Indian Bank Deposit Rates

3/31/2022

ilacconquo1983.netlify.com › ★ Indian Bank Deposit Rates ★

Now this is plain and simple. People are attracted to those banks that offer high rates of interest. Irrespective of the deposits offers, Indian banks are recognized as the best and the safest option to go with. Depositing in SBI or any other nationalized banks are not considered a very good option by many. Some offer 8% or 8.5% for your money while some other offers deposit interest rates up to 10%. Though the variation might seem very small, even a minor difference of 0.5% interest rate will fetch you around Rs.500 more per year. This way over the years your hard earned money will increase in figure. Therefore, whenever you plan on depositing your money, make sure you deposit it with higher rate of interest.

Chase Bank
Indian Bank Deposit Rates Comparison
Bank Deposit Rates In Philippines
Indian Bank Deposit Rates Latest

For Non-Resident Indian, the benefits of making NRE Deposits are awesome. NRI gets a waiver on income tax as whatever money you sent from abroad is considered income tax-free plus the interest you can bag.

Indian Bank established on 15th August 1907 as part of the Swadeshi movement. ISS certified Standard ISO very few Banks certified worldwide. The tenure can range from 7 days up to 180 days. The minimum deposit is Rs.1,000 but no maximum limit. Senior citizens get an additional interest rate of 0.5% for deposits of up to Rs.10 crore, bank staff get 1.00% for deposits up to Rs.2 crore, and bank ex-staff who are senior citizens get 1.50% on deposits of up to Rs.10 crore.

Indian Bank FCNR FD Interest Rates (as on 03 Mar 2021). The FCNR FD interest rates on currency like USD, GBP, EUR,AUD, CAD, YEN. FCNR Fixed deposit depends on term deposit for example 1 year, 2 years or upto 5 years you deposit your money and your choice between different banks. If the deposit has remained in force for more than 1 year, interest will be calculated at the rate applicable for the period the Deposit has actually remained with the Bank less 0.25%. Additionally, in case of pre-mature withdrawal of FCNR (B) deposits, SWAP (conversion) cost will be recovered, basis the prevailing market rates on the date of. The Indian Bank offers short-term deposit for a minimum of 7 days to a maximum of 1 year. At present, the maximum interest rate for short-term deposit by Indian Bank is 5.15%.

We have come up with the top 10 banks that offer the highest Deposit interest rates in the NRE/ NRI Fixed deposit sector. Read along:

1. Catholic Syrian Bank (CSB)

Catholic Syrian Bank or CSB has been an active part of the banking business for more than 93 years now. This Phenomenal Scheduled bank offers an NRE interest rate of 10.1% for a period of 3- 5 years.

2. ICICI Bank

ICICI is the largest private bank in India and offers an interest rate of up to 9.5% for an NRE Deposit for 3-5 years.

3. Federal Bank

Federal Bank is known for offering the highest NRE Fixed deposit interest rates for 1111 days at 10% for any NRE Deposit.

4. South Indian Bank (SIB)

SIB offers 10% interest rates for an NRE FD for 3 long years.

5. Karnataka Bank

Karnataka Bank offers 9.5% interest rate for an NRE FD for 3-5 years.

6. IDBI

IDBI offers 9.5% rate of interest in the NRE sector for 3-5 years.

Chase Bank

7. Lakshmi Vilas Bank (LVB)

Lakshmi Vilas Bank gives away an interest rate of 9.5 % for 1 year for NRI citizens in the NRE Fixed deposit sector.

8. Dhanalakshmi Bank (DLB)

Dhanalakshmi Bank has a 9.5% fixed interest rates on NRE Deposit for 3-5 years to offer.

9. Tamilnadu Mercantile Bank (TMB)

Tamilnadu Mercantile Bank offers 9.5% interest rates in the NRE fixed deposit sector for 1 year.

10. Karur Vysya Bank (KVB)

Karur Vysya Bank gives away an interest rate of 9.5% for1-2 years.

Note: The list above is just to make you aware about the best options available. The interest rates offered by these banks might however change from time to time. Again, outside of these, there are many other banks that offer better interest rates for a high value deposit, probably above 1 crore. Daily quotes are also provided to give you better returns on your money.