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Interest Rate on fixed Deposits in India

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Interest Rate on fixed Deposits in India

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  1. WhichBanksofferHigher RateofIntereston DepositsinIndia? • Though in today’s scenario, expecting higher rateofinterestonyourdepositsisjustafalsehopeofgettinghigherreturns.Instead,bettertoinvestinSIPtogethigherreturns.However,everyoneneedatleastonesavingaccount.So,hereisthelistofhighestrateofinterestonSavingsAccount. • RBLBANK(RATNAKARBANKLIMITED): • TheinterestratesofRBLBankSavingsAccountare: • Fordailybalance • uptoRs1lakhitis5.1%pa. • aboveRs1lakhandbelowRs10lakhsitis6.1%pa. • aboveRs10lakhsitis7.1%pa • RBL Bank, is one of India’s fastest growing private sector banks with an expandingpresenceacrossthecountry.Itcurrentlyservicesover2millioncustomersthroughanetworkof215branchesand374ATMs;spreadacross16IndianStatesandUnionTerritories.RBLBankhaswonthetitleof‘Global GrowthCompany’(GCC).TheWorldEconomicForumhasgiventhistitletoRBLBank.Ithasalsobeenratedas‘India’sFastestGrowingSmallBank’for fiveconsecutiveyears(2012,2013,2014,2015&2016)asperBusinessToday–KPMG India’sBestBankstudy.RBL Bankhas made it’s place onNSEandBSE,both. • Establishedin1943,RBLBankstartedatransformationaljourneyunderanewmanagementteamin2010.Today,theBankoffersspecializedservicesundersixbusinessverticals.And,theverticalsare:CorporateandInstitutionalBanking,CommercialBanking,BranchandBusinessBanking,

  2. AgribusinessBanking,DevelopmentBankingTreasuryandFinancialMarketsOperations.AgribusinessBanking,DevelopmentBankingTreasuryandFinancialMarketsOperations. andFinancial Inclusion, RecommendedRead:What are Tax Saving Fixed Deposits? YESBANK:SAVINGSACCOUNTRATEOFINTERESTIS6%PA YES Bank, India’s 5th largestprivatesectorBank,FoundedbyRanaKapoor.It’sthe onlyGreenfieldBanklicense,whichgot award fromtheRBI.TheBank,a“FullServiceCommercialBank”,hassteadilybuiltaCorporate, Retail&SMEBankingfranchise,withacomprehensiveproductsuiteofFinancialMarkets,InvestmentBanking,CorporateFinance,BranchBanking,BusinessandTransactionBanking,andWealthManagementbusinesslinesacrossthecountry. KOTAKMAHINDRA:SAVINGSACCOUNTRATEOFINTERESTIS6%PA KotakMahindraBankLtd.isaonestopshopforallbankingneeds.Thebankofferspersonalfinancesolutionsofeverykindfromsavingsaccountstocreditcards,distributionofmutualfundstolifeinsuranceproducts.KotakMahindraBankofferstransactionbanking,operateslendingverticals,managesIPOsandprovidesworkingcapitalloans.KotakhasoneofthelargestandmostrespectedWealthManagementteamsinIndia,providingthewidestrangeofsolutionstohighnetworthindividuals,entrepreneurs, businessfamiliesandemployedprofessionals.

  3. INDUSINDBANK: • TheinterestratesofIndusIndBankSavingsAccountare: • Fordailybalance • uptoRs1lakhitis4%pa. • aboveRs1lakhandbelowRs10lakhsitis5%pa. • aboveRs10lakhsitis6%pa. • ForIndusIndBankthe“CustomerResponsiveness”themehasalwaysbeen of paramount importance to provide customer satisfaction. The bank’s • missionisto provide solutionto itscustomer’s needs. • LAKSHMIVILASBANK: • TheinterestratesofLakshmiVilasBankSavingsAccountare: • Fordailybalance • uptoRs5lakhitis5%pa. • aboveRs5lakhitis6%pa. • Agroupofsevenprogressivebusinessmen,foundedLakshmiVilasBankin • 1926.ShriV.S.N.RamalingaChettiarwastheleaderofthisgroup.TheirobjectivewastocatertothefinancialneedsofthepeopleinandaroundKarur.Specially,whowereoccupiedintradingbusinesses,industryandagriculture.TheBankwasincorporatedonNovember3,1926;undertheIndianCompaniesAct,1913.And,gotthecertificatetocommencebusinessonNovember10,1926.TheBankobtaineditsbankinglicensefromRBIon19,June1958;andon11,August1958,itbecamea‘scheduledcommercialbank’signifying capabilityto operate asafull-fledgedcommercialbank. • Thebankhas481branchesand7extensioncounterswithPANIndiapresence.Thereare11RegionalOfficestocontroltheoperationofthebank.Also, Bank has 25“B” CategoryBranches.Thebankisactiveacrosstheentirespectrumofcustomersegments–retail,mid-marketandcorporate.Further,takingpartinalltheGovernmentinitiatedfinancialinclusionplans. • BANDHANBANK: TheinterestratesofBandhanBankSavingsAccount:

