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.
it appears this is not updated.
Yours is a very informative article. Request you to collate similarly the bank interest rates revised wrt 1 August 2011
Thank you – will update shortly – most likely this coming weekend.
can u give me the rate of interest on the various bank accounts
Hi All,
Those who are interested to park in their money for a shorter period, here a good one.
The Greater Mumbai Bank offers 10.5% for Senior Citizens for 180 days and 10.6% for 360 days tenure.
Corporation bank also offers good returns. Check it out.
You have misssed out Yes bank in the list which always offers higher intrtest rates presently offering intrest rate @ 9.60 %
Here’s another website with interest rates of most of the Indian banks. The advantage here is you get to see all the terms available for each of the banks on a single page.
http://bangaloremaps.blogspot.com/2008/06/bank-fixed-deposit-rates-in-india.html
pleas give me detals of FD and home loan rates of intrest
Details are fixed deposit is what the article is all about 🙂
I want to deposit 20,00,000 for a period of 12-60 months in bank.
Can anyone please tell which bank will be better to deposit money for short period.
Thanks,
Rajesh
Hi All,
I want to deposit 150000 for a period of 3-6 months in bank.
Can anyone please tell which bank will be better to deposit money for short period.
Thanks,
Geetha R.
Plz keep me posted of your articles.
The best way to do that is to subscribe to the daily email by clicking on this link:
http://feedburner.google.com/fb/a/mailverify?uri=onemint/feed
here not given all bank details such as coprative bank and some other bank please give me all banks details in fixed deposits what is the interest………………
Anuj – It’s already quite difficult to maintain this list, and I won’t be adding any more banks to this. I have tried to cover all the major banks that people will be interested in, but if you want data on co-operative banks you will have to look elsewhere.
can any 1 pls briefly explain why the int rate falls down for no.of yrs.
Interest rates are brought down to make it easier for people to borrow and give a boost to the economy. They are increased when inflation is rising and the central bank wants to control spending in the economy.
At least one bank interest rate I found wrong. Canara bank is offering 9.5% for 8 years
At least now i get some good rate, if is 10.5% it will good, like me who is an NRI
just wanted to let you know – canara bank is now giving 9.5% for 8-10 years and it is 10.5% for senior citizens. for senior citizens looking for long term , it is much better than the 9% rate offered by govt of india on SCSS.
take a look at http://www.canarabank.com/English/scripts/DepositAccounts.aspx
Thanks for that info. I’ll update the post.
You have done a very good work. This helps in making a good investments.
B.M.Rastogi
thanks
Banks have enhance the interests rates again. Please update this.
I am senior citizen. I want gate the maximum benefits.
Thanks.
B.M. Rastogi
i think this post has got the most updated rates till now. i will check out a little later in the week if there are banks who have updated them.
HI
I wants to know comparition of bank Fixed Deposit Rate ofr lee than 15 Lakhs & above 15 Lakhs also Senoir Citizen Benifit
Senior citizens get 0.5% extra so you can figure that out easily. I’ll see if there is an easy way for me to include more than 15 lacs also, as that becomes difficult to update and keep track of.
Hi,
Can some one do the top 1o highest rates in FD Term Deposits interest rates comparison, So any one can ref the same save web search Time.
Thanks,
Milind Gaidhani
Milind – Here is a post on some of the best fixed deposit interest rates currently offered.
http://www.onemint.com/2011/01/14/banks-with-high-interest-rates-on-fixed-deposits/