It’s still possible to get interest rates of over 9.00% for your fixed deposits even though fixed deposit rates have been cut by banks repeatedly over the last several months.

Banks offering over 9.00% currently for non-senior citizens include City Union Bank, Development Credit Bank, Tamilnad Mercantile Bank, State Bank of Indore, Catholic Syrian Bank, South Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Lakshmi Vilas Bank, Dhanalakshmi Bank and State Bank of Travancore. Among these banks only State Bank of Indore and State Bank of Travancore are public sector banks while the rest are private sector banks. The highest rate among all banks in India for fixed deposits is currently offered by City Union Bank. This rate of 9.50% is offered for a term of 3 years.

As compared to these banks, the highest interest rate offered by State Bank of India currently is only 8.25% for non-senior citizens.

For senior citizens, the highest interest rate for fixed deposits currently offered by City Union Bank. This rate of 10.00% is offered for a term of 3 years. Karnataka Bank, Dhanalakshmi Bank and City Union Bank are also offering an interest rate of 9.75% and there are several banks offering an interest rate of 9.50% for different terms.

Comparison of fixed deposit rates at Ratekhoj can help you maximize your fixed deposit investment returns.

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