  4. Fordailybalance • uptoRs1lakhitis4.25%pa. • aboveRs1lakhandbelowRs10lakhsitis5%pa. • aboveRs10lakhsitis6%pa. • BandhanBankLimitedwasincorporatedon23rdDecember2014asawholly-ownedsubsidiaryofBandhanFinancialHoldingsLimited.Bandhanreceivedthein-principleapprovaloftheReserveBankofIndia(RBI)forsettingupauniversalbankinApril2014.ThebankingregulatorgaveitsfinalnodinJune2015.BhandhanBankhasit’sheadquarterinKolkata.Also, BandhanisthefirstbankfoundedineasternpartofIndiaafterIndependence. • BandhanFinancialHoldingsareownedbyBandhanFinancialServicesLimited(BFSL);thelargestmicrofinanceorganizationinIndia.ItspublicshareholdersincludeInternationalFinanceCorporation(IFC),SmallIndustriesDevelopmentBankofIndia(SIDBI),CaladiumInvestmentPte.Ltd.(acompanymanagedbyGICSpecialInvestmentsPrivateLimited),BandhanEmployeesWelfareTrust,andafewindividuals. • The Bank’s mission is “To provideourcustomersaccessible,simple,cost-effectiveandinnovativefinancialsolutionsinacourteousandresponsiblemanner.Tocreatevalueforallstakeholdersthroughacommittedteam,robust policies and superior systemsandtechnology” • CITIBANK:SAVINGSACCOUNTRATEOFINTERESTIS4%PA • CitiBankbeganoperationsinIndiaoveracenturyagoin1902inKolkata.Today,CitiBankisasignificantforeigninvestorintheIndianfinancialmarket.Aspromoter-shareholder,Citihasplayedaleadingroleinestablishingimportantmarketintermediariessuchasdepositories,creditbureau,clearingandpaymentinstitutions.CitihelpedlaythefoundationoftheIndiansoftwareindustrybyestablishingCiticorpOverseasSoftwareLtd.andIflexSolutionsLtd.;itpioneeredtheITESindustryinfinancialservicesthroughCitigroupGlobalServicesLtd.(CGSL).OracleacquiredIflexin2005andCGSLwasacquiredbyTataConsultancyServicesin2008.

  5. CitiIndiaaddedtwomoregreencertifiedbuildingstoitsofficepremisesin2012.And,in2013moveditsheadquarterstoTheFirstInternationalFinancialCentre(FIFC),aworld-classenvironmentallyfriendlybuilding.Inaddition,CitiIndia,throughitsnetworkofCitiServiceCentres,hasbeenaleadingoffshoringunitforCitigroupglobally,providingemploymentopportunitiesintheareasoftechnology,processing,analyticsandfinancialprocesses.CitiIndiaaddedtwomoregreencertifiedbuildingstoitsofficepremisesin2012.And,in2013moveditsheadquarterstoTheFirstInternationalFinancialCentre(FIFC),aworld-classenvironmentallyfriendlybuilding.Inaddition,CitiIndia,throughitsnetworkofCitiServiceCentres,hasbeenaleadingoffshoringunitforCitigroupglobally,providingemploymentopportunitiesintheareasoftechnology,processing,analyticsandfinancialprocesses. STATEBANKOFINDIA:SAVINGSACCOUNTRATEOFINTERESTIS4%PA TheoriginoftheStateBankofIndiagoesbacktothefirstdecadeofthenineteenthcenturywiththeestablishmentoftheBankofCalcuttainCalcuttaon2June1806.Threeyearslaterthebankreceiveditscharterandwasre-designedastheBankofBengal(2January1809).Auniqueinstitution,itwasthefirstjoint-stockbankofBritishIndiasponsoredbytheGovernmentofBengal.TheBankofBombay(15April1840)andtheBankofMadras(1July1843)followedtheBankofBengal.ThesethreebanksremainedattheapexofmodernbankinginIndiatilltheiramalgamationastheImperialBankofIndiaon27January1921. SBIisactivelyinvolvedsince1973innon-profitactivitycalledCommunityServicesBanking.Allourbranchesandadministrativeofficesthroughoutthecountrysponsorandparticipateinlargenumberofwelfareactivitiesandsocialcauses. ICICIBANK:SAVINGSACCOUNTRATEOFINTERESTIS4%PA ICICIBankwasoriginallypromotedin1994byICICILimited,anIndianfinancialinstitution;andwasitswholly-owned subsidiary. ICICI’s shareholdinginICICIBankwasreducedto46%throughapublicofferingofsharesinIndiainfiscal1998,anequityofferingintheformofADRslistedon the NYSE in fiscal 2000, ICICI Bank’s acquisition of Bank of Madura Limitedinanall-stockamalgamationinfiscal2001,andsecondarymarketsalesbyICICItoinstitutionalinvestorsinfiscal2001andfiscal2002.ICICIwasformedin1955attheinitiativeoftheWorldBank,theGovernmentof IndiaandrepresentativesofIndianindustry.Theprincipalobjectivewasto

