Fixed deposits & Indian fixed income
Stop settling for your bank's rate.
The same money earns very different interest depending on where it sits. Compare live rates, work backwards from what you actually need, and book with help from a real person.
Enter your current rate to see the gap.
Compared against the best 3-year rate on our board for a ₹10 lakh deposit.
Start here
Who's investing? It changes what you can actually buy.
Eligibility isn't the same for everyone. Rather than show you products you can't hold, we ask first.
What the site does
Three tools, and honest answers about all three.
The rate board
28 issuers, sortable, with credit ratings and deposit insurance shown on every row
Open the board →Goal planners
Work backwards from the outcome you need — income, education, a house, tax
Plan by goal →Ladder builder
Split across maturities and issuers so something matures every year
Build a ladder →Who holds your money
Never us. Always the bank, the NBFC, the AMC or your own demat account
How it works →Free, and genuinely useful
When does your current FD mature?
Most people auto-renew at whatever rate the bank offers that morning. Tell us the date and we'll message you three weeks before with the best rates going, so you actually choose.
✓ Saved. We'll message you three weeks before.
One message. No marketing spam.
The rate board
Every issuer, one table, with the risk shown next to the rate.
Most comparison sites show you a rate and stop. We also show the credit rating and whether the deposit is insured, because an 8.50% NBFC deposit and an 8.50% bank deposit are not the same product.
Above ₹1 crore, banks and NBFCs quote negotiated rates that are never published. Sometimes better than the card rate, sometimes worse. We'll get you live quotes from four or five issuers.
| Issuer ↕ | Type | Rate p.a. ↕ | Maturity value | Deposit safety | Credit rating |
|---|
How much of this is actually insured?
Maturity value assumes quarterly compounding on a cumulative deposit, before TDS. Actual payout depends on the issuer's terms.
Don't put it all in one deposit
Split it across maturities so you're never locked out of a better rate
Build a ladder →Not sure how much you need?
Work backwards from the outcome instead of guessing at the amount
Plan by goal →Investing from abroad?
NRE, NRO and FCNR(B) work differently, and so does the tax
NRI products →Work backwards
Most people ask "what's the rate?". The better question is "how much do I need?".
Pick what the money is for. We'll work backwards from the outcome and show you the deposit that fits — or tell you honestly when a deposit isn't the right instrument at all.
These are illustrations based on the figures you enter, not advice. Deposits rarely run beyond five years, so any goal longer than that assumes reinvestment at a rate nobody can promise.
Nobody does this for themselves
Don't put it all in one deposit for one tenure.
A ladder splits your money across several maturities. Something matures every year, so you're never locked out of a better rate and never breaking a deposit early to reach cash. It also spreads your money across issuers, which matters more than most people realise.
We'll confirm every rate with the issuer, handle the paperwork for each rung, and track the maturities for you.
For NRIs, PIOs and OCI card holders
Three account types, three completely different tax outcomes.
NRE interest is tax-free and fully repatriable. NRO interest is taxed at 30% plus surcharge unless you file a treaty claim. FCNR pays less but removes rupee risk entirely. Most people pick the wrong one because nobody explains the difference.
Interest on an NRO deposit attracts TDS at 30% plus surcharge and cess. Under most double taxation avoidance agreements that falls to 10–15% — but only if a Tax Residency Certificate and Form 10F are on file before the interest is paid. Nobody at the bank will tell you this.
Choosing between them
The rate is rarely the deciding factor.
NRE
Money remitted from abroad. Interest exempt from Indian tax, principal and interest fully repatriable, minimum one year. You carry the rupee risk — if the rupee weakens, your return in your home currency is lower than the headline rate.
NRO
For income earned in India — rent, dividends, pension. Interest fully taxable with TDS at 30% plus surcharge, reducible under a treaty. Repatriation capped at USD 1 million a year, with Forms 15CA and 15CB.
FCNR(B)
Held in foreign currency, so no rupee risk at all. Interest exempt from Indian tax and fully repatriable. Yields are lower, and RBI caps them against reference benchmarks so banks differ very little.
Which one for you?
It depends on where the money comes from, whether you'll bring it back, and your view on the rupee
Talk it through →Family offices, trusts and corporate treasuries
At this size, published rates stop being the relevant number.
Above ₹1 crore every issuer quotes individually, and the difference between a good and a bad placement is usually 40 to 90 basis points. On ₹10 crore that's ₹4 to ₹9 lakh a year for the same credit risk. Getting there means calling several treasury desks the same morning, which is the part we do.
