2 weeks ago
Bandhan Bank, IDFC First offer higher FD rates than SBI
A fixed deposit is when you let a bank hold your money for a certain amount of time.
In return, the bank gives you extra money called interest.
Some banks give more interest than others.
Bandhan Bank gives 7.45%, the highest regular rate among the three banks in this story, when you lock your money in for two years.
IDFC First Bank gives 7.25% if you keep your money for three years.
SBI gives 6.45% if you keep your money for 444 days.
If you saved ₹5 lakh, you could earn about ₹5,000 more in one year at Bandhan Bank than at SBI.
At IDFC First Bank, you could earn about ₹4,000 more than at SBI.
The bigger your savings, the bigger the difference, with a ₹10 lakh deposit widening the gap to ₹10,000 and ₹8,000.
But the highest rate is not always the best, so you should also check how long you must wait, rules for taking money out early, taxes, and that your money is insured up to ₹5 lakh.
Bandhan Bank's highest regular FD rate is 7.45% for a 2-year tenure, the highest among the three banks compared.
IDFC First Bank offers 7.25% for a 3-year deposit, while SBI's top regular rate is 6.45% for a 444-day tenure.
Bandhan Bank's top rate is 1 percentage point higher than SBI's, while IDFC First Bank's is 0.80 percentage point higher.
A ₹5 lakh deposit earns about ₹5,000 more annual interest at Bandhan Bank and ₹4,000 more at IDFC First Bank than at SBI.
The article advises investors to also weigh tenure, premature withdrawal rules, payout options, taxation and DICGC deposit insurance up to ₹5 lakh.
- Who
- Bandhan Bank, IDFC First Bank and State Bank of India (SBI), with depositors and investors as the intended readers.
- What
- A comparison of the three banks' highest regular fixed deposit rates and how much more annual interest the higher-rate banks can generate versus SBI.
- Where
- India — the comparison covers rupee-denominated deposits at Indian banks (the country is not explicitly named in the article).
- When
- Not specified in the article; the rates are presented as current regular FD offers.
- Why
- To show how much more depositors can earn by choosing higher-rate banks, while cautioning that tenure, rules, taxation and insurance coverage also matter.
Key facts
- Bandhan Bank top rate
- 7.45% for a 2-year tenure
- IDFC First Bank top rate
- 7.25% for a 3-year deposit
- SBI top rate
- 6.45% for a 444-day tenure
- Rate gap vs SBI
- Bandhan Bank +1.00 percentage point; IDFC First Bank +0.80 percentage point
- Annual interest on ₹5 lakh
- Bandhan Bank ₹37,250; IDFC First Bank ₹36,250; SBI ₹32,250
- Extra annual interest vs SBI (₹5 lakh)
- Bandhan Bank ₹5,000; IDFC First Bank ₹4,000
- Extra annual interest vs SBI (₹10 lakh)
- Bandhan Bank ₹10,000; IDFC First Bank ₹8,000
- Deposit insurance
- DICGC insures eligible deposits up to ₹5 lakh per depositor per bank











