Where to check today's rates
Banks change FD rates often — sometimes several times a year — so the only reliable source is the bank's own interest rate page, which shows the rate for every tenure and the date it took effect. We don't list bank rates here because they would go out of date. For a fixed, government-set benchmark, see Post Office FD rates (7.5% for five years in October–December 2026).
Compare the effective yield, not just the rate
A cumulative FD that compounds quarterly earns more than its headline rate over a year:
| Headline rate | Effective yearly yield (quarterly compounding) |
|---|---|
| 6.5% | 6.66% |
| 7.0% | 7.19% |
| 7.5% | 7.71% |
| 8.0% | 8.24% |
When one bank compounds quarterly and another pays simple interest yearly, compare these yields. The FD calculator shows it for any rate.
Five ways to earn more on an FD
- Look beyond your own bank. Small finance banks often pay more; deposits there are still DICGC-insured up to ₹5 lakh.
- Pick the tenure band the bank pays most for — it is often a specific window like 15 months or 2–3 years, not the longest term.
- Ladder your deposits: split a sum into FDs maturing in 1, 2, 3 years. Some money frees up every year, and you don't lock everything at one rate.
- Use the senior citizen rate for deposits in a parent's name only if the money is genuinely theirs — interest is taxed in the depositor's hands.
- Avoid breaking FDs early: the penalty can cost more than the extra rate you chased.
Rates after tax
What you keep is the rate after tax. For someone in the 30% slab (31.2% with cess), a 7% FD gives about 4.8% after tax. That is why some people compare FDs with debt mutual funds or tax-free bonds.
Company FDs
NBFC and corporate FDs can pay 1–2% more than banks but are not insured. Check the credit rating (AAA is safest), keep amounts modest, and confirm the company is permitted to accept public deposits on our RBI NBFC check.
For general information only, not investment advice or a recommendation. Oxon Fintech is a loan facilitation platform, not a SEBI-registered investment adviser, bank or mutual fund distributor, and does not sell bonds, deposits or funds. Rates and rules are as checked on the date above; confirm with the issuer, bank or fund house before investing. Mutual fund investments are subject to market risks; read all scheme-related documents carefully.