What we actually do for a treasury
Not a rate table. A same-day comparison of live quotes, on a like-for-like basis, with the credit and concentration questions answered before you commit.
Bulk deposit placement
Negotiated quotes from banks, small finance banks and NBFC treasuries on the same day, compared like for like. Small finance banks in particular pay well above card rates for size.
Treasury laddering
Maturity ladders built around your actual cash-flow calendar rather than round tenures, with counterparty limits per issuer so no single name carries too much.
Listed debt
Corporate bonds, government securities and state development loans in institutional size, executed through a SEBI-registered broker on the exchange RFQ platform.
Private credit and funds
Where a deposit is the wrong instrument for the mandate — structured credit, AIF and PMS options, discussed on the merits rather than on what pays us.
We'll tell you what we earn on anything we put in front of you. For mandates where a fee makes more sense than commission, we'd rather have that conversation openly.
Request a treasury conversationThe questions we get asked
Three things that decide a placement, and none of them is the headline rate.
Concentration
DICGC cover stops at ₹5 lakh per bank, which is irrelevant at treasury size. What matters instead is a written counterparty limit per issuer and per rating band, and someone actually enforcing it.
Liquidity vs yield
Premature withdrawal terms on bulk deposits vary far more than retail terms, and some carry no withdrawal right at all. That clause is worth more than 20 basis points of yield.
Whether a deposit fits at all
For a corpus with a defined horizon, a target-maturity fund or a held-to-maturity bond portfolio is often more tax-efficient than a deposit. We'll say so when it's true.
Start with a conversation
Tell us the size, the horizon and your constraints. We'll come back with quotes, not a brochure
Talk to the desk →Foreign nationals and institutions
Indian deposits aren't open to you — but Indian fixed income is.
NRE, NRO and FCNR accounts are available only to non-residents of Indian origin. A foreign national or institution without that status cannot hold an Indian bank deposit, and no amount of paperwork changes that. We'd rather tell you now than after you've filled in forms.
The three routes that do work
Which one fits depends on your jurisdiction, your structure and your ticket size. It also depends on the securities laws where you live, not only on India's.
GIFT City / IFSC
India's international financial centre, regulated by IFSCA. Foreign-currency denominated products, open to non-residents without the FEMA residency tests that block domestic deposits. The practical route for most individual global investors.
FPI route
Registration as a Foreign Portfolio Investor gives access to Indian government securities and corporate bonds. Designed for institutions and pooled vehicles — the registration and custody burden rarely makes sense below a substantial ticket.
Fully Accessible Route
A specified set of Indian government securities open to non-residents without investment ceilings. Access runs through a custodian and depends on your jurisdiction and structure.
Tell us where you're based and what size you're working with, and we'll tell you honestly whether we can help — including when the answer is that we can't.
Talk to us about the global routeThe process
Four steps, and a person on the phone for the middle two.
The comparison is the easy part. The value is in confirming the rate, catching the clause nobody reads, and doing the paperwork chase so you don't have to.
STEP 01
Compare
Filter the board by amount, tenure and issuer type. You see the rate, the maturity value, the credit rating and whether the deposit is insured.
STEP 02
Tell us what you need
Share your amount, horizon and whether you need periodic income or a lump sum at the end. No documents at this stage.
STEP 03
We shortlist and check
We confirm the current rate directly with the issuer, flag the credit rating, the withdrawal terms and the tax treatment, and send you two or three options in writing.
STEP 04
Book through a regulated partner
You complete KYC and place the money with the regulated entity that holds it. We handle the paperwork and follow-up, and track your maturities afterwards.
The only question that really matters
Who actually holds your money?
Never us. That's not a policy we could change later — it's the whole structure of how we operate.
Deposits
The issuing bank or NBFC, directly. The deposit receipt is in your name and the funds move from your account to theirs.
Listed bonds & G-Secs
A SEBI-registered broker, on the exchange RFQ platform. Securities are credited to your own demat account, held in your name.
Mutual funds
The AMC, against your own folio. Units are held in your name and redemption proceeds go to your registered bank account.
FDkaro's role
Comparison, paperwork, follow-up and maturity tracking. We never take custody of money or securities, and we never ask you to transfer funds to us.
Partner names and registration numbers to be listed here before launch.
How we're paid
We'd rather tell you than have you wonder.
Banks don't pay distribution commission on deposits, so on a bank FD we earn nothing at all. On NBFC and corporate deposits we may receive commission from the issuer, and it differs between issuers. On mutual funds we receive trail commission from the AMC.
