Interest rates have shot up after staying low for a long time. SBI was the first bank to raise interest rates and other banks have followed suit. We would still recommend investors to invest in FDs only for a year or so as the interest rates are expected to go 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 17th December, 2010:
Bank
|
6 months
|
1 year
|
2 year
|
3 year
|
4 year
|
5 year
| |
HSBC
|
6.50%
|
7.55%
|
7.90%
|
8.00%
|
8.05%
|
8.05%
| |
ICICI
|
6.50%
|
7.75%
|
8.00%
|
8.25%
|
8.25%
|
8.25%
| |
HDFC
|
6.50%
|
7.75%
|
8.25%
|
8.25%
|
8.25%
|
8.25%
| |
Axis
|
6.25%
|
8.25%
|
7.75%
|
7.75%
|
7.00%
|
7.50%
| |
IDBI
|
7.25%
|
8.15%
|
8.25%
|
8.75%
|
8.60%
|
8.60%
| |
Barclays
|
6.85%
|
7.50%
|
7.80%
|
8.10%
|
8.10%
|
8.10%
| |
PNB
|
7.00%
|
8.00%
|
8.25%
|
8.50%
|
8.25%
|
8.50%
| |
BOI
|
6.50%
|
8.25%
|
8.25%
|
8.25%
|
7.25%
|
7.25%
| |
Oriental
|
7.25%
|
8.00%
|
8.25%
|
8.75%
|
8.50%
|
8.50%
| |
Canara
|
7.25%
|
8.25%
|
8.25%
|
8.60%
|
8.25%
|
8.25%
| |
SBI
|
7.25%
|
7.75%
|
8.25%
|
8.50%
|
8.25%
|
8.50%
| |
Dena
|
7.50%
|
8.25%
|
8.25%
|
8.25%
|
8.25%
|
8.25%
| |
BOR
|
6.50%
|
7.75%
|
8.00%
|
8.25%
|
8.25%
|
8.25%
| |
IndusInd
|
8.00%
|
8.75%
|
8.50%
|
8.75%
|
8.50%
|
8.50%
| |
Yes
|
7.25%
|
7.75%
|
8.00%
|
8.25%
|
8.25%
|
8.25%
|
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