Which Bank has the Highest Interest Rate for Fixed Deposits?
Suryoday Small Finance Bank offers the best 5-year FD interest rates for Non-Resident Indians (NRIs) of 9.10% p.a. for general citizens and 9.60% p.a. for senior citizens. Other popular scheduled banks with high-interest rates for NRIs include SBI Bank, PNB Bank, ICICI Bank, Yes Bank, HDFC Bank, and Axis Bank. The interest rates for general citizens in these banks range from 3.00% to 7.75% p.a. for NRE deposits below Rs. 2 crores. These banks offer fixed deposit tenures of 7 days to 10 years. NRIs can choose the tenure that best suits their needs and risk appetite.
Returns as high
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as 7.5%*
Includes life cover
Completely Tax free+
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Guaranteed
Highest
7.5%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
7.1%***
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Fixed Deposit Rates in India for NRIs/PIO/OCI
- Which Bank has the Highest Interest Rate for Fixed Deposits?
20 Best Banks with Highest Interest Rates in India for NRE Deposits
The list of banks with the highest bank interest rates in India for Non-Resident Indians (NRIs) on withdrawable NRE Fixed Deposit (FD) investments below Rs. 2 crores is as follows:
| Tenure for NRE Deposits: 1 – 10 years | ||||
| Name of Bank | Highest FD Bank Interest Rates (in % p.a.) | 1-Year Fixed Deposit Rates (in % p.a.) | 3-Year Fixed Deposit Rates (in % p.a.) | 5-Year Fixed Deposit Rates (in % p.a.) |
