Now this is plain and simple. People are attracted to those banks that offer high rates of interest. Irrespective of the deposits offers, Indian banks are recognized as the best and the safest option to go with. Depositing in SBI or any other nationalized banks are not considered a very good option by many. Some offer 8% or 8.5% for your money while some other offers deposit interest rates up to 10%. Though the variation might seem very small, even a minor difference of 0.5% interest rate will fetch you around Rs.500 more per year. This way over the years your hard earned money will increase in figure. Therefore, whenever you plan on depositing your money, make sure you deposit it with higher rate of interest.

1. Indian Bank Deposit Rates Comparison
2. Indian Bank Deposit Rates

For Non-Resident Indian, the benefits of making NRE Deposits are awesome. NRI gets a waiver on income tax as whatever money you sent from abroad is considered income tax-free plus the interest you can bag.

An Indian Bank RD account can be opened for a tenure ranging from 6 months to one year. The minimum deposit amount needed is just Rs. 25 and the interest rate that you can earn ranges from 5.50% to 7.40% p.a. Check more details about Indian Bank. Indian Bank Recurring Deposit Interest Rates – For Deposits Less than 2 Crore. . Premature withdrawal facility is available on the term deposits held in Indian Bank. Interest rates on term deposits vary in the range of 4.50% per annum – 6.75% per annum.

• Benefits for senior citizens - For domestic term deposits, senior citizens can earn an additional Indian Bank fixed deposit rate of 0.50% for amounts up to Rs.10 crore. The depositors must submit proof of age to show they have completed 60 years. Loan against FD - You can avail a loan up to 90% of the fixed deposit amount with the bank.
• Hence depositor will ascertain the rates as on the date of placement from the website. Aggregate value of deposits placed by a depositor on the day for an identical tenor will be taken for deciding applicable interest rate. For interest rates for deposits of Rs. 2 Crores and above, Please contact our nearest branch.

We have come up with the top 10 banks that offer the highest Deposit interest rates in the NRE/ NRI Fixed deposit sector. Read along:

1. Catholic Syrian Bank (CSB)

Catholic Syrian Bank or CSB has been an active part of the banking business for more than 93 years now. This Phenomenal Scheduled bank offers an NRE interest rate of 10.1% for a period of 3- 5 years.

2. ICICI Bank

ICICI is the largest private bank in India and offers an interest rate of up to 9.5% for an NRE Deposit for 3-5 years.

3. Federal Bank

Federal Bank is known for offering the highest NRE Fixed deposit interest rates for 1111 days at 10% for any NRE Deposit.

4. South Indian Bank (SIB)

SIB offers 10% interest rates for an NRE FD for 3 long years.

5. Karnataka Bank

Karnataka Bank offers 9.5% interest rate for an NRE FD for 3-5 years.

6. IDBI

IDBI offers 9.5% rate of interest in the NRE sector for 3-5 years.

7. Lakshmi Vilas Bank (LVB)

Lakshmi Vilas Bank gives away an interest rate of 9.5 % for 1 year for NRI citizens in the NRE Fixed deposit sector.

8. Dhanalakshmi Bank (DLB)

Dhanalakshmi Bank has a 9.5% fixed interest rates on NRE Deposit for 3-5 years to offer.

9. Tamilnadu Mercantile Bank (TMB)

Tamilnadu Mercantile Bank offers 9.5% interest rates in the NRE fixed deposit sector for 1 year.

10. Karur Vysya Bank (KVB)

Karur Vysya Bank gives away an interest rate of 9.5% for1-2 years.

Indian Bank Deposit Rates Comparison

Note: The list above is just to make you aware about the best options available. The interest rates offered by these banks might however change from time to time. Again, outside of these, there are many other banks that offer better interest rates for a high value deposit, probably above 1 crore. Daily quotes are also provided to give you better returns on your money.

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A Savings Account is very beneficial with multiple advantages as detailed below:

(1) Earns Interest on your Savings

This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.

Interest rate in savings account ranges from 3.5% to 7%.

(2) Provides Security of Funds

There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.

(3) No Lock-in Period

There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.

(4) Offers Liquidity

You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.

(5) Availability of Variety of Savings Account

Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.

(6) Services of Customer Relation Manager

Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.

(7) Online Banking Facilities

If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.

(8) Provides ATM/ Debit Card

You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.

(9) Helps you Get Credit or Loan

The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. You will also be in a position to negotiate with the banker on the interest rates.

(10) No Cap on Deposits

There is no limit on the amount deposited and number of times it is deposited.

(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions

You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.

(12) Free Mobile App

Indian Bank Deposit Rates

Most of the banks provide their mobile app for free. Through this app, you can get to know your account balance, check your statement, make transactions, easy transfer of money, etc.