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Union Bank of India offering highest fixed deposit interest rate in India | Ratekhoj.com, Best Fixed Deposits, Loans, Insurance Rates and Credit Cards


October 16, 2008, Ratekhoj.com. Union Bank of India, a public sector bank, has hiked its interest rates on October 15, 2008 and is now offering the highest interest rate for fixed deposits among all the banks in India. Union Bank is offering a interest rate of 11.50% for non-senior citizens for fixed deposit maturity terms of 9 months to 1 year as well as 1 year. It must be noted that this rate is offered only for fixed deposit amounts of Rs. 1 crore and above.

If you are interested in fixed deposit amounts below Rs. 15 lacs, DBS Bank, a foreign 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.

There are many banks offering a fixed deposit interest rate of 11.00% currently for non-senior citizens. They include ING Vysya Bank, Karur Vysya Bank, Tamilnad Mercantile Bank and City Union Bank. These rates are offered by these banks for various fixed deposit terms of between 1 and 3 years.

For non-senior citizens, among short term (maturity period of less than a year) fixed deposits, DBS Bank is offering a interest rate of 10.75% for terms of 181 days to 269 days and 269 days to 1 year. IndusInd Bank is also offering the same interest rate of 10.75% for a fixed deposit with a maturity of 200 days. Dhanalakshmi Bank has a fixed deposit option with a term of 300 days offering a interest of 10.60%.

For senior citizens, there are many banks offering a fixed interest rate of over 11.00% currently. DBS Bank is offering the highest fixed deposit rate of 11.75% for senior citizens for a term of 1 to 2 years. Karur Vysya Bank, Lakshmi Vilas Bank, Union Bank of India and ING Vysya Bank are all offering fixed deposit products with an interest rate of 11.50% for terms ranging between 1 and 3 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. See the Top 20 interest rates tab for senior citizens given at Ratekhoj.com for more details on the highest fixed deposit rates offered by Indian banks to senior citizens currently.




Comments

2 Responses to “Union Bank of India offering highest fixed deposit interest rate in India”

  1. mayank on November 5th, 2008 11:18 am

    Dear sir,
    i want to know which bank has highest fd rate in india at pesent time.
    regard
    Mayank

  2. Ram Vishnu on November 5th, 2008 12:57 pm

    Hi Mayank:

    DBS Bank is offering the highest fixed deposit rate of 11.25% for non-senior citizens for a fixed deposit term of 1-2 years. Please visit Ratekhoj.com’s fixed deposit comparison page and compare the fixed deposit rates to get more details for various terms etc.

    Regards,
    Ram

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