What Are All Bank FD Interest Rates in India?

You can invest a small amount from your monthly income in a fixed deposit. All Bank FD interest rates in India are quite impressive. And as you know that it is an investment for a future plan or safety. The FD schemes come with a maximum maturity period of 120 months and calculated interest is based on it. Read the given article to know about the banks FD schemes and their interest rates. 

List of All Bank FD interest rates in India

Several banks in India provide fixed deposit schemes to customers and some of the top banks FD schemes are as follows. 

Yes Bank: Customers get beneficial interest on their fixed deposit schemes from Yes Bank. it provides 7.50% interest on the deposited amount. And, you can reinvest in the scheme for 6 months after completing the first Yes Bank FD. A special interest of 8% is given to the senior citizens on their FD investments.   

ICICI: ICICI Bank gives a wide range of FD schemes for the customers and among all bank FD interest rates in India it provides the best deal. You can start an FD investment from INR 500 to 10,000 in ICICI FD. The user doesn’t require to invest in the scheme for a long duration and can yield a 4%-6% interest from a short-term FD investment also.  

HDFC: You can invest in the HDFC Bank fixed deposit for up to 10 years and earn an interest of 6.50% on your deposits. To book an Fd from the HDFC bank you can use its net banking services. The user can invest in the FD in monthly deposits and earn better returns.

How TDS is applied to all Bank FD interest rates?

According to the income tax act 194A, 10% interest would be deducted from your all bank FD interest rates if you have earned above INR 40,000 in a year. Whereas the TDS would be applied to the senior citizen FD account also if they earned above INR 50,000 in the last financial year. You can avoid the TDS on your bank FD interest rates if you submit Form 15H or 15G. And you must make sure that you have submitted all the documents to the bank because otherwise, 20% TDS is applied if PAN details are not submitted. 

Open an FD with a suitable BanK FD interest

You can open a FD account and start investing in it from INR 500 as there is no limit to your investment. Visit your bank branch and fill up an application form to open an FD and submit your KYC details to the bank. All the documents must be submitted properly so that you wouldn’t face any TDS on your FD returns. So, open your FD today with any of the mentioned banks and get the advantage of high interest on your monthly deposits. You can open the FD account without any trouble using the online banking services. The Fd investments are free from risks and give high interest on your investments.