Interest rates have stabilized now and are expected to go up in the coming months. Not sure why anyone would want to lockin the money for long term in fixed deposits at such low interest rates. Consider corporate fixed deposits, mutual funds or stocks for better returns. 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, 2009:
Bank
|
| 6 months
| 1 year
| 2 year
| 3 year
| 4 year
| 5 year
|
HSBC
|
| 3.90%
| 5.50%
| 5.50%
| 5.50%
| 5.50%
| 5.50%
|
ICICI
|
| 6.00%
| 6.25%
| 7.00%
| 7.50%
| 7.50%
| 7.75%
|
HDFC
|
| 6.00%
| 6.50%
| 7.00%
| 6.00%
| 6.00%
| 6.00%
|
Axis
|
| 6.00%
| 6.50%
| 7.10%
| 7.10%
| 7.00%
| 7.00%
|
IDBI
|
| 5.75%
| 6.50%
| 7.00%
| 7.25%
| 7.00%
| 7.50%
|
Barclays
|
| 4.75%
| 6.25%
| 7.00%
| 7.25%
| 7.25%
| 7.25%
|
PNB
|
| 5.50%
| 6.50%
| 6.75%
| 7.00%
| 7.00%
| 7.00%
|
BOI
|
| 5.75%
| 6.50%
| 6.50%
| 6.50%
| 6.50%
| 6.50%
|
Oriental
|
| 5.50%
| 6.50%
| 6.75%
| 7.00%
| 7.00%
| 7.00%
|
Canara
|
| 5.50%
| 6.25%
| 6.75%
| 7.00%
| 7.00%
| 7.00%
|
SBI
|
| 5.25%
| 6.00%
| 6.50%
| 6.50%
| 6.50%
| 7.25%
|
Dena
|
| 5.50%
| 6.50%
| 6.75%
| 7.00%
| 7.00%
| 7.00%
|
BOR
|
| 5.75%
| 6.75%
| 7.00%
| 7.25%
| 7.25%
| 7.50%
|
IndusInd
|
| 6.25%
| 7.25%
| 7.25%
| 7.75%
| 7.75%
| 7.75%
|
Yes
|
| 6.00%
| 6.50%
| 7.10%
| 7.10%
| 7.00%
| 7.00%
|
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.
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