A look at 9 bank deposits that offer you the highest interest rates in India

Published: Wednesday, September 17, 2014, 13:16 [IST]

Interest rates on bank deposits are falling. Most of the banks including the likes of State Bank of India have recently cut interest rates. Take a look at 9 bank deposits that are still offering the highest interest. We have taken only the popular private and public sector banks.

Fixed deposit from ING Vysya Bank

At 9.25 per cent interest on a fixed deposit between 366 days to 730 days, ING Vysya Bank deposits offer the highest rate amongst better known private and public sector banks. Senior citizens are offered an interest rate of 9.75 per cent.

Pretty decent interest rates

Yes Bank is offering an interest rate of 9.10 per cent on a eighteen month eight day deposit. That is the highest amongst reputed private sector banks in the country.

A good rate amount PSU banks

A 3 years to 3 years & 3 months deposit at Corporation Bank gives you an interest rate of 9.11 per cent. This is much better than most of the other public sector banks. The interest rate on other tenures of the bank is placed at around 9 per cent.

Better rates than the biggest nationalised banks

A one year deposit at UCO Bank fetches an interest rate of 9.10 per cent. The annualised yield works out to 9.41 per cent, which is pretty decent.

Another large sized govt bank

Bank of India is offering an interest rate of 9.05 per cent on its deposit above 14 months to 15 months. This is also similar to most of its peers and is higher than the larger banks in the country.

Interest rates dropped recently

A 5-year deposit at IDBI Bank gives you an interest rate of 9.05 per cent. Until recently, the interest rate was 9.2 per cent on a 500 day deposit, but, the bank recently cut interest rates.

Annualised yield of 9.36 per cent

A one year deposit at Canara Bank fetches an interest rate of 9.05 per cent. The yield works to 9.36 per cent with quarterly compounding. The interest rate on a 2-3 year deposit is also 9.05 per cent, but, the yield works to 9.80 per cent.

An interest rate of 9.05 per cent

A one year deposit at Vijaya Bank, gives you an interest rate of 9.05 per cent. The interest is higher if the deposits are between Rs 5-10 crore at 9.10 per cent.