Bestfd is a product from Apna Khata - a neobanking start up for customers in India. We are a deposit marketplace and assist you to find the best FD product for your needs. You can compare FD's on things like - Duration and whether you want to reinvest interest etc. We show you FD's from all players - Private Bank, PSU bank, NBFC's and corporates/companies.
A few words about how we show information on this website:
The default interest rates we show on our homepage are for a normal person and NOT for a senior citizen. It's a common practice to lure you by showing the maximum possible interest rate which only applies to a senior citizen. We do not follow this practice. Our default interest rates do not consider senior citizen. If you are a senior citizen, you can add about 0.25% to the interest rates which we show or alternatively use our FD calculator and click on the "senior Citizen" button to know the exact interest rate which would apply to you.
We do not use jargons like cumulatives or effective interest rates or Yields. It's our endeavour to simplify financial terms for you.Instead of Cumulative or non cumulative we simply ask you whether you want to reinvest the interest in your FD. We do this by putting a checkbox on the FD calculator. It's checked by default, as this will give you a higher payout amount Yield is another term which is used to confuse the users. We don't use the term "Yields" on FD on this website. Typically yields are used in addition to interest rates and will be higher to interest rates. We suggest you ignore Yields and stick to a basic question before buying an FD : What is the interest rate for the duration I am interested in.
Another thing to note is that the interest does not depend on the Amount you want to invest( upto 2 Crore). This is as per RBI's regulation. You can read more about RBI's regulations on FD's here
You may have heard the maxim - If you invest for long term, you will get a higher interest rate. This also does not apply to FD's.
Only FD's provided by Bank is regulated by RBI. Also a word of caution - do not blindly assess a FD by considering ONLY its Risk rating. The rating companies have had an interesting last 12 years. Please evaluate an FD product on multiple parameters.
The FD rates we show apply for an amount less than 2 crore and for customers who are not senior citizens. For senior citizens, each Financial institution offers an additional 0.25 - 0.5 % interest.
Apna Khata is founded by Priyank Sharma . We are a start up and so will make mistakes. In case you see a software bug or incorrect information or would want to change how we write things, you can directly write to us at firstname.lastname@example.org. If you are not the email types and prefer talking to a human, you can directly call us at +91 9769 51 8325. Please note that only FD provided by Bank is regulated by RBI.