Sunday, January 22, 2012

Comparison of NRE Fixed Deposit Interest Rates of Banks

rest rates on Non-Resident (External) Rupee (NRE) Term Deposits have been deregulated by Reserve Bank of India on 16-12-2011. After the deregulation almost all the banks have hiked their interest rates on Non-Resident (External) Rupee (NRE) Term Deposits in December 2011/ January 2012.
A comparison of Non Resident (External) Rupee Term Deposit Account (NRE) Interest Rates of Banks for an amount of below Rs. 1 crore (Updated as on 04-01-2012) is as under.   (For more details click on the respective Name of the Bank)
Sr. No.Name of the Bankw.e.f.Tenor/Period ROI
Public Sector Banks
1Allahabad Bank04-01-20121 Year to < 2 Years9.50
2 Years to < 3 Years9.00
3 Years only8.75
2Andhra Bank01-01-20121 Year9.40
> 1 Year upto 2 Years9.25
> 2 Years upto 3 Years9.00
3Bank of Baroda29-12-20111 Year & above but < 2 Years9.25
2 Years & above but < 3 Years9.25
3 Years & above but < 5 Years9.00
4Bank of India01-01-20121 Year to < 2 Years9.00
2 Years to < 3 Years8.00
3 Years and above7.00
5Bank of Maharashtra01-01-20121 Year to < 2 Years9.00
2 Years to < 3 Years8.75
3 Years to < 5 Years8.75
5 Years to 10 Years8.50
6Canara Bank29-12-20111 Year & above to < 2 Years9.25
2 Years & above to < 3 Years9.25
3 Years & above to < 5 Years9.25
5 Years & above to 10 Years9.00
7Central Bank of India01-01-20121 Year to < 2 Years9.25
2 Years to < 3 Years9.00
3 Years only8.75
8Corporation Bank30-12-20111 Year to < 2 Years9.50
2 Years to < 5 Years9.25
9Dena Bank23-12-20111 Year only9.60
> 1 Year to < 2 Years9.25
> 2 Years to < 3 Years9.25
3 Years only9.25
10Indian Bank  @28-12-20111 Year & above to < 2 Years9.50
2 Years & above to < 3 Years9.50
3 Years & above & upto 5 Yrs9.00
11Indian Overseas Bank01-01-20121 Year to < 2 Years9.25
2 Years to < 3 Years9.25
3 Years to < 5 Years9.25
12Oriental Bank of Commerce02-01-20121 Year to < 2 Years9.75
2 Years to < 3 Years9.25
3 Years to < 5 Years9.25
5 Years only9.25
13Punjab & Sind Bank02-01-20121 Year to < 2 Years9.50
2 Years to < 3 Years9.25
3 Years & upto 5 Years9.25
14Punjab National Bank01-01-20121 Year to < 2 Years9.25
2 Years to < 3 Years9.25
3 Years to 5 Years9.25
15Syndicate Bank29-12-20111 Year & above to < 2 Years9.35
2 Years & above to < 3 Years9.35
3 Years & above upto 5 Years9.25
16UCO Bank #02-01-20121 Year to < 2 Years9.50
2 Years to < 3 Years9.25
3 Years to upto 5 Years9.25
17Union Bank of India27-12-20111 Year to < 3 Years9.25
3 Years to < 5 Years8.75
5 Years & above8.50
18United Bank of India02-01-20121 Year to < 2 Years9.25
2 Years to < 3 Years9.25
3 Years to upto 5 Years9.25
19Vijaya Bank01-01-20121 Year to < 2 Years9.25
2 Years to < 3 Years9.00
3 Years to < 5 Years9.00
5 Years & above8.75
SBI & Associates
20State Bank of Bik & Jaipur01-01-20121 Year & above to < 2 Years9.50
2 Years & above to < 3 Years9.50
3 Years to 5 Years9.50
21State Bank of Hyderabad03-01-20121 Year to < 2 Years9.40
2 Years to < 3 Years9.25
3 Years & upto 5 years9.25
Above 5 Years & upto 10 Years9.25
