Finally the barrier has been breached!! With the latest round of rate hikes by RBI to reign in the inflation the Term Deposit Rates or the Fixed Deposit Rate has gone past the 10% mark.
Karur Vysya Bank is taking 1 to 2 year deposits at the 10% mark – http://www.kvb.co.in/pdf/Term_Deposits/deposits_rates.pdf
And if you like the safety in state backing then State Bank of Travancore (SBT) is your best bet – taking deposits @ 9.6% for deposits as long as 10 years – http://www.statebankoftravancore.com/interests.htm. This is an extremely beneficial proposition. No other banks are taking deposits for more than 2 year time frame and offering the same rates as SBT.
2 thoughts on “Term Deposit Rates Finally breach the 10% p.a. mark”
Nice on TD..BoB is offering 9.35% for 444 days….but will this help to control inflation ..which is in double digit now ..:)
Corporation bank is giving 9.5% for 1yr to 2yrs and its branch is close to my house 🙂
I am considering whether I should break my FD that was started with Corp bank 6 months ago for 1 yr duration and @ 8.4%, now, or should I wait for interest rates to go up further… hmmm…