Question 1

Why does the best bank change when I change the tenure?

Accepted Answer

Because each bank publishes a ladder of tenure bands rather than one rate, and the ladders do not line up. One bank may pay its best rate between one and two years while another peaks just past two. That is also why a tenure a few days either side of a boundary is worth testing before you commit.

Question 2

Why is a bank shown with no figure?

Accepted Answer

Because our dated card for that bank publishes no band covering your tenure, so we have no rate to quote and will not invent one. It is shown rather than hidden so you know we asked, and it is kept out of the ranking because scoring an absent rate as zero would push a bank that might be the best to the bottom of the table.

Question 3

Are these the rates I will actually get?

Accepted Answer

They are the published card rates for a cumulative deposit held to maturity, which is what the great majority of retail depositors get. Large deposits are sometimes priced individually, and rates change, so confirm with the bank before booking. The date each card was checked is in the sources below.

Question 4

Do senior citizens really get more everywhere?

Accepted Answer

Every bank here pays a senior citizen more, usually around half a percentage point, but not by the same margin at every bank or every tenure. That means the best bank for a regular depositor is not always the best for a senior, which is why the customer type is an input rather than a footnote.

Question 5

Should I just pick the highest number?

Accepted Answer

Not on a small gap. Interest is taxable at your slab rate, so a few hundred rupees before tax is less after it. Premature closure penalties, branch access, and how easy it is to book online are all real, and none of them is in this table. Use the gap here to tell a decisive difference from a trivial one.

Question 6

Why compound quarterly?

Accepted Answer

Because that is the convention all five banks use for a cumulative fixed deposit, and it is what their own maturity figures assume. A payout FD, where interest is paid out monthly or quarterly instead, does not compound and returns less over the same term.

Bank FD Rate Comparison