Best fixed deposit rate: Which bank is offering the highest FD interest rates and on which tenure

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Best fixed deposit rate: Bank fixed deposits (FDs) are popular among investors seeking stable returns and capital preservation. These are considered low-risk investments because they offer guaranteed returns. There is insurance of up to ₹5 lakh of deposit with a particular bank in case the bank defaults in payment of the deposit. The deposits are insured by the Deposit Insurance and Credit Guarantee Corporation Limited (DICGC). 

The banks offering the best FD rates can vary depending on various factors, and the specific tenure of the fixed deposit. Some banks in India known for offering competitive FD rates include: Kotak Mahindra Bank, HDFC Bank, Axis Bank, ICICI Bank, State Bank of India (SBI), Punjab National Bank (PNB), IDFC First Bank, Yes Bank, Punjab & Sind Bank, RBL Bank, DCB Bank.

RBL Bank offers an interest rate of 8.10% for deposits ranging from 546 days to 24 months (18 months to 24 months). DCB Bank provides an interest rate of 8% for deposits lasting from 25 months to 26 months.

Induslnd Bank offers an interest rate of 7.75% for various durations: 1 Year to below 1 Year 6 Months, 1 Year 6 Months to below 1 Year 7 Months, and 1 Year 7 Months up to 2 Years.

IDFC First Bank provides an interest rate of 7.75% for deposits lasting from 549 days to 2 years. Yes Bank offers an interest rate of 7.75% for deposits between 18 months and less than 24 months.

Punjab National Bank offers an interest rate of 7.25% for deposits lasting 400 days. Bank of Baroda provides an interest rate of 7.25% for deposits above 2 years and up to 3 years.

SBI offers an interest rate of 7% for deposits lasting from 2 years to less than 3 years.

HDFC Bank offers an interest rate of 7.25% for deposits ranging from 18 months to less than 21