Latest Interest Rates on Fixed Deposits (Updated as of 18th August 2011)

Recent series of interest rate hikes by Reserve Bank of India has increased the cost of funds for the banks and they are compelled to increase their fixed deposits rates to attract funds.  Since 1^st August 2011, the last update carried out by Bachhat on interest rates on fixed deposits, total of 25 banks out of 52 banks tracked by Bachhat have raised interest rates on fixed deposits.  Retail investors are now able to earn double digit returns for duration as short as one year.  

Given below are the top five interest rates on fixed deposits offered by bank for the duration of ‘six months to less than one year’and for ‘one year to less than twelve months’ period.

Banks	6 to < 12 months
Dhanlaxmi Bank	10.00
Federal Bank	10.00
South Indian Bank	10.00
Syndicate Bank	9.75
Corporation Bank	9.50
Standard Chartered Bank	9.50

Banks	1 to < 2 years
Lakshmi Vilas Bank	10.50
City Union Bank	10.40
Tamilnad Mercantile Bank	10.25
Ratnakar Bank	10.00
Karur Vyasa Bank	10.00

For the complete listing of interest rates on fixed deposits offered by all banks, click here.

Footnote:  Bachhat has been updating interest rates on fixed deposits biweekly since May 2011.  Top 5 banks offering highest interest rates for all tenures are highlighted as well as those banks which have revised the interest rates since last update.  In this respect, we would like to seek your feedback on the usefulness of this data and improvement to be carried out to make it more user friendly.  Looking forward to your comments and suggestions.