Latest Bank Fixed Deposit (FD) interest rates in India (Sep-2013)
Latest bank FD rates indicate that there is increase in interest rates in the last 30 days. Last 4 weeks have been celebration time for investors. IIFL Bonds, REC tax free bonds and HUDCO tax free bonds have been offering high interest rates. Majority of the banks have increased interest rates for short term.
- Foreign banks: After long time, I am seeing positive moment in interest rates for Citibank and HSBC Bank. Earlier the interest rates were pathetic compared to other banks.
- Private Banks: Federal Bank, HDFC Bank, ICICI Bank and Kotak bank have increased interest rates for short term.
- Public Sector Banks: Andhra Bank now offers high interest rates of 9.5%. This is the highest in the last 1 year among all the major banks. Bk of Maharastra, Karnataka Bank, Indian Bank and SBH and other positive movers in interest rates.
- Foreign Bank: Deutsche Bank slashed the rates.
- Private Banks: No negative movements
- Public Sector Banks: Canara Bank and UBI have slashed the bank FD interest rates.
Comparison of latest bank FD interest rates among various banks in India.
The comparison list would help investors to choose the right bank for fixed deposits. Green indicates that the rates have been increased compared to our previous month article and RED indicates that the rates are reduced comparing to our previous month article. Myinvestmentideas.com is the only website in India which tracks FD rates month on month and provides whether a particular bank has increased the FD rate or slashed the FD rates. This is a unique feature of our blog.
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Latest Bank Interest Fixed Deposit (FD) rates in India