Comparison Chart for Bank Fixed Deposit Interest rates of Public/Private Sector Banks  

Comparison Chart for Bank Fixed Deposit Interest rates of Public Sector and Private Sector Banks  

A comparison Chart for Bank Fixed Deposit Interest rates of Public Sector and Private Sector Banks would help investors to quickly make a choice of bank for best interest rate on their Fixed deposits .

By the end of October, 1997, Banks have been given full freedom to set their domestic term deposit interest rates.

Bank Term or Fixed Deposits have always been considered as safe and steady income yielding options equally popular among salaried employees or businessmen. Although after de-regularisation in 1997, the average rates of interest on term deposits of banks of more than one year of maturity had come down from 12.50% in March, 1996 (Source RBI) to average of 4.80% in March, 2004 but since then it risen steadily and in 2014 the average interest rate was around 9.00% approx. For Senior Citizens interest rates are generally half percent more than the normal interest rates.

However, since 2014, the rate of interest is consistently falling and currently in view of the Covid-19 Pandemic situation in India, the interest rates have fallen to nearly 2004 level. 

In the current situation, when income is also falling, finding out the bank that gives the maximum return of deposits is very important.

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