Interest rates have started to climb up. The bank fixed rates are still low considering the inflation. It is best to invest for a short term FD as the interest rates are expected to move up further. 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 2nd September, 2010:
Note: This post will be updated atleast every fortnight, so bookmark this post for comparison between interest rates offered by different banks. Also, leave your comments if you find this useful.
Bank
| 6 months | 1 year | 2 year | 3 year | 4 year | 5 year | |
| HSBC | 6.70% | 7.60% | 7.25% | 7.40% | 7.40% | 7.50% | |
| ICICI | 6.00% | 7.00% | 7.50% | 7.75% | 7.75% | 7.75% | |
| HDFC | 5.75% | 7.00% | 7.50% | 7.50% | 7.50% | 7.50% | |
| Axis | 6.25% | 7.10% | 7.35% | 7.35% | 7.00% | 7.00% | |
| IDBI | 6.50% | 7.25% | 7.50% | 7.75% | 7.75% | 7.75% | |
| Barclays | 6.35% | 6.75% | 7.75% | 8.00% | 8.00% | 8.00% | |
| PNB | 6.00% | 7.00% | 7.00% | 7.25% | 7.25% | 7.50% | |
| BOI | 6.00% | 7.00% | 7.25% | 7.25% | 7.25% | 7.25% | |
| Oriental | 6.00% | 7.00% | 7.00% | 7.50% | 7.25% | 7.50% | |
| Canara | 5.75% | 7.00% | 7.00% | 7.25% | 7.25% | 7.50% | |
| SBI | 6.00% | 6.75% | 7.00% | 7.25% | 7.25% | 7.50% | |
| Dena | 5.75% | 7.00% | 7.00% | 7.25% | 7.25% | 7.25% | |
| BOR | 6.00% | 7.00% | 7.50% | 7.75% | 7.75% | 7.75% | |
| IndusInd | 6.25% | 7.50% | 7.75% | 7.75% | 7.75% | 7.75% | |
| Yes | 6.50% | 7.25% | 7.75% | 7.75% | 7.75% | 7.75% |
Note: This post will be updated atleast every fortnight, so bookmark this post for comparison between interest rates offered by different banks. Also, leave your comments if you find this useful.
The interest rates have gone down a lot from 10% to 8.5%. How much is it expected to go down?
ReplyDeleteThis is a great comparison and gives a good snapshot of the interest rates. It helped me make my decision quickly.
ReplyDeleteI think the interest rates will go down till end of 2009 after which it would stabilize.
Never thought companies are giving 9% return of FDs. Not to mention 10% return from KTDFC.!! Good stuff!
ReplyDeleteWe think the interest rates would stabilize early next year - till then it may just be way down!
ReplyDeleteBy the way, thanks for all the comments!
ReplyDeleteHold on tight... Rates are a finicky thing and often are like the tail wagging the dog
ReplyDeleteWhen do you think it will start picking up?
ReplyDeleteUse your brain. Don't deposit in Banks. Deposit in Post Office Monthly Income Schemes, which fetches flat 8% interest for 6 years with advantage of 5% bonus at the end of maturity. The risk is at the minimum of the minimum. Why you people go for always Bank for interest earning.
ReplyDeletePaapi,
ReplyDeletePost Office MIS us a good investment avenue. However, the interest rates are expected to move up next year. The investor can choose to invest in a 7% bank FD for a year and then invest at a better rate for a longer term next year.
Look at this link for more details: http://bestinvestments4u.blogspot.com/2010/05/fixed-income-securities.html