of financial instrument offered by banks which is referred as one of the safest investment options available. Fixed Deposit provides a higher rate of interest rate than a regular savings account. Banks provide flexibility in selecting Fixed Deposit tenure which can vary from 7 days to 10 years. FD interest rates depend upon various factors such as the tenure of the deposit, economic conditions, investment amount, age of the investor and bank’s policies.

Additionally, banks and financial institutions provide various features added to the normal fixed deposit like a sweep in deposit facilitytax saver FD, loan against fixed deposit and much more. In other words, fixed deposit provides high returns on the investment, greater flexibility, high stability and safety of investor’s hard-earned money.

Why Choose Fixed Deposit?

The fixed deposit provides various features and benefits, which makes it one of the most popular investment options to the depositors. Below-mentioned are some of the reasons why one should choose a fixed deposit:

1. Guaranteed Returns on Investment

Fixed Deposit provides guaranteed returns on investments. The fixed deposit interest rates applicable (at the time of investment) are what the bank commits to pay on their investments and are always risk-free.

2. Flexible Deposit Tenure Options

The Fixed deposit comes with flexible tenure options which may from 7 days to 10 years. Fixed Deposit interest rates also vary with different tenure options. However, account holders can invest in tax-saver fixed deposits only for a fixed period of 5 years and 10 years.

3. Investment Amount

The minimum and maximum fixed deposit investment amount can vary from one bank to another. However, some banks provide minimum fixed deposit amount as low as Rs.100 with no maximum deposit limit that can be invested in a fixed deposit. Tax saver FDs come with a maximum limit of Rs.1.5 lakh per annum. However, fixed deposit rates offered on bulk fixed deposits (Rs.2 Crore and above may vary).

4. Higher Returns

Fixed deposit interest rates are higher than the returns on the savings account. Fixed Deposit interest rates vary from 3.5% to 9.20% per annum according to the bank, age of the investor and the tenure that one invests for.

5. Calculate FD Returns

Any investor can check and calculate the returns on the fixed deposits easily by using fixed deposit calculator. The fixed deposit calculator helps to calculate the returns using principal amount, FD interest rates and tenure.

6. Loan against Fixed Deposit

Banks and Financial Institutions provide the facility to all its depositors to avail loan against fixed deposits. Interest rates on these loans are usually 1-2% higher than fixed deposit interest rates but less than most of the applicable interest rates on loans. Individuals who are in need of an urgent inflow of cash can avail loan against fixed deposit instead of withdrawing their fixed deposit before maturity.

If any individual opts for a premature fixed deposit withdrawal, they get fixed deposit interest rates lower than the card rate and equal to the rate of interest offered on the day the money is withdrawn, which leads to a loss of returns. Instead of making FD withdrawals, individuals should opt for a loan against FD as it is offered at lower interest rates and are classified under secured loans where the fixed deposit acts as collateral.

7. Credit Card against Fixed Deposit

Any individual holding a fixed deposit can avail a credit card secured against it. As it is a secured credit card, it would, therefore, not necessarily require a good credit history. These credit cards can also help in building credit history and improve credit score, provided the cardholder uses the card responsibly.

8. Premature or Partial Withdrawal

Fixed deposits with premature withdrawal facility allow the depositor to close the FD even before the maturity period. However, account holder will be required to pay premature penalty to the bank for withdrawing the FD amount before deposit tenure. Some banks do offer premature withdrawal facility with zero penalty charges. On the other hand, with fixed deposits without premature withdrawal, the depositor cannot withdraw the FD amount before the deposit tenure.

Useful Article: Credit Card against Fixed Deposit

Fixed deposit interest rates can vary from one bank to another and also for different deposit tenures. Individuals must always check the fixed deposit interest rates for different banks and financial institutions before investing in a fixed deposit to get the best bank rates.

Top 10 Banks Fixed Deposit Interest Rates in India for up to 1 year Tenure

Bank

Rate of Interest*

Deposit Tenure

Regular Individuals

Senior Citizens

ESAF Small Finance Bank

8.50%

9.00%

365 - 727 days

Ujjivan Small Finance Bank

8.30%

8.80%

1 year to 2 years

Yes Bank

7.85%

8.35%

12 months 10 days to
12 months 20 days

IndusInd Bank

7.60%

8.10%

1 year to 1 year 2 months

DCB Bank

7.40%

7.90%

12 months 1 day to less than 15 months

Standard Chartered Bank

7.20%

7.70%

1 year – 375 days

HDFC Bank

7.00%

7.50%

1 year

Axis Bank

7.10%

7.75%

1 year < 1 year 5 days

State Bank of India

6.80%

7.30%

1 year to less than 2 year

Canara Bank

6.70%

7.20%

1 year

*Fixed Deposit Rates are subject to change without any prior information.

