# What are the Best FD Rates in India in 2021

A fixed deposit is a type of investment offered by banks and Non-Banking Financial Firms (NBFCs). When you invest in an FD, the financial institution promises to return your money and pay you interest at the end of the term, often known as the maturity period. The rate of interest offered is determined by the FD’s tenure.

Public and Private Sector Banks, NBFCs, and Post Office are some of places where you can invest in your FD and get a great FD interest rate. But before you invest, you must familiarise yourself with the FD interest rate of different financial institutions.

Here is the table containing names of Private Sector Banks along with their best FD interest rate in India (Updated on 01.11.2021).

Below is the table showing the best FD interest rate of Public Sector Banks in India (Updated on 01.11.2021).

Here is the list of the best FD interest rate In India by NBFCs (Updated on 01.11.2021).

Here is the table of the Post Office’s best FD interest rate in India (Updated on 01.11.2021).

## How to Use the FD Interest Calculator?

You can use the FD interest calculator to determine the net interest you’ll get at the end of your period. Simple Interest and Compound Interest are the two ways for calculating interest on an FD.

Simple Interest Formula: SI = P x R x T/100

This formula can be used as an FD interest calculator.

SI = Simple Interest

P = Principal (amount invested)

R = Interest Rate (in % )

T = Tenure

Compound Interest Formula: A = P (1+r/n) ^ (n * t)

A = Maturity Amount

P = Principal Amount

r = Interest Rate (in decimals)

n = The number of compoundings that occur in a year

t =  Tenure

This is also another type of formula that can be used as an FD interest calculator.

[Read More: Process to Fill SBI PO Form Online]

At some point in life everyone realises the importance of keeping finances in check. However, it becomes easier to follow one’s financial responsibility when investing in safe assets like FD.

For risk-averse individuals looking for a reliable way to grow their assets, an FD is a good choice. You can receive assured profits that are not affected by market volatility. You should always compare the interest rates offered by various providers so that you can choose the best provider.

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