That creates an obvious conflict, and pretending otherwise would be worse than naming it. So: ask us what we earn on anything we recommend and we'll tell you the number. If we ever put a higher-commission product ahead of a better one for you, we've failed at the only thing that makes this business work.
Read the full disclosuresTalk to us
Not sure a fixed deposit is the right place for it?
For larger amounts a deposit is often not the most efficient option. Tell us the shape of the requirement and we'll come back with what fits — including things that aren't on the board.
- Laddering across tenures and issuers
- Listed corporate bonds and G-Secs
- Debt mutual funds and target-maturity funds
- Monthly income structures for retirees
- Tax treatment: interest vs capital gains
- Bulk deposit quotes for ₹1 crore and above
- NRE, NRO and FCNR(B) deposits for non-residents
- Treaty rates and TRC / Form 10F on NRO interest
- GIFT City and IFSC routes for global investors
Request a callback
We'll call within one working day. No obligation to invest.
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Your details are used only to respond to this enquiry.
Important disclosures
Read this before you act on anything on this site.
Written to be read rather than to satisfy a lawyer. If anything here is unclear, ask us and we'll explain it in plain terms.
What FDkaro is
FDkaro is a comparison and distribution platform. We do not accept deposits, hold client money, or take custody of securities. Every deposit is booked directly between you and the issuing bank or NBFC, and every listed security is credited to your own demat account.
How we're paid
Banks do not pay distribution commission on deposits, so on a bank fixed deposit we earn nothing. We may receive commission from NBFCs and corporate deposit issuers, and trail commission from asset management companies on mutual funds. Amounts differ between issuers. Ask us and we will tell you what we earn on any specific product.
This is not advice
Nothing on this site is investment advice or a recommendation. The calculators are illustrations based on figures you enter and take no account of your personal circumstances. For advice, consult a SEBI-registered investment adviser.
Calculators assume reinvestment
Fixed deposits rarely run beyond five years. Any goal longer than that assumes you reinvest at the same rate when each deposit matures. Rates will differ — possibly by a lot. Treat long-horizon figures as illustrative only.
Deposit insurance
Deposits with scheduled commercial banks and small finance banks are insured by DICGC up to ₹5,00,000 per depositor per bank, covering principal and interest together. NBFC and corporate deposits are not insured — repayment depends entirely on the issuer's financial position. For foreign-currency non-resident deposits, confirm the position with the issuing bank.
Rates change
Rates on this site are indicative and change without notice. The rate you receive is the rate applicable on the date the issuer accepts your deposit. Always confirm on the issuer's own website or application form before committing money.
Credit ratings
Ratings shown are the issuer's long-term ratings as we last recorded them, not ratings of a specific deposit or of us. Ratings are opinions, they change, and they are not a guarantee of repayment. Check the rating agency's own site for the current position.
Tax
Interest is taxable at your slab rate and subject to TDS, and accrues each year even on a cumulative deposit — so tax can fall due before you receive the money. Section 80C tax-saver deposits carry a compulsory five-year lock-in and cannot be withdrawn early or pledged. Section 80C does not apply under the new tax regime. We are not tax advisers.
Premature withdrawal
Breaking a deposit early usually attracts a penalty of 0.5–1% on the applicable rate, and some NBFC deposits cannot be withdrawn in the first three months at all. Bulk deposit terms vary far more than retail terms and some carry no withdrawal right. Check the issuer's terms before committing money you may need.
Non-resident eligibility
NRE, NRO and FCNR(B) accounts are available only to non-residents of Indian origin as defined under FEMA. Foreign nationals and institutions without that status are not eligible for Indian bank deposits, whatever the ticket size. Eligibility is determined by the bank, not by us.
US and Canada residents
Many Indian institutions restrict or decline investors who are tax resident in the United States or Canada, because of FATCA and provincial registration requirements. Acceptance varies issuer by issuer and changes without notice. Confirm before you begin any paperwork.
Currency risk
NRE and NRO deposits are held in rupees. If the rupee weakens against your home currency, your return measured in that currency will be lower than the headline rate, and can be negative. FCNR(B) deposits avoid this by holding the money in foreign currency, at a lower yield.
Your local law also applies
Nothing here is an offer or solicitation in any jurisdiction where that would require a registration we do not hold. Investing from outside India may carry consequences under the law of where you live, including reporting and tax obligations. Take local advice.
Data we collect
We use the details you submit only to respond to your enquiry and to service any placement you ask us to arrange. We do not sell your data. You can ask us to delete it at any time.
Grievances
Complaints process, escalation contact and turnaround times to be inserted here before launch, along with the relevant regulator's grievance portal for the products concerned.