Bank fixed deposits, once considered one of the best investment options, lost their charm in the recent past when interest rates declined. With several other investment options available, people started putting the choice of bank term deposits (or FDs) on the backburner.
But not any more. With global financial crisis forcing banks to tighten interest rates, fixed deposits are somewhat back in demand. While making an investment, a cautious investor seeks answers to some basic queries: What are the existing deposit rates at various Indian banks? Which term deposit schemes provide best returns? Which bank has the best rate to offer? Here is a look at term deposit rates offered by some Indian banks. *1. State Bank of India * Interest rates for domestic term deposits below Rs 1 crore (Rs 10 million): *Duration * *Rates w.e.f. 08.09.2009 * 15 days to 45 days 3.00% 46 days to 90 days 4.00% 91 days to 180 days 5.25% 181 days to less than 1 year 6.00% 1 year to less than 2 years 6.50% 2 years to less than 3 years 7.00% 3 years to less than 5 years 7.25% 5 years to less than 8 years 7.50% 8 years and up to 10 years 7.75% Interest rates for domestic term deposits of Rs 1 crore (Rs 10 million) and above: *Duration * *Rates w.e.f. 15.06.2009** * 7 days to 14 days 1.50% 15 days to 30 days 2.00% 31 days to 45 days 2.25% 46 days to 90 days 2.50% 91 days to 180 days 3.00% 181 days to 270 days 4.00% 271 days to less than 1 year 4.50% One Year & above 5.00% *Image: *State Bank of India http://business.rediff.com/slide-show/2009/sep/17/slide-show-1-perfin-term-deposits-check-out-what-banks-have-on-offer.htm --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
