Highest 1-Year FD Rates: Comparing the interest rates provided by various banks is advised if you intend to open a fixed deposit (FD) with one of them. Even a slight variation can increase your savings, even though the interest rates offered by the majority of banks on term deposits are comparable. For example, you will earn ₹5,000 more a year if you obtain an additional 50 basis points on an FD of ₹10 lakh. Additionally, you will save an additional 15,000 if you lock the FD for three years.
Top 7 Banks with the highest 1-Year FD Rates:
1. SBI (State Bank of India): The biggest lender in the nation, gives senior citizens and regular citizens, respectively, 7.20 and 6.7% interest rates on one-year fixed deposits. These rates are going to take effect tomorrow, April 15.
2. ICICI Bank: This private bank gives senior persons 7.2 percent and regular residents 6.7 percent.
3. HDFC Bank: The biggest private bank gives seniors and regular people, respectively, 7.10 and 6.60 percent on their one-year fixed deposits. The rates were effective as of April 1, 2025.
4. Kotak Mahindra Bank: For one-year fixed deposits, this private bank provides 7.10 and 7.60 percent to both general and senior residents. The effective date of these rates was April 9, 2025.
5. Federal Bank: For one-year fixed deposits, this bank gives general and senior residents 7.5 and 7 percent, respectively. The effective date of these tariffs was January 10, 2025.
6. Bank of Baroda: This bank gives its one-year fixed deposits (FDs) 6.85 percent to the general public and 7.35 percent to the elderly.
7. Union Bank of India: According to rates that went into effect on January 1, 2025, this state lender offers 6.8% to regular residents and 7.3% to senior citizens.
With interest rates varying across financial institutions, choosing the right fixed deposit can significantly impact your short-term returns. These 7 banks currently offer some of the most attractive 1-year FD rates, making them ideal options for those seeking secure, high-yield investments. However, always compare terms, check for additional benefits, and assess your financial goals before locking in your deposit. A smart choice today can mean better savings tomorrow.
Disclaimer: The sole purpose of this article is to inform and raise knowledge regarding Fixed deposits and banking requirements, such as Fixed Deposits, credit cards, and Loans. For any detailed information, do contact a SEBI-registered investment advisor for any investment-related information.
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