Top 10 investment options - Best Saving Plan in India
Here is the list of the most popular savings schemes and other parameters:
National Savings Scheme.
National Savings Certificate.
Public Provident Fund.
Post Office Savings Scheme.
Senior Citizens Savings Scheme.
Kisan Vikas Patra.
Sukanya Samriddhi Yojana.
and more...
Best Government Saving Schemes in India :
National Pension System (NPS)
Kisan Vikas Patra
Endowment Plans.
Money Back Plans.
Unit Linked Insurance Plans (ULIPs)
Sukanya Samriddhi Yojana (SSY)
Atal Pension Yojana
Employee Provident Fund (EPF)
Fixed Deposit Schemes for saving :
When you will comes to investments your money, fixed deposits are a preferred option as it offers guaranteed returns.
So, here we have compiled the FD interest rates by various banks that operate in the country.
All about FD Interest Rates
Fixed Deposit Interest Rates by Top Banks in India
The interest rates (p.a) offered by top banks for the FD duration of 7 days to 10 years.
Name of Bank General Citizens Senior Citizens
State Bank of India 5.00% to 6.80% 5.50% to 7.30%
ICICI Bank 4.00% to 7.10% 4.50% to 7.60%
HDFC Bank 3.50% to 7.30% 4.00% to 7.80%
Punjab National Bank 5.00% to 6.75% 5.50% to 7.25%
Canara Bank 5.00% to 6.50% 5.50% to 7.00%
Axis Bank 3.50% to 7.20% 3.50% to 7.85%
Kotak Mahindra Bank 3.50% to 6.90% 4.00% to 7.40%
Bank of Baroda 4.50% to 6.60% 5.00% to 7.10%
IDFC Bank 4.00% to 8.50% 4.50% to 9.00%
Bank of India 5.00% to 6.50% 5.50% to 7.00%
Note: The interest rates shown in the table are for deposits less than Rs.2 crore as of 31 August 2019.
Highlights of Top Bank FD Rates:
The interest rates(p.a) offered by top banks for the FD duration between 7 days and 10 years.
The highest interest is offered by IDFC Bank compaire to all the banks. It given offers interest of 8.50% to general citizens and 9.00% to senior citizens.
Following FD Rates Offered by Other Banks Operating in India
Name of the Bank General Citizens (p.a.) Senior Citizens (p.a.)
Indian Overseas Bank 4.50% to 6.80% 5.00% to 7.30%
Bandhan Bank 3.50% to 7.65% 4.25% to 8.40%
RBL Bank 5.00% to 7.75% 5.50% to 8.25%
DBS Bank 4.00% to 7.25% 4.00% to 7.25%
Andhra Bank 4.00% to 6.80% 4.50% to 7.30%
HSBC Bank 3.00% to 6.00% 3.50% to 6.50%
Syndicate Bank 4.75% to 6.70% 5.25% to 7.20%
Duetsche Bank 6.50% to 8.00% 7.00% to 8.00%
Corporation Bank 5.00% to 6.90% 5.50% to 7.40%
Yes Bank 5.00% to 7.25% 5.50% to 7.75%
IndusInd Bank 3.75% to 7.50% 4.25% to 8.00%
UCO Bank 4.50% to 6.50% 4.75% to 6.90%
United Bank of India 4.00% to 6.50% 4.50% to 7.00%
Union Bank of India 5.00% to 6.75% 5.00% to 6.75%
Allahabad Bank 5.00% to 6.70% 5.00% to 6.70%
Central Bank of India 4.50% to 6.60% 4.50% to 6.60%
Indian Bank 4.50% to 6.90% 5.00% to 7.40%
Banks which offer high interest on Tax Saver FDs
Tax Saver FDs are those under which you can get a tax exemption of up to Rs.1.5 lakh under Section80C of the Income Tax Act, 1961. The tenure of a tax saving FD is 5 years. Listed in the table below are the banks which offer good interest rates to both general and senior citizens FD.
Name of the Bank General Citizens (p.a.) Sn. Citizens (p.a.)