22State Bank of India01-01-20121 Year to < 2 Years9.25
2 Years to < 3 Years9.25
3 Years to < 5 Years9.25
5 Years to upto 10 Years9.25
23State Bank of Mysore04-01-20121 Year & above but < 2 Years9.50
2 Years & above but < 3 Years9.25
3 Years & above upto 5 Years9.25
5 Years & above upto 10 Years9.25
24State Bank of Patiala1 Year & above to < 2 Years
2 Years & above to < 3 Years
3 Years & above upto 5 Years
25State Bank of Travancore01-01-20121 Year to < 2 Years9.50
2 Years to < 3 Years9.50
3 Years & above upto 5 Years9.25
Private & Foreign Banks
26Axis Bank $04-01-20121 Year & above to < 2 Years9.00
2 Years & above to < 3 Years9.00
3 Years & upto 5 Years8.50
5 Years & upto 10 Years8.50
27Dhanlaxmi Bank26-12-201112 Months to < 24 Months8.00
24 Months to < 36 Months8.00
36 Months to upto 10 Years7.75
28Federal bank01-01-20121 Year only9.50
Above 1 Year to < 3 Years9.25
Above 3 Years8.75
29HDFC Bank04-01-20121 Year7.25
1 Year 1 day to 1 Year 15 Days9.00
1 Year 16 days9.25
1 Year 17 days to 2 Years8.50
2 Years 1 day to 2 Years 15 Days8.50
2 Years 16 days9.25
2 Years 17 days to 3 Years8.50
3 Years 1 day to 10 Years8.25
30ICICI Bank 29-12-20111 Year to 389 days8.25
390 / 590/ 790/ 990 days9.25
391 days to 589 days8.25
591 days to < 2 Years8.25
2 Years to 789 days8.50
791 days to 989 days8.50
991 days to < 3 Years8.50
3 Years to 10 Years8.75
31IDBI Bank28-12-20111 Year9.25
1 Year 1 days to 10 Years9.50
32ING Vyasa Bank  %31-12-2011365 days8.75
366 days9.50
367 days to 500 days9.50
501 days to 1095 days9.25
1096 days to 5 years9.00
33J & K Bank31-12-20111 Year to < 2 Years9.25
2 Years to < 5 Years9.50
5 Years to 10 Years9.00
34Karnataka Bank19-12-20111 Year to < 2 Years9.75
2 Years to < 3 Years9.50
3 Years & upto 5 Years9.50
35Karur Vyasa Bank24-12-20111 Year to 2 Years10.00
Above 2 Years to 3 Years9.75
Above 3 Years9.50
36Kotak Mahindra Bank27-12-20111 Year to < 2 Years9.25
2 Years to < 3 Years9.00
3 Years to 5 Years8.50
37Laxmi Vilas Bank22-12-20111 Year to < 2 Years10.00
2 Years to < 3 Years8.00
3 Years & above7.00
38South Indian Bank02-01-20121 Year to 2 Years9.50
Above 2 Years9.25
39Yes Bank23-12-20111 Year to < 3 Years9.00
3 Years & above8.75
15 Month 15 Days to 16 Months9.60
@ Indian Bank – These rates are applicable for deposits less than Rs. 15 lacs only. For deposit of an amount of Rs. 15 lacs & above upto Rs. 5 croes interest will be 0.25 % lesser for periods less than 3 years.
# UCO Bank – These rates are applicable for deposits of Rs. 15 lacs & above. For deposits less than Rs. 15 lacs interest will be 0.50 % less for all maturities.
$ Axis Bank – These rates are applicable for deposits of Rs. 15 lacs & above. For deposits less than Rs. 15 lacs interest will be 6.50 % for all maturities.
% ING Vysya Bank – These rates are applicable for a deposit of Rs. 15 lacs to < Rs.100 lacs. For deposits upto Rs. 15 lacs ROI will be 0.25 less for 365 days maturities and 0.50% less for all other maturities.
Wishing You Happy Investing.
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