Interest Rate on FD for 2 Year 2022

The highest interest rate is offered by Equitas Small Finance Bank (for 2 years) at 8.75% and Fincare Small Finance Bank (for 2 years) at 8.75% followed by Suryoday Small Finance Bank (for 2 years) at 8.50%.

BankMaturity Period Interest Rate (p.a.)Calculate
Abu Dhabi Commercial Bank2 Years7.25%
Indusind Bank2 Years6.00%
Yes Bank2 Years6.00%
Dcb Bank Limited2 Years5.50%
Tamilnad Mercantile Bank Limited2 Years5.50%
Bandhan Bank Limited2 Years5.50%
Axis Bank2 Years5.40%
Standard Chartered Bank2 Years5.40%
Federal Bank2 Years5.35%
The Nainital Bank Limited2 Years5.35%
South Indian Bank2 Years5.35%
City Union Bank Limited2 Years5.25%
Karur Vysya Bank2 Years5.25%
Indian Overseas Bank2 Years5.20%
Jammu And Kashmir Bank Limited2 Years5.20%
Laxmi Vilas Bank2 Years5.15%
Idbi Bank2 Years5.15%
Kotak Mahindra Bank Limited2 Years5.15%
Dhanalakshmi Bank2 Years5.15%
Allahabad Bank2 Years5.10%
State Bank Of Travancore2 Years5.10%
Bharatiya Mahila Bank Limited2 Years5.10%
Andhra Bank2 Years5.10%
State Bank Of Bikaner And Jaipur2 Years5.10%
Syndicate Bank2 Years5.10%
Karnataka Bank Limited2 Years5.10%
Canara Bank2 Years5.10%
State Bank Of India2 Years5.10%
Indian Bank2 Years5.10%
State Bank Of Mysore2 Years5.10%
Union Bank Of India2 Years5.10%
Corporation Bank2 Years5.10%
State Bank Of Patiala2 Years5.10%
Punjab And Sind Bank2 Years5.05%
Bank Of India2 Years5.05%
United Bank Of India2 Years5.00%
Dena Bank2 Years5.00%
A B Bank Limited2 Years5.00%
Punjab National Bank2 Years5.00%
Catholic Syrian Bank Limited2 Years5.00%
Vijaya Bank2 Years5.00%
Icici Bank Limited2 Years5.00%
Bank Of Baroda2 Years5.00%
Uco Bank2 Years5.00%
Central Bank Of India2 Years5.00%
Oriental Bank Of Commerce2 Years5.00%
Hdfc Bank2 Years4.90%
Bank Of Maharashtra2 Years4.90%
Dbs Bank Ltd2 Years4.75%
Idfc Bank Limited2 Years4.75%
Deustche Bank2 Years4.25%
Chinatrust Commercial Bank Limited2 Years3.90%
Hsbc Bank2 Years3.50%
Citi Bank2 Years3.00%
B N P Paribas2 Years2.30%
Disclaimer: The Fixed Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD. Source: Bank Websites

About Fixed Deposit

Bank FD is a very popular investment instrument for Indians. It provides assured returns. It is very safe and easy to open account for the customers. FDs tenure ranges from 7 days to 120 months. Banks are free to offer interest rates as decided by them for different tenures.

Through bank FD, you can think of achieving your long term financial goal. The reasons behind it are, first it offer better interest and if you reinvest the amount for long time then it will help you achieve your financial goals. Secondly, it provides fixed rate of interest.

Fixed Deposit Features

  • Maximum Investment Amount: No such limit
  • Interest Rates Variable: From 7 to 9% based on term
  • Interest earned is taxable: Yes
  • Lock in Period: No
  • Tenure: 2 Years
  • Maturity Value: Taxable
  • Premature Withdrawals: Entire amount, anytime but after charging a certain penalty
  • Risk: Risky as compared to PPF

Factors Affecting FD Interest Rate

Age of Investor

If the age of investor exceed 60 years i.e. when he/ she becomes a senior citizen then he/ she will be offered higher interest rate as compared to normal investor who is below 60 years of age. Senior citizen usually get 0.50% more interest rate by the bank on FD. Some banks offer more also.

Tenure of Investment

FD Tenure is a period for which the FD is opened. FD interest rate depends upon tenure of FD. You can open an FD for a period from 7 days to 10 years. The rate of interest varies on the basis of FD's tenure. Usually, higher interest is offered on longer tenure FDs.

Economic Conditions

Current economic conditions have a significant effect on the interest rates on FDs. Whenever the country is developing, its economy is growing and the credit demand is high. During such times, banks make FDs more attractive by offering higher rate of interest on FDs.

Policy Rate of the RBI

Fiscal policy along with monetary policy affect the interest rates on FDs. Cash Reserve Ratio (CRR) and Repo Rate variation have an impact on the interest rates of fixed deposits (FDs).