  6. createadevelopmentfinancialinstitutionforprovidingmedium-termandlong-termprojectfinancingtoIndianbusinesses.createadevelopmentfinancialinstitutionforprovidingmedium-termandlong-termprojectfinancingtoIndianbusinesses. AXISBANK:SAVINGSACCOUNTRATEOFINTERESTIS4%PA AxisBankisthe3rdlargestprivatesectorbankinIndia.TheBankofferstheentirespectrumoffinancialservicestocustomersegmentscoveringLargeandMid-Corporates,MSME,AgricultureandRetailBusinesses.TheBankhasalargefootprintof2904domesticbranches(includingextensioncounters)and12,743ATMsspreadacrossthecountryason31stMarch2016.TheoverseasoperationsoftheBankarespreadovernineinternationaloffices;withbranchesatSingapore,HongKong,Dubai(attheDIFC),ColomboandShanghai.And,therepresentativeofficesareatDhaka,Dubai,AbuDhabiandanoverseassubsidiaryatLondon,UK.Theinternationalofficesfocusoncorporatelending,tradefinance,syndication,investmentbankingandliabilitybusinesses. AxisBankisoneofthefirstnewgenerationprivatesectorbankstohavebegunoperationsin1994.TheBankwaspromotedin1993;jointlybySpecifiedUndertakingofUnitTrustofIndia(SUUTI)(thenknownasUnitTrustofIndia),LifeInsuranceCorporationofIndia(LIC),GeneralInsuranceCorporationofIndia(GIC),NationalInsuranceCompanyLtd.,TheNewIndiaAssuranceCompanyLtd.,TheOrientalInsuranceCompanyLtd.andUnitedIndiaInsuranceCompanyLtd.TheshareholdingofUnitTrustofIndiawassubsequentlytransferredtoSUUTI;anentityestablishedin2003. HDFCBANK:SAVINGSACCOUNTRATEOFINTERESTIS4%PA TheHousingDevelopmentFinanceCorporationLimited(HDFC)wasamongstthefirsttoreceivean‘inprinciple’approvalfromtheReserveBankofIndia (RBI)tosetupabankintheprivatesector,aspartofRBI’sliberalizationoftheIndianBankingIndustryin1994.ThebankwasincorporatedinAugust1994in the name of ‘HDFC Bank Limited’; with its registered office in Mumbai,India.HDFCBankcommencedoperationsasaScheduledCommercialBankinJanuary1995.ThisBankbeganoperationsin1995with asimplemission:tobea“World-classIndianBank”.

  7. TheBank’sobjectiveistobuildsoundcustomerfranchises,acrossdistinct businesses.So,thebankcouldemergeaspreferredproviderofbankingservicesfortargetretailandwholesalecustomersegments.And,toachievehealthy growth in profitability, consistent with the bank’s risk appetite as well.HDFCBank’sbusinessphilosophyisbasedonfivecorevalues.And,the valuesareOperationalExcellence,CustomerFocus,ProductLeadership,PeopleandSustainability. PUNJABNATIONAL BANK:SAVINGSACCOUNTRATEOFINTERESTIS4%PA Punjab National Bank, India’s first Swadeshi Bank,commenceditsoperationsonApril12,1895fromLahore,withanauthorizedcapitalofRs2.00LakhsandworkingcapitalofRs20,000.Thefar-sightedvisionariesandpatriotslikeLalaLajpatRai,Mr.ECJessawala,BabuKaliPrasonoRoy,LalaHarkishanLalandSardarDyalSinghMajithiadisplayedcourageingivingexpressiontothespiritofnationalismbyestablishingthefirstbankpurelymanagedbytheIndianswithIndianCapital. Duringthelonghistoryofover122yearsoftheBank,7bankshavemergedwithPNBandithasbecomestrongerandstrongerwithanetworkof6888Domesticbranchesand9997 ATMsason31stDecember2016.Bank’smissionis “Creating Valueforall its customers,InvestorsandEmployeesforbeingthefirstchoiceforallstakeholders” Save TaxOnFixedDepositOpenSbiHolidayAccount SbiPPFAccountOnline

  8. SbiSaving AccountOnline Kid’sSavingsAccountWithIndian BanksOpenKidsSavingsAccount OpenSukanyaSamriddhiAccount

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