Bank fixed deposits are deposits that are safe, though they do not offer tax benefits like others. Most of the public sector banks like State Bank of India, Union Bank of India are offering interest rates hovering around 9 per cent on a fixed deposit for 1-2 years. Here are some banks that are offering higher interest rates above 9 per cent.
BOI gives interest between 9 - 9.20 per cent
Bank of India offers an interest rate between 9.05 - 9.20 per cent for fixed deposits between 1-2 years. This is a government owned bank and hence default chances are minimal.
Dena Bank offers a high interest rate between 9-9.25 per cent
The interest rate offered by Dena Bank on fixed deposits for 1-2 years is 9-9.25 per cent. Like Bank of India this is a government owned bank and hence the deposits are safe.
IDBI's interest rate is quite high between 9-9.30 per cent
On fixed deposits for 1-2 years IDBI Bank offers interest rate of 9 - 9.30 per cent. This again is a government owned bank.
Interest rate of ING Vyasya falls in the bracket of 9-9.25 per cent
ING Vysya Bank offers 9 - 9.25 per cent interest rate on fixed deposits of 1-2 years. This is a reputed private sector bank.
Corp Bank's interest rate of 9-9.11 per cent is also high.
Corporation Bank offers an interest rate of 9 - 9.11 per cent on deposits for 1-2 years. This is a reputed government owned bank with strong presence across the country.
DCB offers interest rates in the high range of 9 -9.25 per cent
DCB Bank is another bank that offers an interest rate of 9 - 9.25 per cent on fixed deposits of 1 -2 years. It is also a private sector bank which offers quite a high interest rate.
Indusind's interest of 9.25 per cent is also high.
Indusind Bank is offering a high interest rate between 9 - 9.25 per cent for fixed deposits of 1-2 years. Is is also a private sector bank that offers a high rate of interest.