Latest Fixed Deposit Interest Rates in India – April-2014
Latest FD rates indicate that, in the last one month, there is mixed reaction in terms of changes in bank FD rates in India. Banks have increased interest rates for long term FD’s to attract investors for long term investment. I would provide the positive and negative movements based on current bank FD rates in India for April, 2014
- Foreign banks: After a long time, I am seeing that Deutsche Bank increasing the Bank FD rates. It has increased the rates for 1 year and 5 year FD scheme.
Also Read: Top Rated Corporated Fixed Deposits schemes in India
- For short term FD, HSBC offers good interest rates. However, for long term, Deutsche Bank now offers good interest rates.
- Private Banks: In Private banks, there are mixed changes. HDFC Bank has increased interest rate on a 1 year FD scheme. Kotak Bank has increased the interest in a 5 year FD scheme.
- Lakshmi Vilas Bank, Karnataka Bank and KVB offer top interest rates for short term as well as long term FD’s.
- Public Sector Banks: Bank of Maharastra and IDBI Bank have increased the interest rates on their FD schemes. Bank of India, IDBI Bank, Vijaya Bank, BoB offers highest interest rates for short term. However, except Canara Bank, which offers 9.05% for 5 year FD, none of the public sector banks offer more than 9% interest for long term FD schemes.
- Foreign Banks: No negative movements.
- Private Banks: Federal Bank and Kotak Bank have reduced interest rate for a 1 year FD scheme.
- Public Sector Banks: Bank of Baroda, SBH and Vijaya Bank has slashed the FD rates.
Comparison of current and 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 best investments blog.
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Latest Fixed Deposit Interest Rates in India