Note: Fixed Deposit interest rates are applicable on the amount below Rs. 2 Crore.

Top 10 Banks Fixed Deposit Interest Rates for 2 years Tenure

Bank

Rate of Interest*

Deposit Tenure

Regular Individuals

Senior Citizens

Fincare Small Finance Bank

9.00%

9.50%

24 months 1 day to 36 months

Ujjivan Small Finance Bank

8.30%

8.80%

1 year to 2 years

RBL Bank

8.00%

8.50%

24 months to less than 36 months

Yes Bank

7.75%

8.25%

2 years to less than 3 years

DCB Bank

7.50%

8.00%

24 months

Axis Bank

7.30%

7.95%

2 years < 30 months

IndusInd Bank

7.30%

7.95%

2 years to less than 30 months

Deutsche Bank

7.00%

7.00%

> 1.5 years - 2 years

IDBI Bank

7.05%

7.55%

>1 year to  2 years

State Bank of India

6.70%

7.20%

2 years to less than 3 years

*Fixed Deposit Rates are subject to change without any prior information

Note: Fixed Deposit interest rates are applicable on the amount below Rs. 2 Crore.

Top 10 Banks Fixed Deposit Interest Rates for 4 years Tenure

Bank

Rate of Interest*

Deposit Tenure

Regular Individuals

Senior Citizens

Fincare Small Finance Bank

8.00%

8.50%

3 years 1 day to 5 years

DCB Bank

7.75%

8.25%

More than 36 months to 60 months

IndusInd Bank

7.35%

7.85%

3 years to below 61 month

Deutsche Bank

7.25%

7.25%

> 3 years - 4 years

Yes Bank

7.25%

7.75%

1 year to <= 10 years

Axis Bank

7.25%

7.75%

3 years < 5 years

ICICI Bank

7.25%

7.75%

3 years 1 day up to 5 years

Ujjivan Small Finance Bank

7.00%

7.50%

3 years and 1 day to 5 years

State Bank of India

6.60%

7.10%

3 years to less than 5 years

Bank of India

6.50%

7.00%

3 years and above to less than 5 years

*Fixed Deposit Rates are subject to change without any prior information

Note: Fixed Deposit interest rates are applicable on the amount below Rs. 2 Crores.

Top 10 Banks Fixed Deposit Interest Rates in India for Regular Citizens

Bank

Rate of Interest (Regular Individuals)*

Deposit Tenure

Utkarsh Small Finance Bank

9.00%

456 days to less than 2 years

Ujjivan Small Finance Bank

8.60%

799 Days

Deutsche Bank

8.00%

5 years

DCB Bank

8.25%

36 months

IndusInd Bank

7.60%

Above 1 years 2 months to 1 years 4 months

Yes Bank

7.85%

12 months 10 days to

12 months 20 days

Axis Bank

7.30%

2 years < 30 months

HDFC Bank

7.30%

2 years 1 day - 3 years

Canara Bank

6.70%

1 year

State Bank of India

6.80%

1 year to less than 2 years

*Fixed Deposit Rates are subject to change without any prior information

Note: Fixed Deposit interest rates are applicable on the amount below Rs. 2 Crore

Top 10 Banks Fixed Deposit Interest Rates in India for Senior Citizens

Bank

Rate of Interest (Senior Citizens)

Deposit Tenure

Utkarsh Small Finance Bank

9.50%

456 days to less than 2 years

Ujjivan Small Finance Bank

9.10%

799 days

IDFC First Bank

9.00%

2 years

DCB Bank

8.75%

36 months

RBL Bank

8.50%

24 months to less than 36 months

IndusInd Bank

8.25%

Above 1 Years 4 Months to below 2 Years

Yes Bank

8.35%

12 months 10 days to 12 months 20 days

Standard Chartered Bank

7.80%

18 months  < 21 months

ICICI Bank

7.80%

2 years 1 day up to 3 years

State Bank of India

7.30%

1 year to less than 2 years

*Fixed Deposit Rates are subject to change without any prior information

Note: Fixed Deposit interest rates are applicable on the amount below Rs. 2 Crore.

