Below is the list of top banks Term Deposit or fixed deposit (FD) rates for tenure of 6 Months – 1 Year, 1 – 2 Years, 2 – 3 Years, 3 – 5 Years and more than 5 years as of August 3, 2012.
- The best fixed deposit rates for 6 months to less than a year is offered by Central Bank of India, Corporation Bank and IDBI Bank at 9.00% per annum.
- For 1 – 2 years the highest FD rate offered is 9.75% by Development Credit Bank and Dhanlaxmi Bank.
- For 2 – 3 years the highest FD rate is 9.50% by Vijaya Bank.
- For 3 -5 years the highest fixed deposit rate is 9.35% by Bank of Maharashtra
- For more than 5 years the highest fixed deposit rate is 9.30% by Development Credit Bank
The best fixed deposit rates for each tenure have been highlighted.
|Bank||6 Months – 364 Days||1 – 2 Years||2 – 3 Years||3 – 5 Years||5 Years +|
|Bank of Baroda||6.75-7.50||8.75-8.85||8.75||8.50||8.00|
|Bank of India||8.00-8.25||9.25||9.00||9.00||9.00|
|Bank of Maharashtra||7.00-8.80||9.30||9.30||9.00-9.35||9.00|
|Central Bank of India||8.25-9.00||9.00||8.75||8.75||8.50|
|Development Credit Bank||6.75||8.00-9.75||8.00-9.30||8.00-9.30||8.00-9.30|
|Indian Overseas Bank||8.00-8.50||9.25||9.25||9.25||9.00|
|Kotak Mahindra Bank||7.50-8.75||9.25-9.40||9.00-9.25||9.00||9.00|
|Oriental Bank of Commerce||8.50||9.25||9.25||9.25||9.00|
|State Bank of India||7.25-7.50||9.00||9.00||8.75||8.75|
|The Federal Bank||7.00-8.50||9.00-9.25||9.00||9.00||9.00|
|Union Bank of India||8.60-8.75||9.25||9.25||9.25||8.50-9.40|
All the Rates are in % per annum. Rates for deposits up to Rs. 15 lakhs.
Source: Bank Websites
Updated: August 03, 2012
Disclaimer: All care has been taken to update the correct interest rates being offered by banks, but it keeps on changing frequently. So, its a good idea to check with the respective bank before making any investment.