HDFC Bank

With effect from November 02, 2013, the private sector lender is offering an interest rate @ 8.25% on NRO term deposit with a maturity term of 91 days to less than 6 months 1 day. While for a deposit with a higher maturity term of3 years 1 day - 5 years, the bank offers 8.75%.

State Bank of India

For a maturity term of 61 days to 179 days, on a deposit of less than Rs. 1 crore, SBI is offering a return of 7.5% while for higher deposits over Rs. 1 crore it offers 7.75%.

For maturity tenure in the range of 2 years and 10 years, for deposits below Rs. 1 crore, bank
w.e.f November 1, 2013 is offering 9% while for higher deposits over Rs. 1 crore offers 8.5%.

Canara Bank

3. he bank offers return on NRO deposits at par with domestic term deposits for all maturities. Deposits below Rs. 1 crore for a maturity term of 61-90 days would fetch an investor a return of 7.5% p.a while for the higher deposit amount over Rs. 1 crore with the same maturity, investor will be entitled to a return of 7.75%. On a higher maturity term of 3 years to 10 years, on bulk deposits, investor will gain a return of 8.75%.

Oriental Bank of Commerce

With effect from November 4, 2013, OBC is offering an interest rate @ 8.50% and 8.75% respectively for maturity term of 46-90 days and 3 years to less than 5 years on deposits less than Rs. 1 crore. On bulk deposits of Rs. 1 crore and above, for similar maturity term, OBC offers interest rate @ 8.25% and 8.75% respectively.

HSBC Bank

Yielding higher post-tax returns in India, NRO term deposits is ceratinly a better bet in comparison to NRO or NRE savings or current account. For deposits below Rs. 1crore, for a shorter maturity term of 90-93 days, an investor can realize a return of 7.50% while for a higher maturity tenure of 732 days to less than 36 months, the bank offers 7.75%.