Here is a list of 20 bank interest rates of Indian banks. These are applicable from March 24th 2010, 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.
| 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 | 6.25% | 6.75% | 7.00% | 7.25% |
| 2 | ICICI Bank | 6.75% | 7.25% | 7.50% | 7.75% |
| 3 | HDFC Bank | 6.75% | 7.25% | 7.50% | 7.50% |
| 4 | Canara Bank | 6.50% | 6.75% | 7.00% | 7.00% |
| 5 | Axis Bank | 6.60% | 7.10% | 7.00% | 7.00% |
| 6 | PNB | 6.50% | 6.75% | 7.00% | 7.00% |
| 7 | Andhra Bank | 6.50% | 7.00% | 7.00% | 7.00% |
| 8 | Bank of Baroda | 6.50% | 7.00% | 7.00% | 7.00% |
| 9 | State Bank of Hyderabad | 6.50% | 6.75% | 7.00% | 7.25% |
| 10 | State Bank of Patiala | 6.75% | 6.75% | 7.00% | 7.25% |
| 11 | State Bank of Travancore | 7.00% | 7.25% | 7.25% | 7.50% |
| 12 | Allahabad Bank | 7.00% | 7.00% | 7.25% | 7.50% |
| 13 | Bank of India | 6.50% | 6.50% | 6.50% | 6.50% |
| 14 | Bank of Maharashtra | 6.50% | 6.50% | 7.00% | 7.00% |
| 15 | Central Bank of India | 6.50% | 7.00% | 7.25% | 7.25% |
| 16 | Dena Bank | 6.50% | 6.75% | 7.00% | 7.00% |
| 17 | IDBI Bank | 7.00% | 7.50% | 7.50% | 7.50% |
| 18 | Indian Bank | 6.75% | 7.00% | 7.25% | 7.00% |
| 19 | Syndicate Bank | 6.25% | 6.50% | 7.00% | 7.25% |
| 20 | Kotak Bank | 6.50% | 6.75% | 6.75% | 6.75% |
I did a more comprehensive list, which can be found in my page about fixed deposit interest rates in India.
Ratings:
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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.
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.
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 ?/
Updated – for now anyway.
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.
Some korean bank offering 8 & 8.5 % FD rate within two year of time .
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.
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.
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?
This is very helpful for my project work. update me regularly……………
thanks
HI,INFORMATION PROVIDED BY U IS TOO GOOD BUT IT WILL BE REALLY HELPFUL TO ME IF U PROVIDE RATE OF INTEREST ON RECURRING DEPOSITS OF VARIOUS BANKS.
i am a student , i seek about the rate of interest
The interest rate does not move in tandem with tenors at times because of many reasons. One of these reason could be Banks specific Asset Liability mismatch i.e. its inflows by way of repayments of loans and outflows through maturing Fds etc. in addition to other many other factors like requirement of funds for maintaining CRR / SLR / Capital Adequacy Ratio over the Reporting periods etc. Trust this clarifies the issue to some extent.
please send me mails every time when there is a change in interest rates both private and nationalised banks including public limited companies interest rates
Thanks in advance
pls let me know the rate of interests from 1st april 1996 to 31st march 2010
pls let me know Fds rate of interests from april 1995 to march 2010
Is the above list applicable as on today too??or there is some correction to it.
Please reply ASAP.
Thnx in advance.