Latest FD Rates 2023: Check List Of Bank Offering Highest Return On Fixed Deposits

The RBI has gradually raised the repo rates over the past few months to combat the economy's rising rate of inflation. As a result, numerous eminent Indian banks have raised their fixed deposit interest rates several times in 2023. Here, we curated the list of banks offering the current best rate.

The leading public sector lender, State Bank of India, is providing fixed deposits in the 400-day bucket at an annualised rate of 7.1 percent to retail and 7.6 percent for senior citizens.

To retail investors, the bank is offering an 8 percent interest rate and 8.5 percent for senior citizens for the 221-days FD. The bank offers highest return on FDs.

Punjab National Bank offers 7.25 percent and 7.75 percent interest rates to retail and senior citizen lenders respectively, on FDs having maturing term of 666 days.

This public sector bank offers 7.05 percent and 7.75 percent interest rates on FDs maturing in 399 days.

Bank of Maharashtra offers 7 percent and 7.50 percent for 200 days of fixed deposits.

Central Bank of India offers the second-best rate on FD. The bank gives 7.35 percent to the general public and 7.85 percent to senior citizens for FDs of 444 days.

The public lender gives 7.30 percent and 7.80 percent to the general public and senior citizens on FDs having maturing terms of 800 days.

Canara Bank offers 7.15 percent and 7.65 percent interest rates to the general public and senior citizens, respectively, on FDs of 400 days.

The bank offers 7 percent to retail and 7.5 percent interest to senior citizens on the FD of 555 days.

The bank offers 7.15 percent to retail and 7.25 percent interest to senior citizens on the FD of 666 days.

one of the leading private lenders, HDFC Bank, offers 7 Percent interest on FDs for 5 years to retail and a 7.5 percent interest rate to senior citizens for the same FD maturing term.

one of the leading lenders, ICICI bank, offers 7 Percent interest on FDs maturing over 15 months to the general public and a 7.5 percent interest rate to senior citizens for the same FD maturing term.