Bank deposits interest rates have been on the decline, with Bank of Baroda being the latest to slash interest rates on its fixed deposits. As interest rates on bank deposit drops, here is a look at 7 attractive bank deposits, which are the highest in their category among the reputed Indian Banks.
There are quite a few reasons to like the ING Vsya Bank Deposit. The first is that the interest rate at 9.25 per cent on a 1000 day deposit or a deposit from 1-2 years makes it the best in the sector. The second is that there is no penalty on pre-mature withdrawal. A good bet for those looking at higher returns from bank fixed deposit interest rates.
Karur Vysya Bank Fixed Deposit
A deposit above three years at Karur Vysya Bank carries an interest rate of 9.25 per cent, making it amongst the highest from Indian banks. A relatively safe bet for a slightly longer trem fixed deposit.
Deutsche Bank Fixed Deposit
The Indian subsidiary of the German Deutsche Bank gives an interest rate of 9.25 per cent on a 5 year deposit. This is a large foreign bank and hence the deposits can be considered as very safe.
Corporation Bank Fixed Deposit
For a deposit of three years and three months Corporation bank gives you an interest rate of 9.11 per cent. For this tenure the interest rates are the highest amongst government owned nationalized banks. The deposits are relatively safe on account of the bank being a government owned entitity.
Yes Bank Fixed Deposit
For a 18 months 18 days deposit, yes Bank is offering an interest rate of 9.10 per cent. This is again among the highest for this tenure. The Bank has a strong pedigree and is the 3rd largest private bank in the country.
Bank of India Fixed Deposit
Bank of India gives you an interest rate of 9.05 per cent on various tenures of deposits ranging from 1 year to 8 years. Again, a government owned nationalized bank which makes the deposits very safe.