State Bank of India 6.50% 7.00%
ICICI Bank 7.00% 7.50%
HDFC Bank 7.25% 7.75%
Axis Bank 6.75% 7.25%
Bank of Baroda 6.45% 6.95%
IDFC Bank 7.75% 8.25%
Central Bank of India 6.45% -----
Punjab National Bank 6.50% 7.00%
IDBI Bank 6.85% 7.35%
Corporation Bank 6.50% 7.00%
Syndicate Bank 6.50% 7.00%
Note: The interest rates mentioned in the table are for deposits below Rs.2 crore as 31 August 2019.
Post Office Saving Schemes
Following all types of Post Office Savings schemes:
1.National Savings Recurring Deposit Account
2.National Savings Time Deposit Account
3.National Savings Monthly Income Account
4.Senior Citizens Savings Scheme Account?
5.Public Provident Fund Account
6.National Savings Certificates (VIII Issue)
7.Kisan Vikas Patra Account
8.Sukanya Samriddhi Account
Details of Post office Saving schemes:
1.Post Office Savings Account.
The Interest payable by this scheme is 4.0% per annum on individual / joint accounts.
The minimum Amount for opening of account and maximum balance that can be retained INR 20/- for opening.
Minimum balance to be maintained in a non-Cheque facility account is INR 50/-Cheque facility available if an account is opened with INR 500/- and for this purpose minimum balance of INR 500/-.
2.National Savings Recurring Deposit Account
This saving is 5-Year Post Office Recurring Deposit Account (RD).Interest payable, Rates, Periodicity from 01.07.2019, interest rates are 7.2 % per annum (quarterly compounded) and on maturity INR 10/- account fetches INR 725.05 .it can be continued for another 5 years on year to year basis.
Minimum Amount for opening of account and maximum balance that can be retained INR 10/- per month or any amount in multiples of INR 5/- and No maximum limit.
3.National Savings Time Deposit Account
Post Office have national saving Time Deposit Account (TD) its gave following Interest payable annually but calculated quarterly.
Interest rates From 01.07.2019
Period Rate
1yr.A/c 6.9%
2yr.A/c 6.9%
3yr.A/c 6.9?%
5yr.A/c 7.7 %
The minimum amount taken INR 100/- for opening of account and no maximum balance limit.
4.National Savings Monthly Income Account
Post Office giving to Monthly Income Scheme Account (MIS) it have 7.6 % Interest payable, from 01.07.2019, per annum payable monthly.
Minimum Amount In multiples of INR 100/- for opening of account and maximum is INR 4.5 lakh balance that can be retained. An individual can invest maximum INR 4.5 lakh in MIS (including his share in joint accounts)
5.Senior Citizen Savings Scheme (SCSS)
This SCSS scheame for Senior Citizen it have 8.6 % Interest payable per annum, from 01.07.2019 , this amount can deposit of 31st March/30th Sept/31st December in the first instance & thereafter, interest shall be payable on 31st March, 30th June, 30th Sept and 31st December.
Minimum Amount INR.1000/- for opening of account and maximum not exceeding INR 15 lakh balance that can be retained.
6.Public Provident Fund Account
This scheame for 15 year Public Provident Fund Account (PPF )its gave 7.9 % Interest payable, per annum from 01.07.2019,
Minimum INR. 500/- Maximum INR. 1,50,000/- in a financial year.Deposits can be made in lump-sum or in 12 installments.
7.National Savings Certificates (NSC)
This Scheme National Savings Certificates (NSC) for 5 Years National Savings Certificate (VIII Issue) from 01.07.2019, interest rates are 7.9 % compounded annually but payable at maturity.
INR 100/- grows to INR 146.25after 5 years
The Minimum amount taken Rs. 100/- for opening of account and maximum balance multiples of Rs. 100/- No Maximum Limit. That can be retained.
8.Kisan Vikas Patra (KVP )
KVP Interest payable from 01.07.2019, interest rates are 7.6 % compounded annually amount Invested doubles in 113 months (9 years & 5 months).
The Minimum Amount is Rs. 1000/- for opening of account and in multiples of Rs. 1000/- No Maximum Limit.
9.Sukanya Samriddhi Accounts
The Sukanya Samriddhi Accounts interest payable 8.4 % per Annum (with effect from 01-07-2019 ),calculated on yearly basis ,Yearly compounded.This scheme for girls child only.
The Minimum Amount is take INR. 250/- for opening of account and Maximum INR. 1,50,000/- that can be retained.
