Banking & Deposits4 min read
Fixed deposits remain the default safe parking spot for Indian savers. Rates vary by bank, tenure, and whether you're a senior citizen.
Current 1-year FD rates
Private banks (HDFC, ICICI, Axis, Kotak) currently lead at around 7.0–7.1%, with public-sector banks slightly lower. Senior citizens typically get an extra 0.50%.
Compounding matters
Most banks compound FD interest quarterly. The more frequent the compounding, the higher your effective yield for the same headline rate — try it in the FD calculator.
Always check the post-tax return: FD interest is fully taxable at your slab, unlike equity LTCG.
Sources
Reviewed against primary sources. Rates and rules change — confirm current figures with the official source before acting.
Ready to run your own numbers?
Open the calculators