October 21, 2008, Ratekhoj.com. DBS Bank, a foreign bank operating in India, is now offering the highest interest rate for fixed deposits among all the banks in India for non-senior citizens. Union Bank of India which was earlier offering the highest interest rate for fixed deposits has reduced its interest rates thereby giving DBS Bank the status of having the highest interest bearing fixed deposit account in the country. DBS Bank is offering the highest fixed deposit rate of 11.25% for non-senior citizens. This fixed deposit rate is being offered for a term of 1 year to 2 years for fixed deposit amounts below Rs. 15 lacs.

For senior citizens, DBS Bank is offering the highest fixed deposit rate of 11.75% for a term of 1 to 2 years. Karur Vysya Bank, Lakshmi Vilas Bank, Karnataka Bank and ING Vysya Bank are all offering fixed deposit products with an interest rate of 11.50% for terms ranging between 1 and 5 years duration. City Union Bank is offering the next highest rate of 11.35% for senior citizens for a term of 400 days. Tamilnad Mercantile Bank is offering a rate of 11.30% for a term of 777 days to senior citizens.

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