Here is a list of 20 bank interest rates of Indian banks. These are applicable from June of 2009, 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 comparison chart that follows. Treat this as a sort of a rough comparison chart.
| S.No. | Bank | 1 Year to < 2 years | 2 Years to < 3 years | 3 Years to < 5 years |
More than 5 |
| 1 | State Bank of India |
7.00% |
7.25% |
7.25% |
7.75% |
| 2 | ICICI Bank |
7.25% |
7.75% |
7.75% |
8.25% |
| 3 | HDFC Bank |
6% |
7.25% |
6.00% |
6.00% |
| 4 | Canara Bank |
7.25% |
7.50% |
7.50% |
8.00% |
| 5 | Axis Bank |
7.30% |
7.60% |
7.25% |
7.25% |
| 6 | PNB |
6.50% |
7.00% |
7.50% |
7.00% |
| 7 | Andhra Bank |
7.25% |
7.25% |
7.25% |
7.25% |
| 8 | Bank of Baroda |
7.00% |
7.00% |
7.00% |
7.00% |
| 9 | State Bank of Hyderabad |
7.25% |
7.25% |
7.25% |
7.75% |
| 10 | State Bank of Patiala |
7.50% |
8.00% |
8.00% |
|
| 11 | State Bank of Travancore |
7.25% |
7.50% |
7.50% |
8.00% |
| 12 | Allahabad Bank |
8% |
8.25% |
8.25% |
8.25% |
| 13 | Bank of India |
7.00% |
7.00% |
7.00% |
7.00% |
| 14 | Bank of Maharashtra |
7.50% |
7.50% |
7.50% |
7.50% |
| 15 | Central Bank of India |
7.50% |
7.50% |
7.50% |
8% |
| 16 | Dena Bank |
7.25% |
7.25% |
7.50% |
7.50% |
| 17 | IDBI Bank |
7.50% |
7.75% |
7.75% |
8.25% |
| 18 | Indian Bank |
7.50% |
7.75% |
7.50% |
|
| 19 | Syndicate Bank |
7.50% |
7.75% |
8.00% |
7.75% |
| 20 | Kotak Bank |
7.00% |
7.00% |
7.00% |
7.00% |
Ratings:
{ 13 comments… read them below or add one }
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
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.
HEY THIS WAS REALLY HELP FULL FOR MY PROJECT,TNX FOR THIS INFORMATION
thax it totally helped for my interview
Thanks, please update the rates regularly.
this information is really helpful for me. i am little bit cnfuse about the interest rate after 2-3yrs
Can u give comparison of interest for Housing Loan and Car Loan of major banks india.
thankls
Heyyy,
Thanks for this info
It really ,really helped me for my ASSIGNMENT \
THANK YOU.
Keep it up
Thanks for your comparison statement , All the banks may be included for well justify.
THANKING YOU
RPS
keep updating …and post more …thanks
Please update me regularly
great work
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 ?/