| Suryoday Small Finance Bank | 9.10% | 6.85% | 8.60% | 9.10% |
| Unity Small Finance Bank | 9.00% | 7.35% | 7.65% | 8.25% |
| Equitas Small Finance Bank | 8.50% | 8.20% | 8.00% | 7.25% |
| Jana Small Finance Bank | 8.50% | 7.25% | 7.35% | 6.00% |
| ESAF Small Finance Bank | 8.50% | 6.00% | 6.75% | 6.25% |
| Utkarsh Small Finance Bank | 8.25% | 7.75% | 8.25% | 7.50% |
| Ujjivan Small Finance Bank | 8.25% | 8.25% | 7.20% | 7.20% |
| DCB Bank | 8.00% | 7.25% | 8.00% | 7.75% |
| Bandhan Bank | 7.85% | 7.25% | 7.25% | 5.85% |
| RBL Bank | 7.80% | 7.00% | 7.10% | 7.10% |
| SBM Bank | 7.75% | 7.05% | 7.30% | 7.75% |
| YES Bank | 7.75% | 7.50% | 7.25% | 7.00% |
| Induslnd Bank | 7.75% | 7.75% | 7.50% | 7.25% |
| IDFC First Bank | 7.50% | 6.50% | 7.25% | 7.00% |
| Punjab & Sind Bank | 7.35% | 6.40% | 6.25% | 6.25% |
| Punjab National Bank | 7.25% | 6.75% | 7.00% | 6.50% |
| State Bank of India | 7.10% | 6.80% | 6.50% | 6.50% |
| Canara Bank | 7.25% | 7.00% | 6.85% | 6.70% |
| ICICI Bank | 7.10% | 6.70% | 7.00% | 7.25% |
| HDFC Bank | 7.25% | 6.60% | 7.00% | 7.00% |
**Interest Rates as of September 2023.
20 Best Banks with Highest Interest Rates for NRO Deposits
The table of best interest rate banks in India that allow withdrawable NRO Deposits below Rs. 2 crores is as follows:
| Tenure for NRE Deposits: 7 days – 10 years | ||||
| Name of Bank | Highest FD Bank Interest Rates (in % p.a.) | 1-Year Fixed Deposit Rates (in % p.a.) | 3-Year Fixed Deposit Rates (in % p.a.) | 5-Year Fixed Deposit Rates (in % p.a.) |
| Suryoday Small Finance Bank | 9.10% | 6.85% | 8.60% | 9.10% |
| Unity Small Finance Bank | 9.00% | 7.35% | 7.65% | 8.25% |
| Equitas Small Finance Bank | 8.50% | 8.20% | 8.00% | 7.25% |
| Jana Small Finance Bank | 8.50% | 7.25% | 7.35% | 6.00% |
| ESAF Small Finance Bank | 8.50% | 6.00% | 6.75% | 6.25% |
| Utkarsh Small Finance Bank | 8.25% | 7.75% | 8.25% | 7.50% |
| Ujjivan Small Finance Bank | 8.25% | 8.25% | 7.20% | 7.20% |
| DCB Bank | 8.00% | 7.25% | 8.00% | 7.75% |
| Bandhan Bank | 7.85% | 7.25% | 7.25% | 5.85% |
| RBL Bank | 7.80% | 7.00% | 7.10% | 7.10% |
| SBM Bank | 7.75% | 7.05% | 7.30% | 7.75% |
| YES Bank | 7.75% | 7.50% | 7.25% | 7.00% |
| Induslnd Bank | 7.75% | 7.75% | 7.50% | 7.25% |
| IDFC First Bank | 7.50% | 6.50% | 7.25% | 7.00% |
| Punjab & Sind Bank | 7.35% | 6.40% | 6.25% | 6.25% |
| Punjab National Bank | 7.25% | 6.75% | 7.00% | 6.50% |
| State Bank of India | 7.10% | 6.80% | 6.50% | 6.50% |
| Canara Bank | 7.25% | 7.00% | 6.85% | 6.70% |
| ICICI Bank | 7.10% | 6.70% | 7.00% | 7.25% |
| HDFC Bank | 7.25% | 6.60% | 7.00% | 7.00% |
**Interest Rates as of September 2023.
Comparison Between
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
*For annual premium upto ₹5 Lacs
Details of Highest Bank Interest Rates
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SBI FD Interest Rates for NRE/ NRO Deposits
The SBI Fixed Deposit bank interest rates applicable for NRE/ NRO deposits below Rs. 2 crores for NRIs are mentioned below:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.00% 180 days -- 5.25% 1 year 6.80% 6.80% 2 years 7.00% 7.00% 3 years 6.50% 6.50% 4 years 6.50% 6.50% 5 years 6.50% 6.50% 10 years 6.50% 6.50% **Interest Rates as of September 2023.
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ICICI Bank FD Rates for NRE/ NRO Deposits
The best bank interest rates for ICICI Bank NRE/ NRO Deposits of less than Rs. 2 crores are listed in the table below:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.00% 180 days -- 4.75% 1 year 6.70% 6.70% 2 years 7.10% 7.10% 3 years 7.00% 7.00% 4 years 7.00% 7.00% 5 years 7.00% 7.00% 10 years 6.90% 6.90% **Interest Rates as of September 2023.
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PNB FD Interest Rates for NRE/ NRO Deposits
The following is the table of PNB bank fixed deposit highest interest rates for NRE/ NRO deposits below Rs. 2 crores:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.50% 180 days -- 5.50% 1 year 6.75% 6.75% 2 years 6.80% 6.80% 3 years 7.00% 7.00% 4 years 6.50% 6.50% 5 years 6.50% 6.50% 10 years 6.50% 6.50% **Interest Rates as of September 2023.
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HDFC Bank FD Interest Rates for NRE/ NRO Deposits
HDFC Bank Fixed Deposit (FD) is a popular investment option among people for its reliability and best bank interest rates. The current highest bank rate of interest for NRE/ NRO deposits of up to Rs. 2 crores is listed in the table below:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.00% 180 days -- 4.50% 1 year 6.60% 6.60% 2 years 7.00% 7.00% 3 years 7.00% 7.00% 4 years 7.00% 7.00% 5 years 7.00% 7.00% 10 years 7.00% 7.00% **Interest Rates as of September 2023.
