Latest Fixed Deposit Interest Rates in India-April-2015

Latest Bank FD Interest Rates - April-2015Latest Fixed Deposit Interest Rates in India-April-2015


Latest FD interest rates in India for April, 2015 indicate that, in the last couple of months, the majority of foreign banks, public sector banks and private sector banks have reduced the interest rates. This was as expected by us and indicated in our previous articles. Thought some banks have reduced interest rates based on RBI review last week, in coming weeks, we expect further updates from banks on reducing interest rates. What are the latest Bank FD Rates in India and how they compared to our previous article?

Based on request from some of our readers last month, we have added a few more banks for tracking their latest FD interest rates.

Positive movers in latest bank FD rates


  • Foreign banks:  No positive movement in foreign banks.
  • Private Banks: No positive movement in private banks.
  • Public Sector Banks: No positive movement in Public Sector banks.

You may also like: Latest Recurring Deposit rates in India for April 2015

Negative Movers in latest bank FD rates


  • Foreign Banks: While Citi bank has not reduced its rates, HSBC and Deutsche Bank have reduced interest rates for short term to long term fixed deposits. Interest rates are ranging between 6.75% to 8.6% per annum.
  • Private Banks: Almost all banks except for Federal Bank, HDFC Bank and Yes Bank, all others have reduced interest rates for short term, medium term and long term. Interest rates are ranging between 8% to 9.25% per annum.
  • Public Sector Banks:  Even majority of public sector banks has reduced interest rates for short term, medium term and long term Fixed deposits. Interest rates are ranging between 8% to 9% per annum.

What does this mean for investors?


As I always indicated in my previous articles, investors should park money for the long term. Foreign banks still provide lesser interest rates. The best way is to invest in bank FD schemes of public sector banks and large private banks.  

Which banks are providing higher interest rates now?


  • If you are willing to park your money in Private sector banks, you can look for Ratnakar Bank, Tamilnad Merchantile Bank, DCB, and KVB for long terms of 5+ years as they provide highest FD rates in India.
  • If you are willing to park your money in Public sector banks, you can look for Corporation bank, IOB, Punjab National Bank, Allahabad Bank and Andhra Bank which provides highest interest rates for fixed deposits.
  • If you are willing to park your money in foreign banks (in India), you can look for Deutsche Bank where they are offering 7.25% to 8.6% interest 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 article and RED indicates that the rates are reduced compared to our previous article. Myinvestmentideas.com is the only website in India, which tracks FD rates regularly and provides whether a particular bank has increased the FD rate or slashed the FD rates. This is a unique feature of our blog.

Latest Bank FD Interest Rates-April-2015; Bank Fixed Deposit Rates of April, 2015

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Suresh
Latest Fixed Deposit Interest Rates in India-April-2015

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