Top 10 Banks Tax-Saver FD Interest Rates in India

Bank

Rate of Interest*

Deposit Tenure

Regular Individuals

Senior Citizens

IDFC First Bank

7.75%

8.25%

5 years

RBL Bank

7.60%

8.10%

60 months to less than 120 months

IndusInd Bank

7.50%

8.00%

5 years

Yes Bank

7.25%

7.75%

5 years

DCB Bank

7.25%

7.75%

More than 60 months to 120 months

ICICI Bank

7.25%

7.75%

5 years

State Bank of India

6.50%

7.00%

5 years and up to 10 years

IDBI Bank

6.70%

7.20%

5 years

Bank of Baroda

6.70%

7.20%

Above 3 years and up to 5 years

Kotak Mahindra Bank

6.50%

7.00%

5 years and above up to and inclusive of 10 years

*Fixed Deposit Rates are subject to change without any prior information

Note: Fixed Deposit interest rates are applicable on the amount below Rs. 2 Crore.

Company Fixed Deposit is a type of fixed deposit which is issued by companies for a fixed tenure with a specified rate of interest. Company Fixed Deposits are generally provided by finance companies, housing finance companies, and other Non-Banking Financial Companies. Agencies like ICRA, CARE, and CRISIL rate such deposits for the purpose of providing safety.

Company Fixed Deposits are unsecured and any individual only invests the money on the basis of its stand and reputation in the market. So, it is important to consider these ratings before investing in a corporate fixed deposit.

Benefits of Company Fixed Deposit

Company Fixed Deposit provides some benefits which makes it a preferred investment option over other fixed deposits in India. Following are the benefits of investing in a company fixed deposit:

  • Generally, company fixed deposit interest rates are higher than fixed deposits provided by banks
  • The company fixed deposits also comes with nomination facility
  • With this type of deposits, any depositor can get better fixed deposit rates for a short tenure with better liquidity

Top 5 Company Fixed Deposit Providers in India

  1. Mahindra Finance
  2. Shriram Transport Finance
  3. Bajaj Finserv
  4. Sundaram Finance Company
  5. Kerala Transport Development Finance Corporation Limited

High paying Company Fixed Deposit Interest Rates 2019

Bank

Rate of Interest*

Deposit Tenure

Regular Individuals

Senior Citizens

Mahindra Finance

9.00%

9.10%

33 months

Shriram Transport Finance

8.88%

9.05%

60 months

Bajaj Finserv

8.60%

8.95%

36 – 60 months

Sundaram Finance Company

8.00%

8.50%

24 months

Kerala Transport Development Finance Corporation Ltd

8.50%

8.75%

1 year

LIC Housing Finance FD

8.30%

8.75%

5 years 

PNB Housing FD

8.45%

8.45%

60 - 71 months

ICICI Home Finance FD

8.45%

8.70%

>=108 to <120 months

HDFC Ltd.

7.78%

8.03%

24-84 months

HUDCO

7.50%

7.75%

12 months

*Fixed Deposit Rates mentioned above are under Cumulative Fixed Deposit Scheme and are subject to change without any prior information.

Check Non-Cumulative Company Fixed Deposit Interest rates here.

  1. Cumulative Fixed Deposit
  2. Non-Cumulative Fixed Deposit
  3. Tax Saving Fixed Deposit

Cumulative Fixed Deposit

Under a cumulative fixed deposit, the investor does not get any FD interest over every quarter, half-year or year. The FD interest under a cumulative deposit scheme is compounded every quarter, half-year or every year and added back to the total deposit amount and paid at the end of the deposit tenure.

For instance, a customer invests in a cumulative fixed deposit with FD interest rate of 10%. So, he/she will not get interest every month, quarter, half-yearly, and yearly. The accumulated interest will be payable at the end of the deposit tenure with the maturity amount.

Non-Cumulative Fixed Deposit

Under a non-cumulative fixed deposit, a customer is paid interest at regular intervals i.e. monthly, quarterly, half-yearly or yearly as per the bank policy. A non-cumulative fixed deposit is best suited for those who want to earn at regular intervals. For instance, senior citizens who have no source of income can opt for a non-cumulative fixed deposit that can help them with regular interest income.

