Interest rates have come down significantly. HDFC, Barclays, HSBC and SBI have already lowered interest rates. There are very few banks offering above 10% interest rate. This is also going to be for a short duration. Interest Rates will come down more for the next 1-2 months. For Senior Citizens, there is additional 0.25% to 1% more depending on the bank. Comparison of Latest Resident/NRO Bank Fixed Deposit Interest Rates - As of 12th December, 2008:
|
Bank
| 6 months | 1 year | 2 year | 3 year | 4 year | 5 year | |
| HSBC | 7.00% | 8.00% | 8.25% | 8.25% | 7.50% | 7.50% | |
| ICICI | 7.50% | 10.50% | 10.50% | 9.50% | 9.50% | 9.50% | |
| HDFC | 8.25% | 9.50% | 9.00% | 9.00% | 9.00% | 9.00% | |
| Axis | 7.75% | 11.00% | 10.00% | 10.00% | 8.50% | 8.50% | |
| IDBI | 9.50% | 10.25% | 10.50% | 10.00% | 9.50% | 9.50% | |
| Barclays | 8.75% | 9.00% | 9.75% | 9.75% | 9.75% | 9.75% | |
| PNB | 8.50% | 10.50% | 10.50% | 10.00% | 9.75% | 9.75% | |
| Bank of India | 8.75% | 9.75% | 9.75% | 9.75% | 9.75% | 9.75% | |
| Oriental | 7.75% | 10.00% | 10.10% | 10.10% | 9.50% | 9.50% | |
| Canara | 8.00% | 10.00% | 10.00% | 10.00% | 9.75% | 9.75% | |
| SBI | 8.00% | 9.50% | 9.50% | 10.00% | 9.25% | 9.25% | |
| Dena | 8.00% | 9.75% | 9.75% | 9.75% | 9.25% | 9.25% | |
| IndusInd | 11.00% | 11.00% | 9.10% | 11.00% | 9.10% | 9.10% | |
| Yes | 10.50% | 10.75% | 10.75% | 10.00% | 10.00% | 10.00% |
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