Top 1-year FD rates: Get 8.05% interest on FDs maturing in a year; check full list of banks
There are still some private sector banks left which continue to offer high interest rates on fixed deposits for retail depositors investing below Rs 3 crore. Given below is a list of banks which are offering up to 8.05% interest on FDs maturing in one year. This interest rate is for general citizens.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} Here's the full list of banks offering up to 8.05% interest on FDs for one-year tenure for individuals less than 60 years of age and for fixed deposits less than Rs 3 crore.
Bandhan Bank FD rate
Bandhan Bank is offering a 8.05% interest rate to general citizens on its FDs maturing in one year.IndusInd Bank FD rate
IndusInd Bank is offering a 7.75% interest rate to general citizens on its FDs maturing in one year.RBL Bank FD rate
RBL Bank is offering a 7.5% interest rate to general citizens on its FDs maturing in one year.
Finance
Financial Literacy for Non-Finance Executives
By - CA Raja, Chartered Accountant | Financial Management Educator | Former AVP - Credit, SBI
Entrepreneurship
Building Your Winning Startup Team: Key Strategies for Success
By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience
Web Development
Intermediate C++ Skills: Master Pointers, Structures and File Stream
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital Marketing Masterclass by Pam Moore
By - Pam Moore, Digital Transformation and Social Media Expert
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Advanced C++ Mastery: OOPs and Template Techniques
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
ChatGPT Mastery from Zero to Hero: The Complete AI Course
By - Metla Sudha Sekhar, IT Specialist and Developer
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
Crypto & NFT Mastery: From Basics to Advanced
By - CA Raj K Agrawal, Chartered Accountant
Web Development
Master RESTful APIs with Python and Django REST Framework: Web API Development
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
AI and Generative AI for Finance
By - Hariom Tatsat, Vice President- Quantitative Analytics at Barclays
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
By - Metla Sudha Sekhar, IT Specialist and Developer
Entrepreneurship
Boosting Startup Revenue with 6 AI-Powered Sales Automation Techniques
By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience
Web Development
Advanced Java Mastery: Object-Oriented Programming Techniques
By - Metla Sudha Sekhar, IT Specialist and Developer
Astrology
Vastu Shastra Course
By - Sachenkumar Rai, Vastu Shashtri
Artificial Intelligence(AI)
Learn InVideo AI: Create Videos from Text Easily
By - Prince Patni, Software Developer (BI, Data Science)
Marketing
Modern Marketing Masterclass by Seth Godin
By - Seth Godin, Former dot com Business Executive and Best Selling Author
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator
Entrepreneurship
Marketing & Sales Strategies for Startups: From Concept to Conversion
By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience
Data Analysis
Learn Power BI with Microsoft Fabric: Complete Course
By - Prince Patni, Software Developer (BI, Data Science)
Web Development
C++ Fundamentals for Absolute Beginners
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Intermediate Java Mastery: Method, Collections, and Beyond
By - Metla Sudha Sekhar, IT Specialist and Developer
Office Productivity
Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital Marketing Masterclass by Neil Patel
By - Neil Patel, Co-Founder and Author at Neil Patel Digital Digital Marketing Guru
Legal
Complete Guide to AI Governance and Compliance
By - Prince Patni, Software Developer (BI, Data Science)
Entrepreneurship
Crafting a Powerful Startup Value Proposition
By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience
Karnataka Bank FD rate
Karnataka Bank is offering a 7.25% interest rate to general citizens on its FDs maturing in one year.Similarly YES Bank is also offering an interest rate of 7.25% on its FD maturing in one year.
DCB Bank FD rate
DCB Bank is offering a 7.1% interest rate to general citizens on its FDs maturing in one year.Kotak Mahindra Bank is also offering a 7.1% interest rate to general citizens on its FDs maturing in one year.
Bank nameInterest rateBandhan Bank8.05%IndusInd Bank7.75%RBL Bank7.50%Karnataka Bank7.25%YES Bank7.25%DCB Bank7.10%Kotak Mahindra Bank7.10%Source: paisabazaar.com as of December 4, 2024
How is FD interest taxed
According to the Ujjivan Small Finance Bank website as of December 5, 2024, "Interest income from fixed deposits is fully taxable and should be reported under the head 'Income from Other Sources' in your Income Tax Return. Regarding the taxation on fixed deposit interest, banks deduct tax at source (TDS) at the time of crediting interest to your account if the amount of interest exceeds Rs 40,000 for regular depositors and Rs 50,000 for senior citizens. The minimum TDS applicable on FD interest is 10%. It is important to note that the FD interest tax is deducted at the time of credit and not when the FD matures."When is TDS deducted from bank FDs
According to the Ujjivan Small Finance Bank website, "TDS (Tax Deducted at Source) is a taxation mechanism through which tax is deducted from certain payments made to individuals. In the case of fixed deposits, the taxation on fixed deposit interest involves banks deducting TDS at a rate of 10% if the interest income exceeds Rs 40,000 (Rs 50,000 for senior citizens). For example, if you earn an FD interest of Rs 50,000, the bank would deduct an FD interest tax of Rs 5,000 and deposit it to the government. When filing your Income Tax Return, it is necessary to report the entire interest earned and claim the TDS deducted as a refund. It is important to note that if your total income is less than Rs 2.5 lakh, no TDS will be deducted. To avoid TDS on your FD interest in case you don't fall under the minimum tax bracket, you can submit Form 15G or 15H to the bank to claim interest income without TDS."#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
This story originally appeared on: India Times - Author:Faqs of Insurances
