Bank fixed deposits regained their lost glory during the hardening of interest rates. So much so that they even scored over government saving schemes. However, taking a cue from recent government policies, banks have been slashing the deposit rates for the last few months. Bankers attribute this trend to surplus liquidity in the system as well as lower credit offtake. Whatever be the case, term deposit schemes have still not lost their attraction, particularly in view of the lack of good investment options in the market.
Here we take a look at the latest bank deposit rates of some leading banks:
1) State Bank of India
a. Interest rates for domestic term deposits below Rs 1 crore:
Here we take a look at the latest bank deposit rates of some leading banks:
1) State Bank of India
a. Interest rates for domestic term deposits below Rs 1 crore:
| Duration | Revised Rates w.e.f. 08.09.2009 |
| 15 days to 45 days | 3.00% |
| 46 days to 90 days | 4.00% |
| 91 days to 180 days | 5.25% |
| 181 days to less than 1 year | 6.00% |
| 1 year to less than 2 years | 6.50% |
| 2 years to less than 3 years | 7.00% |
| 3 years to less than 5 years | 7.25% |
| 5 years to less than 8 years | 7.50% |
| 8 years and up to 10 years | 7.75% |
b. Interest rates for domestic term deposits of Rs 1 cr & above:
| Duration | Revised Rates w.e.f. 15.06.2009 |
| 7 days to 14 days | 1.50% |
| 15 days to 30 days | 2.00% |
| 31 days to 45 days | 2.25% |
| 46 days to 90 days | 2.50% |
| 91 days to 180 days | 3.00% |
| 181 days to 270 days | 4.00% |
| 271 days to less than 1 year | 4.50% |
| One Year & above | 5.00% |
2) Bank of India
The bank has revised interest rates w.e.f. 03.08.2009 on domestic rupee term deposits of less than Rs 15 lakh, Rs 15 lakh & above but less than Rs 1 crore for various maturity buckets.
| Maturity | For deposits less than Rs15 lakh | For deposits of Rs15 lakh and above but less than Rs 1 crore |
| 07 days to 14 days | 2.50% | 2.50% |
| 15 days to 30 days | 2.75% | 2.75% |
| 31 days to 45 days | 3.00% | 3.00% |
| 46 days to 90 days | 4.00% | 4.00% |
| 91 days to 179 days | 5.00% | 5.00% |
| 180 days to 269 days | 6.00% | 6.00% |
| 270 days to 364 days | 6.25% | 6.25% |
| 1 year to less than 2 years | 6.50% | 6.50% |
| 2 years and above | 6.50% | 6.50% |
3) HDFC Bank
Interest rates for regular fixed deposits below Rs 15 lakh:
| Maturity Period | Revised Rates w.e.f. 18.05.2009 |
| 15 - 29 days | 2.25% |
| 30 - 45 days | 3.00% |
| 46 - 60 days | 3.50% |
| 61 - 90 days | 3.75% |
| 91 days to less than 6 months 1 day | 4.50% |
| 6 months 1 day - 6 months 15 days | 5.50% |
| 1 year 17 days - 2 years | 6.00% |
| 2 years 17 days - 3 years | 6.00% |
| 3 years 1 day - 5 years | 6.00% |
| 5 years 1 day - 10 years | 6.00% |
4) ICICI Bank
Interest rates for domestic term deposits:
| Maturity Period | Deposit of less than Rs 15 lakh w.e.f. August 1, 2009 |
| 7 days to 14 days | N.A. |
| 15 days to 29 days | 3.00% |
| 30 days to 45 days | 3.00% |
| 46 days to 60 days | 3.50% |
| 61 days to 90 days | 3.50% |
| 91 days to 120 days | 5.25% |
| 121 days to 180 days | 5.25% |
| 181 days to less than 1 year | 6.00% |
| 1 year to 389 days | 6.50% |
| 390 days | 6.75% |
| 391 days to 589 days | 6.50% |
| 990 days | 7.75% |
| 991 days to less than 3 years | 7.00% |
| 3 years to less than 4 years | 7.50% |
| 4 years to less than 5 years | 7.50% |
| 5 years up to 10 years | 8.00% |
5) HSBC India
Interest rates for domestic / Non-Resident Ordinary Rupee (NRO) term deposit accounts:
| FD Period | Interest rates effective from August 14, 2009 |
| 15 days | 2.80% |
| 30 days | 2.80% |
| 60 days | 3.25% |
| 90 days | 3.50% |
| 180 days | 3.90% |
| 270 days | 4.25% |
| 1 year | 4.25% |
| 2 years | 4.75% |
| 3 years to 5 years | 5.50% |
6) Axis Bank
Interest rates for domestic deposits:
| Period | Interest rate on deposits below Rs 50 lakh effective Aug 29, 2009 |
| 15 days to 29 days | 2.50% |
| 30 days to 45 days | 3.00% |
| 46 days to 60 days | 3.50% |
| 61 days to less than 3 months | 4.00% |
| 3 months to less than 6 months | 4.50% |
| 6 months to less than 9 months | 6.00% |
| 9 months to less than 1 year | 6.25% |
| 1 year to less than 2 years | 6.75% |
| 2 years to less than 3 years | 7.30% |
| 3 years to less than 5 years | 7.05% |
| 5 years up to 10 years | 7.00% |
7) Corporation Bank
The interest rates on domestic term deposits with effect from Sept 4, 2009:
| Duration | Interest rate on less than Rs 15 lakh | From 15 lakh to less than Rs 1 cr |
| 15 days to 29 days | 2.75% | 2.75% |
| 30 days to 45 days | 3.00% | 2.75% |
| 46 days to 90 days | 4.00% | 3.75% |
| 91 days to less than 6 months | 5.00% | 4.75% |
| 6 months to less than 9 months | 6.00% | 5.50% |
| 9 months to less than 12 months | 6.25% | 6.00% |
| 12 months to less than 2 years | 7.00% | 6.75% |
| 2 years to less than 5 years | 7.25% | 7.00% |
| 5 years to less than 8 years | 7.50% | 7.25% |
| 8 years and above | 7.75% | 7.25% |
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