04 May 07 Highest Fixed Deposit Interest Rate
With the interest rates offered by Indian banks on fixed deposits crossing the double digit mark, I wanted to park a part of my savings in Fixed deposits. With Inflation in India falling and staying below the 6% mark, I feel there is not much scope for further hardening of interest rates. Hence I decided this is the right time to open a fixed deposit which is absolutely risk free (upto 1 lakh) since it is covered by DICGC. I wasn’t able to find a single source for getting the interest rates offered by various banks at a single place. After spending 2-3 hours researching on google and calling up banks for information, I found that ABN Amro is presently offering the highest interest rate for fixed deposits. They are offering 10.25% for a 188 day term deposit.
What suprised me was that many banks where offering an interest rate of just around 8.5% for the same fixed deposit. Since there is not much of a differentiation possible when it comes to fixed deposits with different banks, I started wondering who would open a fixed deposit with banks offering about 8.5% interest, when there is a player offering the same product/service, with not much tangible differentiation and is paying 10.25% interest, which is about 2% higher. It couldn’t be because they had no ABN Amro branch near their residence, because these people send their marketing agents to your house to fill up the forms and complete all the required formalities. The only reason I could think of was information barrier. Information is not reaching the people. Or can it be that people are so lazy that they wont even spend an hour researching about the interest rates offered by other banks, before they select a bank? I wonder!
For some strange reason, I just remembered the old adage, “KNOWLEDGE IS POWER and INFORMATION IS WEALTH”
I request readers to share their knowledge on fixed deposit interest rates offered by various banks and also about FMP yield through comments.
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Hi
That is quite good.
I think the highest is from Kotak Mahindra bank for 10.5 %
I a interested in knowing the easiest way to invest in FMP
thanks
Mahesh
@ Mahesh – Yes you are correct
http://www.bullishindian.com/kotak-offers-highest-fixed-deposit-fd-rate-in-india/348/
Standard Chartered offers a FD interest rate for 373 days at 10% Annualised , which I found the best of all the ones offered by well known banks.
Hi I am interested to invest in fixed deposite schemes
Hi
I want to know if there is any site which will list down all the rate of interest of Indian Banks. So that I can decide which Bank to select for FD.
Hi,
I am also a FD enthusiast.
I was also surprised to find Sundaram Finanace offering 11% in CFD (Cummulative Fixed deposit). They are also credible players in the finance market.
Hi
I want to know if there is any site which will list down all the rate of interest of all Banks. So that I can decide which Bank to select for FD.
Ya its good to invest in deposits and good for health also
ya
Poonam
ya sarojini
you can invest any amount
ok
its good to ivest today for better tomorrow ok
ya
Hi
can any of one tell me what would be the best rate for long term seposits
Ravi
Hi friends,
i heared that all of you are interested to have deposit in banks so now i am offering you a best option 11% Qty Compounding for 365 days, i am a deposit manager in a RRB Krishna Bhima Samruddhi Local Area Bank. we are the First Micro-finance bank in india. and servicing in MahabubNagar, Raichur and Gulbarga District of AP and Karnataka. so if you are interested to have deposit with bank with 100% security by DICGCI please call or write me and all the deposit process will be completed by mail and courier and no need to visit bank.
if you are interest please contact me and i will send the complete brochure to you .
thanks and regards
Anand Solanki
PRM
9346757800
9959204405
KBS LAB Ltd.
Best interest rate on FD is the one offered by Axis bank 11.75%