Wednesday, September 3, 2008

Latest Bank FD Interest Rates - As of 3rd Sep, 2008

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Interest Rates have risen after the increase in Rates by the RBI last week. 10% is offered by lot of banks for different term period. Comparison of Latest Resident/NRO Bank Fixed Deposit Interest Rates - As of 3rd September, 2008:

Bank 6 months1 year2 year3 year4 year5 year
HSBC 7.00%9.50%9.75%9.75%7.50%7.50%
ICICI 7.50%10.00%10.00%9.50%9.50%9.50%
HDFC 8.25%10.00%10.00%9.50%9.50%9.50%
Axis 7.75%10.00%10.00%9.00%8.50%8.50%
IDBI 8.50%10.00%10.00%9.50%9.25%9.25%
Barclays 7.50%9.50%8.75%9.00%9.00%9.00%
PNB 8.00%9.75%9.75%9.75%9.50%9.50%
Bank of India 7.50%9.50%9.60%9.60%9.50%9.50%
Oriental 7.75%10.05%9.75%9.75%9.50%9.50%
Canara 8.25%9.75%9.75%9.75%9.50%9.50%
SBI 8.50%10.00%10.00%9.75%9.75%9.75%
Dena 8.00%9.75%9.75%9.75%9.25%9.25%
IndusInd 8.75%10.00%9.10%9.10%9.10%9.10%
Yes 9.00%10.00%10.00%9.50%8.50%8.50%

5 year or more deposits also qualify for tax rebate under section 80C. 9.75% from Bank of India is the best deal to get good investment return with tax benefit. For Senior Citizens, there is additional 0.25% to 1% more depending on the bank.
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