Tax-Saving Fixed Deposit

Under section 80C of Income Tax Act, 1961 customers can opt for tax-saving fixed deposit and can claim a deduction of a maximum of Rs. 1.5 lakh by investing for a lock-in period of 5 years, which cannot be withdrawn before the maturity date. However, the interest earned is taxable. Also, the depositor can nominate/authorize someone to withdraw the accrued deposit amount before or post maturity in the event of the death of the depositor.

Suggested Read: Interest Rates of Tax Saving Fixed Deposit

Income Tax Fixed Deposit Interest

Interest earned on Fixed Deposit is added to the investor’s annual income and is fully taxable under the income tax slab applicable. FD interest income is considered under ‘Income from Other Sources’ category in the Income Tax Return.

Under Union Budget 2019 announcement, the government raised the TDS (Tax Deducted at Source) threshold limit on interest earned on bank/post office deposits from Rs. 10,000 to Rs. 40,000. So, from April 2019, banks will not deduct TDS if income earned by interest is up to Rs. 40,000. On FD interest income more than Rs. 40,000, banks will deduct 10% TDS.

Earlier, banks used to deduct TDS on interest income of more than Rs.10,000. Any individual who is earning FD interest income up to Rs. 10,000 was not deducted any TDS. There used to be no TDS deduction on FD interest income up to Rs. 10,000, but the interest income was added to the annual income.

However, if an individual fall under 5% income tax slab, then the individual can file Income Tax Return and claim a refund. If an individual is not liable to pay any income tax as per the Income Tax Slabs applicable, then the individual can submit Form 15G with the bank to avoid TDS deduction. Senior citizens can submit Form 15H with their bank to avoid TDS deduction. 

However, if any individual falls under any income tax slab which is more than 10%, then he/she is liable to pay more tax (above TDS).

A Fixed Deposit Interest Calculator is easy to use tool available online which helps in calculating the FD interest and maturity amount in no time. Any individual looking to invest in a fixed deposit can calculate the FD interest earnings on the desired deposit amount by using the FD calculator. Just provide the required details like deposit amount, fixed deposit interest rates and deposit tenure to check FD interest in few seconds.

Fixed Deposit Maturity Calculator

A Fixed Deposit Maturity Calculator is another convenient financial tool available online which can be used to calculate the fixed deposit maturity amount online. This FD calculator is available 24 x 7 to facilitate individuals in checking the maturity amount on their desired deposit amount. Any individual can use this fixed deposit calculator by providing deposit amount, FD interest rates and deposit tenure to check the maturity amount of the fixed deposit in seconds.

How does FD Interest Calculator Work?

To calculate the fixed deposit interest amount manually can be complex and time taking process that is prone to human errors as well. It is always advisable to use FD calculator available online as it is accurate and quick. Any individual can calculate interest on the fixed deposit by providing the following details:

  • Deposit Amount: It is the amount that an individual invests in FD for a given tenure. The minimum and maximum deposit amount varies from one bank to another. Usually, one can invest as low as Rs. 100 in a fixed deposit.
  • Rate of Interest: It is the interest rate offered on the deposit amount. The rates of interest on fixed deposits also vary with the deposit tenure one chooses.
  • Deposit Tenure: Deposit tenure is the specified tenure that a depositor chooses to invest his / her money for. A fixed deposit can be made for a minimum of 7 days and a maximum of 10 years for most of the banks and financial institutions.

Both fixed deposits and recurring deposits are safe investment options which are offered by most of the banks operating in India. A fixed tenure and amount (Per month in case of recurring deposit) should be specified before investing in any of the above-mentioned deposit. People often keep asking the question - Which is the best bank for a fixed deposit or recurring deposit in India? Investors can also calculate and compare the FD interest rate online with recurring deposit interest rate before making an investment decision.

To make an informed decision, one must be aware of what a fixed and recurring deposit is all about. Below mentioned is the difference between recurring deposits and fixed deposits:

 

Fixed Deposit

Recurring Deposit

Amount Invested

Fixed Deposits come with no maximum limit on the amount that can be invested; however, the minimum requirement varies from one bank to another

Recurring Deposits come with no fixed maximum or minimum limit generally

Minimum Investment Amount

Rs.100 (varies from one bank to another)

Rs. 1000 (varies from one bank to another)

Maximum Investment Amount

No upper limit

Rs. 15 lakh (varies from one bank to another)

Deposit Term

Fixed Deposit tenure also varies from 7 days to 10 years and the depositor can opt for tenure as per his/her convenience. For tax saver FD, the depositor can only invest for 5 years or 10-year tenure

