Catholic Syrian Bank

The Kerala based Catholic Syrian Bank is offering the highest interest rates among the reputed names in the banking sector. The interest rate for a 12-24 month deposit is 9.65 per cent per annum. Interest earned is tax free.

South Indian Bank

The South Indian Bank is offering an interest rate of 9.60 per cent for a 15 month deposit. The rates on other tenures are lesser then the 15 month tenure.

Tamil Nad Mercantile Bank

The Tamil Nad Mercantile Bank is offering an interest rate on its NRE deposits of 1-2 years at 9.50 per cent. The 3 year to 10 year duration attracts a lesser interest rate of 9.25 per cent.

Punjab and Sind Bank

Among the public sector banks, the NRE deposits of Punjab and Sind Bank attract the highest rate of interest at 9.25 per cent for a 500 day deposit.

Union Bank of India

Union Bank of India is offering an interest rate of 9.25 per cent on a 7 year 7 month deposit for its NRE deposit account. Union Bank of India is a well established public sector bank.