Top 5 Private Sector Banks Promising Up To 6.50% Returns On 1-Year Fixed Deposits
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IndusInd Bank
With effect from 23rd July 2021 Indusind Bank is promising an interest rate of 6.00% to regular citizens and 6.50% to senior citizens on deposits maturing in 1 Year to below 1 Year 6 Months. The most recent interest rates on 1 year fixed deposits of the bank are as follows.
| Tenure | Regular Interest Rates | Annualised Yield | Rates for senior citizens | Annualised Yield |
|---|---|---|---|---|
| 7 days to 14 days | 2.5 | 2.5 | 3 | 3 |
| 15 days to 30 days | 2.75 | 2.75 | 3.25 | 3.25 |
| 31 days to 45 days | 3 | 3 | 3.5 | 3.5 |
| 46 days to 60 days | 3.25 | 3.25 | 3.75 | 3.75 |
| 61 days to 90 days | 3.4 | 3.4 | 3.9 | 3.9 |
| 91 days to 120 days | 3.75 | 3.75 | 4.25 | 4.25 |
| 121 days to 180 days | 4.25 | 4.25 | 4.75 | 4.75 |
| 181 days to 210 days | 4.6 | 4.63 | 5.1 | 5.13 |
| 211 days to 269 days | 4.75 | 4.81 | 5.25 | 5.32 |
| 270 days to 354 days | 5.5 | 5.58 | 6 | 6.09 |
| 355 days to 364 days | 5.5 | 5.58 | 6 | 6.09 |
| 1 Year to below 1 Year 6 Months | 6 | 6.18 | 6.5 | 6.71 |
| Source: Bank website, w.e.f. July 23rd, 2021 |
RBL Bank
For a deposit amount of less than Rs 3 Cr, Domestic, NRO, NRE & Flexi Fixed Deposits of less than 1 year will fetch the following rates.
| Period of deposit | Interest Rates p.a. | Senior Citizen Interest Rates p.a. |
|---|---|---|
| 7 days to 14 days | 3.25% | 3.75% |
| 15 days to 45 days | 3.75% | 4.25% |
| 46 days to 90 days | 4.00% | 4.50% |
| 91 days to 180 days | 4.50% | 5.00% |
| 181 days to 240 days | 5.00% | 5.50% |
| 241 days to 364 days | 5.25% | 5.75% |
| 12 months to less than 24 months | 6.00% | 6.50% |
| Source: Bank Website, w.e.f. September 01, 2021 |
Yes Bank
For a deposit amount of less than Rs 2 Cr, Yes Bank is promising the below-listed interest rates on 1 year deposits which are in effect from 5th August 2021.
| Period | Interest Rates | Annualised Yield | Senior Citizen Interest Rates p.a. | Annualised Yield |
|---|---|---|---|---|
| 7 to 14 days | 3.25% | 3.25% | 3.75% | 3.75% |
| 15 to 45 days | 3.50% | 3.50% | 4.00% | 4.00% |
| 46 to 90 days | 4.00% | 4.00% | 4.50% | 4.50% |
| 3 months to | 4.50% | 4.50% | 5.00% | 5.00% |
| 6 months to | 5.00% | 5.03% | 5.50% | 5.54% |
| 9 months to | 5.25% | 5.32% | 5.75% | 5.83% |
| Source: Bank website, w.e.f 5th August, 2021 |
DCB Bank
DCB Bank is now promising the following interest rates on deposits maturing in less than 1 year.
| Tenure | Interest Rates | Annualised Yield | Senior Citizen Interest Rates p.a. | Annualised Yield |
|---|---|---|---|---|
| 7 days to 14 days | 4.35% | 4.35% | 4.85% | 4.85% |
| 15 days to 45 days | 4.35% | 4.35% | 4.85% | 4.85% |
| 46 days to 90 days | 4.35% | 4.35% | 4.85% | 4.85% |
| 91 days to less than 6 months | 5.05% | 5.05% | 5.55% | 5.55% |
| 6 months to less than 12 months | 5.45% | 5.56% | 5.95% | 6.08% |
| 12 months | 5.55% | 5.67% | 6.05% | 6.19% |
| Source: Bank website, (with effect from 17th August, 2021) |
IDFC First Bank
For a deposit of less than Rs 2 Cr, Rate of Interest (%p.a.) w.e.f. September 15, 2021 of IDFC First Bank are as follows.
| Period | Regular interest rates | Senior Citizen Interest Rates p.a. |
|---|---|---|
| 7 – 14 days | 2.50% | 3.00% |
| 15 – 29 days | 2.50% | 3.00% |
| 30 – 45 days | 2.75% | 3.25% |
| 46 – 90 days | 2.75% | 3.25% |
| 91 – 180 days | 3.25% | 3.75% |
| 181 days – less than 1 year | 4.50% | 5.00% |
| Source: Bank Website |
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