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Axis Bank FD Rates for NRE/ NRO Deposits
Axis Bank offers a fixed deposit facility to NRIs through both online and offline channels. Its interest rates differ for different tenures and investment amounts.
The current Axis Bank interest rates applicable to NRE/ NRO deposits of less than Rs. 2 crores are as follows:Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.50% 180 days -- 5.75% 1 year 6.75% 6.75% 2 years 7.05% 7.05% 3 years 7.00% 7.00% 4 years 7.00% 7.00% 5 years 7.00% 7.00% 10 years 7.00% 7.00% **Interest Rates as of September 2023.
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Canara Bank Fixed Deposit Interest Rates for NRE/ NRO Deposits
Canara Bank Fixed Deposit (FD) is the best investment scheme for individuals looking for a safe and secure way to grow their savings. The following interest rates are applicable with effect for NRE deposits below Rs. 2 crores are listed in the table below:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 4.00% 180 days -- 6.25% 1 year 7.00% 7.00% 2 years 6.85% 6.85% 3 years 6.80^ 6.80% 4 years 6.80% 6.80% 5 years 6.70% 6.70% 10 years 6.70% 6.70% **Interest Rates as of September 2023.
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Yes Bank Fixed Deposit Interest Rates for NRE/ NRO Deposits
The Yes Bank is a prominent private sector bank in India that offers Fixed Deposit (FD) schemes with the best bank interest rates.
The following fixed deposit interest rates are applicable for NRE deposits below Rs. 2 crores in Yes Bank Regular Fixed Deposits:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.25% 180 days -- 5.00% 1 year 7.50% 7.50% 2 years 7.75% 7.75% 3 years 7.25% 7.25% 4 years 7.25% 7.25% 5 years 7.00% 7.00% 10 years 7.00% 7.00% **Interest Rates as of September 2023.
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IndusInd Bank Fixed Deposit Interest Rates for NRE/ NRO Deposits
The following interest rates offered by the IndusInd Bank are applicable to NRE deposits below Rs. 2 crores:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.50% 180 days -- 5.00% 1 year 7.75% 7.75% 2 years 7.75% 7.75% 3 years 7.50% 7.50% 4 years 7.25% 7.25% 5 years 7.25% 7.25% 10 years 7.00% 7.00% **Interest Rates as of September 2023.
It is suggested to use the FD calculator online tool to estimate the returns on your FD investment. -
Bandhan Bank FD Interest Rates for NRE/ NRO Deposits
The table of Bandhan Bank fixed deposit highest interest rates for NRE/ NRO deposits below Rs. 2 crores is as follows:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.00% 180 days -- 4.50% 1 year 7.25% 7.25% 2 years 7.25% 7.25% 3 years 7.25% 7.25% 4 years 7.25% 7.25% 5 years 5.85% 5.85% 10 years 5.85% 5.85% **Interest Rates as of September 2023.
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IDFC Bank FD Interest Rates for NRE/ NRO Deposits
The following is the table for IDFC Bank fixed interest rates for different tenures of NRE/ NRO deposits below Rs. 2 crores:
Tenure Interest Rate for NRE Deposits (in % p.a.) Interest Rates for NRO Deposits (in % p.a.) 7 days -- 3.50% 180 days -- 5.00% 1 year 6.50% 6.50% 2 years 7.25% 7.25% 3 years 7.25% 7.25% 4 years 7.00% 7.00% 5 years 7.00% 7.00% 10 years 7.00% 7.00% **Interest Rates as of September 2023.
