Interest rates are falling and falling fast. We have gathered a list of 8 banks that still offer you pretty decent interest rates as compared to others. Here is a list of reputed banks with the highest and best fixed deposit interest rates.
It is extremely difficult to get 8 per cent interest rates in bank deposits today. Ratnakar Bank is offering an interest rate of 8 per cent on a tenure of 12 months to less than 24 months. This is pretty decent when compared to government owned banks, which are at best offering 7.5 per cent.
Standard Chartered Bank
This is a foreign bank and once again pretty rare to see them offering such high interest rates. For a period ranging from 376 -390 days, Standard Chartered is offering an interest rate of 7.95 per cent.
The interest rates of DCB Bank are marginally lower than that of Standard Chartered Bank. You get an interest rate of 7.90 per cent on deposits ranging from 24 months to 36 months time period. The one good thing is that given the fact that these are 2-3 years deposits, you are saved from falling interest rates.
Lakshmi Vilas Bank
The interest rate on Lakshmi Vilas bank 18 months to less than 5 years is 7.90 per cent. Senior citizens are entitled to an extra 0.50 per cent, taking their rates to 8.40 per cent.
Again, the deposits are more of a long term duration.
SVC Cooperative Bank offers an interest rate of 7.90 per cent on its 366 day deposit. Senior citizens would be entitled to an interest rate of 8.05 per cent. This is pretty competitive when compared to peers.
The deposit rates on IndusInd Bank is 7.75 per cent for a tenure of 1 year to below 1 years 2 months. This is among the best from the larger private sector banks in the country.
State Bank of Patiala
This is the best interest rate that you will get from a SBI subsidiary. For 1 year to 555 day deposit you get an interest rate of 7.57 per cent.
Other govt banks are offering the highest interest rate of 7.5 per cent. This is not very good compared to where interest rates were a year back.