Bank Fixed Deposit Interest Rates in India-Feb-2014
In the last 2-3 months, Bank fixed deposits have lost shine due to several tax free bonds, which offered similar interest rates which is tax free. Latest bank fixed deposit interest rates in India indicate that there is an increase in interest rates in some of the Public sector banks and reduction of interest rates in foreign banks.
- Foreign banks: HSBC has increased the FD rate for a 2 year tenure.
- Private Banks: Kotak bank increase the rates for 1 year FD and Karnataka Bank raised interest rates for a 5 year FD scheme.
- Public Sector Banks: Bank of Baroda, Repco Bank and UBI has increased the FD rates for specific tenures.
- Foreign Banks: Citibank and Deutsche Bank have reduced FD rates for specific tenure. Citibank generally offers the lowest interest rates among foreign banks.
- Private Banks: No negative movement.
- Public Sector Banks: Repco bank, which has been offering the highest FD rates in public sector banks, have reduced the rates for 1 and 2 years.
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 best investment ideas blog.
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Bank Fixed Deposit Interest Rates in India
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