Best Interest Rates on Savings and Term Deposits by Banks
Savings Account Interest Rates RBL Bank : 5.5% for amount between 1 to 10 L Bandhan Bank : 5% for amount between 1 to 10 L IDFC First Bank : 4.5% for balance between 1 to 10 L (Progressive) IndusInd Bank : 4% for balance up to 10 L IDBI Bank : 3% HDFC Bank : 3% up to 50 L ICICI Bank : 3% up to 50 L Union Bank of India : 2.9% SBI : 2.7% Bank of Baroda: 2.7% Term Deposit Rates (Senior Citizens) RBL Bank : 6.8% for 3 yrs IndusInd Bank : 6.5% for for 1 yr ICICI Bank: 6.3% for above 5 years Bandhan Bank : 6.25% for 1 yr HDFC Bank : 6.25 for 5 yrs and above SBI : 6.2% 5 - 10 yrs IDFC First Bank :6% for 3 yrs Union Bank of India : 5.5% for > 5 yrs Bank of Baroda: 5.25% for 3 yrs and above IDBI Bank : 5.9% for 3 - 5 yr deposit Other Long Term Options with Lock in PMVVY : 7.6% Lock in of 10 yrs Senior Citizens Savings Scheme : 7.4% Public Provident Fund: 7.1 % Lock in of 15 yrs and 5 yrs thereafter (Best due to EEE taxation in-spite of low rate)