Best Fixed Deposit Rates April 2019: Up to 8.5%*

With interest rates rising, it’s an excellent time to lock in a high-yield fixed deposit for your savings. Here’s a comprehensive guide to the best fixed deposit rates available in April 2019:

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Why Fixed Deposits?

Fixed deposits offer several benefits, making them a popular investment option:

Guaranteed Returns: Unlike mutual funds or stocks, fixed deposits offer guaranteed returns, protecting your principal investment.
Higher Returns than Savings Accounts: Fixed deposits typically offer higher returns than traditional savings accounts, providing better growth potential.
Low Risk: Fixed deposits are considered a low-risk investment, as your principal is guaranteed.

Current Best Rates

As of April 2019, the Reserve Bank of India (RBI) has set the repo rate at 6.0%. This has led to an increase in fixed deposit rates offered by banks and financial institutions. Some of the best fixed deposit rates for April 2019 include:

best fixed deposit rate april 2019

Bank	Tenure	Interest Rate
HDFC Bank	1-5 years	Up to 8.0%*
ICICI Bank	1-3 years	Up to 7.75%*
Axis Bank	1-5 years	Up to 7.50%*
Kotak Mahindra Bank	2-5 years	Up to 8.25%*
State Bank of India (SBI)	1-5 years	Up to 7.25%*

Tips and Tricks

Compare Rates: Shop around and compare rates offered by different banks to get the best deal.
Consider Tenure: The tenure of the deposit will impact the interest rate. Longer tenures typically offer higher returns.
Break Deposits Early: Most banks allow you to break fixed deposits early, but you may have to pay a penalty fee.
Tax Implications: Interest earned on fixed deposits is taxable as per your income tax slab.

Common Mistakes to Avoid

Investing in Too Short a Tenure: Consider your financial goals when choosing a tenure. Too short a tenure may not provide substantial returns.
Ignoring Interest Rate Changes: Interest rates can fluctuate, so be aware of any changes and adjust your investments accordingly.
Premature Withdrawals: Breaking fixed deposits early can result in penalty fees and loss of interest.

Pros and Cons of Fixed Deposits

Pros:

Guaranteed returns
Higher returns than savings accounts
Low risk
Tax benefits

Cons:

Fixed interest rates
Limited liquidity
Penalty fees for early withdrawals

Conclusion

Fixed deposits offer a stable and reliable investment option with guaranteed returns. By following the tips and tricks outlined above, you can maximize your earnings and achieve your financial goals. Compare rates, consider your tenure, and be aware of the tax implications to make informed decisions. With the best fixed deposit rates available in April 2019, now is an excellent time to invest in your financial future.

Additional Information

Table 1: Best Fixed Deposit Rates for Senior Citizens

Bank	Tenure	Interest Rate
HDFC Bank	1-5 years	Up to 8.5%*
ICICI Bank	1-3 years	Up to 8.25%*
Axis Bank	1-5 years	Up to 8.00%*
Kotak Mahindra Bank	2-5 years	Up to 8.75%*
State Bank of India (SBI)	1-5 years	Up to 7.75%*

Table 2: Best Fixed Deposit Rates for Corporates

Bank	Tenure	Interest Rate
HDFC Bank	1-5 years	Up to 7.75%*
ICICI Bank	1-3 years	Up to 7.50%*
Axis Bank	1-5 years	Up to 7.25%*
Kotak Mahindra Bank	2-5 years	Up to 7.50%*
State Bank of India (SBI)	1-5 years	Up to 7.00%*