Small Finance Bank FD Rates for NRE/ NRO Deposits
The Small Finance Banks in India offer the highest interest rates to regular and senior citizens for deposits below Rs. 2 crores. The list of fixed deposit interest rates is listed in the table below:
| Bank Name | Interest Rate for NRE Deposits (in % p.a.) | Interest Rates for NRO Deposits (in % p.a.) |
| Tenure: 1 – 10 years | Tenure: 7 days – 10 years | |
| Unity Small Finance Bank | 7.00% - 9.00% | 4.50% - 9.00% p.a. |
| Suryoday Small Finance Bank | 6.75% - 9.10% | 4.00% - 9.10% p.a. |
| Fincare Small Finance Bank | 7.50% - 8.51% | 3.00% - 8.51% p.a. |
| SBM Bank | 6.50% - 7.75% | 4.25% - 7.75% p.a. |
| Utkarsh Small Finance Bank | 7.00% - 8.25% | 4.00% - 8.25% p.a. |
| Ujjivan Small Finance Bank | 6.50% - 8.25% | 3.75% - 8.25% p.a. |
| Equitas Small Finance Bank | 7.25% - 8.50% p.a. | 3.50% - 8.50% p.a. |
| Jana Small Finance Bank | 6.00% - 8.50% | 3.75% - 8.50% p.a. |
| ESAF Small Finance Bank | 6.00% - 8.50% | 4.00% - 8.50% p.a. |
| Shivalik Small Finance Bank | 6.75% - 8.00% p.a. | 3.75% - 8.00% p.a. |
**Interest Rates as of September 2023.
FAQ's
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Which Bank gives the highest interest rate on fixed deposits?
The Bank that offers the highest interest rate on fixed deposit (FD) in 2023 varies depending on the tenure and the type of customer (general public or senior citizen).Here are some of the banks with the highest FD interest rates in 2023:
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Suryoday Small Finance Bank: 9.10% p.a. for general citizens and 9.60% p.a. for senior citizens for a 5-year tenure.
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Utkarsh Small Finance Bank: 8.25% p.a. for general citizens and 8.75% p.a. for senior citizens for a 700-day tenure.
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Jana Small Finance Bank: 8.15% p.a. for general citizens and 8.85% p.a. for senior citizens for a 500-day tenure.
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ICICI Bank: 7.75% p.a. for general citizens and 8.25% p.a. for senior citizens for a 3-year tenure.
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HDFC Bank: 7.50% p.a. for general citizens and 8.00% p.a. for senior citizens for a 3-year tenure.
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Which Bank has the highest interest rate for fixed deposits in 2023?
As of September, 2023, the Bank with the highest interest rate for fixed deposits in India is Suryoday Small Finance Bank. They offer a 9.10% p.a. interest rate for general citizens and a 9.60% p.a. interest rate for senior citizens for a 5-year tenure. -
Where can I get 9% interest?
The investment options where you can get 9% bank interest rates for NRIs are as follows:-
Small finance banks: Some small finance banks offer fixed deposits (FDs) with interest rates as high as 9%. For example, Unity Small Finance Bank offers an FD with an interest rate of 9.50% for senior citizens for a 5-year tenure.
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Non-banking financial companies (NBFCs): Some NBFCs also offer FDs with interest rates as high as 9%. For example, Indiabulls Housing Finance offers an FD with an interest rate of 9.25% for senior citizens for a 3-year tenure.
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Peer-to-peer lending: Peer-to-peer lending platforms allow you to lend money to other people and earn interest. Some platforms offer 9% interest, but there is some risk involved.
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Which Bank gives 8% interest?
Some banks that offer 8% interest on fixed deposits (FDs) for NRIs are as follows:-
DCB Bank: 8% interest for senior citizens on FDs maturing between 700 days and 24 months.
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Jana Small Finance Bank: 8.15% interest for general citizens and 8.85% interest for senior citizens on FDs maturing between 500 days and 730 days.
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Suryoday Small Finance Bank: 8.80% interest for senior citizens on FDs maturing between 365 days and 730 days.
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IDFC First Bank: 8% interest for general citizens and 8.50% interest for senior citizens on FDs maturing between 18 months and 3 years.
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Yes Bank: 8% interest for general citizens and 8.50% interest for senior citizens on FDs maturing between 25 months and 35 months.
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* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 20,000/- monthly (exclusive of all applicable taxes)
** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens)
*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
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