As of august 08/2208 which bank gives highest interest for one year fdr

Question

As of august 08/2208 which bank gives highest interest for one year fdr

Answer 1

Hdfc bank...

Answer 2

ICICI currently gives 10% on FD's. FD rates usually peak at 365 - 400 day tenures. So pick one wisely.

You can find FD rates across banks at this site (But keep in mind that their stats are always 1 month old):

http://www.itrust.in/fixed-deposit.actio...

If you are in a higher income tax bracket (20 - 33%), then consider FMP's over FD's. FMP's give the same returns as bank FD's but get taxed at 20% with indexation benifits or 10%, which is always better than flat 30% tax treatment on FD's.

You suggest you talk to the investment officer at your bank about FMP's, before deciding on FD.

Happy Investing :)

Ashwin

http://www.EaseOfMoney.com