Bank FD Rates in India in Dec-2013
Last month, due to change in RBI monetary policy, we were expecting that banks would increase bank FD rates. Latest Bank FD rates in India indicate that there is an increase in interest rates in the last one month. While foreign banks and public sector banks increase the bank FD rates, few of private banks have reduced the rates.
- Foreign banks: Citibank has increased the FD rates for 3 to 5 year period and HSBC bank has increased it for 1-2 year FD schemes.
- Private Banks: Karnataka Bank have increased the FD rates.
- Public Sector Banks: Andhra Bank, BoI, Corporation bank, IDBI and Vijaya bank have increased the FD rates for specific tenure FD schemes.
- Foreign Banks: Citibank has reduced the FD rates for 2 year FD scheme.
- Private Banks: Yes bank and KVB has reduced the FD rates for 1-2 year time frame FD schemes.
- Public Sector Banks: No negative movement.
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's article and RED indicates that the rates are reduced comparing to our previous month's 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 FD Rates in India in Dec-2013