Saturday, April 19, 2008

Latest NRE Term Deposit Interest Rate Comparison - As of 19th April, 2008

NRE Term Deposit Interest Rate comparison as of 19th April, 2008:


Bank1-2 year2-3 year3-5 year
HSBC2.49%2.50%2.81%
ICICI2.49%2.50%2.81%
HDFC2.49%2.50%2.81%
Axis2.49%2.50%2.81%
IDBI2.49%2.50%2.81%
Barclays2.48%2.49%2.81%
PNB2.49%2.50%2.81%
Bank of India2.49%2.50%2.81%
Oriental2.49%2.50%2.81%
Canara2.49%2.50%2.81%
SBI2.49%2.50%2.81%
Dena2.49%2.50%2.81%
Yes2.49%2.50%2.81%


Given that most of the banks are offering same interest rates, what an investor needs to watch out for are:
- Minimum deposit amount
- Service Charges

Given that savings bank interest rate is 3.5%, not sure why any investor would want to lock in his/her money for lesser interest rate.

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