Recurring deposits may come with an investment tenure ranging from 1 year to 10 years, where an individual deposits a fixed amount at regular intervals (monthly) over the tenure specified

Interest offered

For FDs, the interest is earned in a compounding manner on the entire amount deposited starting from the initial lump sum amount. Because of this Rs. 12,000 FD investment will accrue more interest than a 12 month RD of Rs. 1000 each month

For RDs of 1 year, the first installment earns 12 months of interest, the next one acquires interest for 11 months only, while the third one gets it for 10 months and so on

Tax

FD interest earned in a financial year is added to the income and is taxable. Tax deductions can also be claimed for fixed deposits for tenure of 5 years or more. But, the interest earned on tax saver FDs will also be taxable

Recurring Deposit comes with no tax benefit associated with it. Also, RD interest earned is added to the annual income and is taxable

Premature Withdrawal

Banks allow premature withdrawal of the deposit amount by paying a penalty to the bank

For most of the banks, both FD and RD have similar terms and conditions for premature withdrawal

Useful Article: FD Vs RD

Following is the list of KYC documents which are required for opening a Fixed Deposit Account:

Proof of Identity

Address Proof

  • Passport
  • Telephone bill
  • Electricity bill
  • Bank Statement with Cheque
  • Aadhaar card
  • Certificate/ ID card issued by Post office

Any individual can compare and open a Fixed Deposit Account online at Paisabazaar.com by just following two simple steps:

Step 1: In the first step, fill a Fixed Deposit form on Paisabazaar with required personal data like city that an individual reside in, name of the investor, date of birth, email address and contact number. Once submitted, the Fixed Deposit tool automatically will provide best bank FD options to compare.

Step 2: In the second step, the applicant can compare FD rates and apply for the one offering higher fixed deposit interest rates. The investor will be either redirected to the selected bank’s website or provided with a reference number. If the individual looking to invest in a fixed deposit is provided with a reference number for the fixed deposit application, an account expert will get in touch for further process of the application.

Alternatively, interested investors can open a Fixed Deposit offline as well by visiting the preferred bank’s branch nearby.

Q. Who can invest in fixed deposit schemes?

A. Resident individuals, private and public limited companies, Hindu Undivided Families (HUF), partnership firms and societies can book fixed deposits. Some banks and NBFCs including India Post allow minors above the age of 10 years to open fixed deposits with a parent or guardian as the co-holder of the account. They have to get the FD scheme registered in their name when they attain 18 years of age.

Q. What is the minimum and maximum tenure of FD schemes?

A. The tenure of FD schemes varies from as less as 7 days to as long as 10 years. Tax saving FD scheme has a lock-in period of 5 years and may be extended for up to a maximum of 10 years. Some senior citizen schemes that offer higher interest rates on deposits up to Rs 7.5 lakhs have tenure of 10 years.

Q. When and how will the investor receive the interest amount?

A. There are two types of FD schemes- traditional schemes, where the interest amount is paid to the depositor monthly or quarterly and the reinvestment scheme, where the interest earned is reinvested in the FD scheme. This option to reinvest the interest or get the interest on a monthly basis is provided at the time of booking the FD.

Q. Can depositors get interests on a monthly basis?

A. Yes, fixed deposits can be modified to get interest on a monthly basis like pension schemes. The interest is paid to the investor on a monthly basis if he chooses the monthly payout of interest option at the time of booking the FD.

Q. What is the lock-in period of Tax Saver FD scheme?

A. Tax Saver FD scheme has a minimum lock-in period of 5 years and can be extended for up to 10 years.

Q. What benefits are offered to senior citizens under FD schemes?

A. Senior citizens get an additional interest (which varies from one bank to another) on the same FD scheme on deposits below Rs 1 Crore. Non-resident senior citizens however do not get this benefit.

Check Senior Citizen Fixed Deposit Interest Rates.

Q. Can FDs be broken before maturity?

A. Depositors can withdraw money partially or prematurely but the bank charges a penalty at the time of withdrawal. The interest rate offered by the bank usually decreases if the rate of interest at the time of withdrawal is lower than the card rate at which the FD was booked.

