I could not provide latest bank FD interest rates in last couple of months. In last 2 months, there is decrease in Bank fixed deposit interest rates in India. Still there are several banks which are providing highest interest rates. Investors can compare and invest in highest return FD schemes. Which are those positive movers in bank FD rates ? Which are those still providing good interest rates now in Dec-2015? I would provide latest bank FD rates, its comparison and the ones where one can invest to get highest returns.
Positive movers
- Foreign banks: HSBC has increased 3 year FD interest rates to 7.25%.
- Private Banks: No positive movement in private banks.
- Public Sector Banks: No positive movement in public sector banks.
Also Read: Which are the high return small saving schemes in India?
Negative Movers
- Foreign Banks: Deutsche Bank has reduced 1 to 5 years FD Rates. Citibank has reduced 1 to 3 years FD rates and HSBC has reduced 1 year FD rate to 6.25%.
- Private Banks: Almost all banks except for Ratnakar Bank have reduced bank FD rates for short term to long term. Ratnakar Bank has reduced only for its 1 year FD rates keeping remains rates as constant. Interest rates are ranging between 7.25% to 9% per annum.
- Public Sector Banks: All public sector banks has reduced interest rates for short term, medium term and long term Fixed deposits. Interest rates are ranging between 7% to 8% 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 foreign banks (in India), you can look for Deutsche Bank where they are offering 6.75% to 8.75% interest rates.
- If you are willing to park your money in Private sector banks, you can look for Ratnakar Bank, DCB, Tamilnad Merchantile Bank, KVB, Lakshmi Vilas Bank, etc., 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 Repco Bank, Andhra Bank, Allahabad Bank, Bank of Baroda, SBH which provides highest interest rates for fixed deposits of 5+ years.
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.
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Suresh
Latest Bank FD Interest Rates in India-Dec-2015
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