Update: March 19th 2011
Here is a list of 20 bank interest rates of Indian banks. These are applicable from Jan 10th 2011, and the banks may change this anytime, so this list may not be up to date. Each bank name is linked to the website of the bank and clicking it will land you on the page which has the latest deposit rates. Click that to ensure that the data you are viewing is up to date.
Most banks have laid out terms which are not very easy to compare from one to another, and so I have taken the rates which I found on most websites. Most of these rates are for deposits of under Rs. 15 lakhs.
I stopped at 20 because each bank has listed out its terms differently and I wasn’t happy with the bank interest rate comparison chart that follows. Treat this as a sort of a rough comparison chart of interest rates offered by Indian banks.
Update: Despite its limitations and lot of people found this page useful, so I decided to include a few more banks and provide you a list of 30 banks here.
| S.No. | Bank | 1 Year to < 2 years | 2 Years to < 3 years | 3 Years to < 5 years | More than 5 |
| 1 | Allahabad Bank | 8.75% | 8.50% | 8.50% | 8.00% |
| 2 | Andhra Bank | 9.25% | 8.50% | 8.60% | 8.00% |
| 3 | Axis Bank | 9.25% | 8.50% | 8.50% | 8.50% |
| 4 | Bank of Baroda | 9.35% | 9.00% | 8.50% | 8.50% |
| 5 | Bank of India | 9.25% | 8.25% | 8.25% | 7.00% |
| 6 | Bank of Maharashtra | 8.30% | 8.60% | 8.60% | 8.30% |
| 7 | Canara Bank | 9.10% | 9.25% | 8.75% | 8.75% |
| 8 | Central Bank of India | 9.25% | 8.75% | 8.80% | 8.80% |
| 9 | Dena Bank | 9.00% | 9.00% | 9.00% | 8.75% |
| 10 | HDFC Bank | 8.50% | 9.25% | 8.25% | 8.25% |
| 11 | ICICI Bank | 9.25% | 9.25% | 8.75% | 8.75% |
| 12 | IDBI Bank | 9.25% | 9.25% | 9.00% | 9.00% |
| 13 | Indian Bank | 9.50% | 8.50% | 8.50% | 8.00% |
| 14 | Indian Overseas Bank | 9.25% | 8.75% | 9.00% | 9.00% |
| 15 | Indus Ind Bank | 9.00% | 8.75% | 9.50% | 8.75% |
| 16 | J&K Bank | 9.50% | 8.75% | 8.50% | 8.50% |
| 17 | Karnataka Bank | 9.75% | 9.50% | 9.25% | 8.75% |
| 18 | Karur Vysya Bank | 10.25% | 9.75% | 9.00% | 9.00% |
| 19 | Kotak Bank | 9.25% | 9.40% | 9.25% | 9.25% |
| 20 | PNB | ||||
| 21 | Punjab and Sind Bank | 9.55% | 9.60% | 9.05% | 8.75% |
| 22 | South Indian Bank | 9.75% | 8.75% | 8.75% | 8.25% |
| 23 | State Bank of Hyderabad | % | 9.25% | 8.75% | 8.75% |
| 24 | State Bank of India | 8.75% | 9.25% | 8.25% | 8.50% |
| 25 | State Bank of Patiala | 9.00% | 9.75% | 8.50% | 8.50% |
| 26 | State Bank of Travancore | 9.50% | 9.60% | 9.25% | 9.00% |
| 27 | Syndicate Bank | 9.25% | 9.25% | 9.00% | 8.60% |
| 28 | UCO Bank | 9.00% | 8.50% | 8.50% | 8.00% |
| 29 | Union Bank of India | 8.60% | 9.25% | 8.75% | 9.40% |
| 30 | Vijaya Bank | 9.35% | 9.25% | 8.50% | 8.25% |
Click on the New Here page to see how you can make the best use of this site.
Update: For some time there used to another fixed deposit interest rates in India page which had a few more banks than given in this list, but now I have included all those here as well.
Click on the New Here page that tells you how to make the best use of this site.
This is very helpful for my project work. update me regularly……………
thanks
I have planned to save some amount on monthly basis. Which bank is the best in interest(ROI)? And whether i can open savings account or i can put the amount in Fixed deposit?
any update on nri interest rates
krishna
I did that a few days ago. Here is the link to that post:
http://www.onemint.com/2010/04/06/nri-interest-rates-nre-rates/
Let me know if you have any feedback.
update me regularly
Sangeetha, you can subscribe to the free daily updates via email. You can find the place to do that on the top right of this screen.
Hi
Canara Bank is offering interest rate of 9.5% for residents and 10.5% for senior citizen… I dont know how the old the above rates are
Some korean bank offering 8 & 8.5 % FD rate within two year of time .
is there any way u can do the same report for nri interest rate wih the same banks. whic wil be useful for all NRIS.
regards
ramesh
Yes, I can do such a report. It will take a bit of time, but I will try and compile this data.
hi can someone update the same… i wanted to know the bank which offers the highest interest rate. is that SBI or ICICI or other ?/
Updated – for now anyway.
great work
Please update me regularly
keep updating …and post more …thanks
Thanks for your comparison statement , All the banks may be included for well justify.
THANKING YOU
RPS
Heyyy,
Thanks for this info
It really ,really helped me for my ASSIGNMENT \
THANK YOU.
Keep it up
Can u give comparison of interest for Housing Loan and Car Loan of major banks india.
thankls
this information is really helpful for me. i am little bit cnfuse about the interest rate after 2-3yrs
Thanks, please update the rates regularly.
thax it totally helped for my interview
HEY THIS WAS REALLY HELP FULL FOR MY PROJECT,TNX FOR THIS INFORMATION
I was under the same assumption that you were Pawan, and was quite surprised to see these results after I had compiled them.
A thing worth mentioning is that sometimes an in between period fetches a higher rate of interest.
So, if you click on the HDFC link, and scroll down, you will see that for 2 years 16 days they offer 7.25% and then 2 years and 17 days upwards is 6%. That sounds unusual, but I don’t know why that happens.
Hi Manshu,
Though i am not too sure what actually could be the reason for that, but possible that the banks expect the RBI to change the rate structure after a certain period and hence discourage lending for longer period at a higher rate. Banks would not want to pay their older customers a higher rate for their deposits when banks themselves have to pay higher rate to RBI. (concepts of CRR, repo n reverse repo affect the structure of interest rates banks offer)
So may be thats the reason, no trend and no proportionate relation.
Hmmm …. confusing comparsion (alright … you’ve already mentioned to use it roughly !). Any idea why is there no definite pattern in the interest rates vs periods, i believe that more the lock-in period, the higher should be the interest but that’s not always true. What are the other factors ?
Regards,
Pawan
Dear Pawan,
The reason is asset-liability mismatch. Where bank wants to match the the assets with the liabilities, bank start giving higher intt rates.