Q. Can an investor take loans against fixed deposits?

A. Many banks offer loans against fixed deposits. Applicants can get a loan of up to 90% of the FD amount. These loans are offered for a period less than or equal to the remaining FD tenure. Interest rates charged on these loans is only 1% to 2% more than the FD interest rate, which still put it at a lower level than the interest rate charged on personal loans. Financial emergency can occur at any time and arranging funds during this period is very important. Loan against FDs are a great option during this period. The bank provides these loans at low interests and the depositor gets interest on FDs even after the loan is sanctioned.

Q. Can minors open fixed deposit accounts?

A. Many banks and NBFCs offer FD investment options to minors with a parent/guardian acting as co-applicant. India Post offers fixed deposits to minors above the age of 10 years. But the minor has to get the FD transferred to his name when he reaches the age of 18 years.

Useful Article: What is Post office Fixed Deposit

Q. Do banks provide more interests on long term deposits?

A. Banks offer low interest rates on deposits made for short tenures. Interest rates offered for less than 6 months are similar to the interest rate offered on savings account. For the most part, fixed deposits booked for longer periods offer higher interest rates. Generally, banks offer highest interest rates on fixed deposits made for tenure of 2 to 5 years.

Here is a comprehensive list of banks that offer Fixed Deposits (1 year) along with the interest rates.

Bank

Fixed Deposit Interest Rates* (in % p.a.)

Regular Citizens

Senior Citizens

ESAF Small Finance Bank

8.50%

9.00%

Utkarsh Small Finance Bank

8.50%

9.00%

Jana Small Finance Bank

8.50%

9.10%

Suryoday Small Finance Bank

8.35%

8.85%

Ujjivan Small Finance Bank

8.30%

8.80%

Fincare Small Finance Bank

8.00%

8.50%

RBL Bank

7.90%

8.40%

IDFC First Bank

7.75%

8.25%

Bandhan Bank

7.65%

8.40%

IndusInd Bank

7.60%

8.10%

Yes Bank

7.25%

7.75%

Federal Bank

7.25%

7.75%

HDFC Bank

7.10%

7.60%

Axis Bank

7.10%

7.75%

DCB Bank

7.00%

7.50%

Kotak Mahindra Bank

7.00%

7.50%

DBS

7.00%

7.00%

ICICI Bank

6.90%

7.40%

OBC

6.85%

7.35%

Canara Bank

6.70%

7.20%

SBI

6.60%

7.10%

Bank of Baroda

6.45%

6.95%

*Fixed Deposit Rates are subject to change without any prior information.

4.1 / 5 (10 Reviews)
Paisabazaar
Fixed Deposits
5/5

Shows the right path

HDFC came to help when I was in urgent need of cash. Thanks to Paisabazaar for showing me the right path.

Hiralal Mandal Posted on:Jun 22 , 2019
Paisabazaar
Fixed Deposits
4/5

quick response

nice website experience with paisabazaar.com

Nikhil Arora Posted on:Feb 18 , 2019
Paisabazaar
Fixed Deposits
4/5

Good option for senior citizens

I opened a fixed deposit in Bank of Baroda for senior citizens. My plan was for 5 years and it offered the interest rate of 7.9% p.a. I chose the option of monthly payment of interest and now the interest is credited to my account every month like a pension plan. This investment option is really very good for senior citizens.

K D Bakshi Posted on:Aug 23 , 2017
Paisabazaar
Fixed Deposits
4/5

Excellent service

I opened my fixed deposit in Bank of Baroda for 2 years at 7.4% p.a. interest rate. The bank provided excellent services as I got the FD opened in minutes. The documentation was quick and I also got the facility to view and track my interests and FD scheme easily with BOB. The staff was also very cordial and helpful.

Nidhi Sharma Posted on:Aug 22 , 2017
Paisabazaar
Fixed Deposits
4/5

Impressive Interest Rate

The bank has very impressive interest rates. I booked FD for my father under senior citizens scheme and the bank offered 8.1% interest rate on my 2 year deposit. It is the highest interest rate offered by any bank today. The processing was also very fast and I got the account opened in no time.

Bhavesh Patel Posted on:Aug 21 , 2017
Paisabazaar
Fixed Deposits
4/5

Quick to open and smooth processing

I opened a fixed deposit of Bank of Baroda at 7.4% for 3 years by investing Rs 3 lakh. The fixed deposit was opened in no time and the initial processing was also very smooth and fast. Already have my salary account in Bank of Baroda and I had to just transfer my money from my account for the investment.

Harinder Singh Posted on:Aug 18 , 2017