India Interest Rates

India's economy with a population of 1.19 billion (Est 2010) ranks 4th in the world with a GDP PPP of 3.5 trillion and GDP PPP per capita of 3,015 vs 45,934 (United States) according to the IMF in 2009. Its currency is the Indian Rupee (INR). Bank deposits held for a fixed term in India are called term deposit or fixed deposits. According to CIA.gov its inflation was 8.3% in 2008 and 10.9% in 2009.

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India Bank Photos

India Bank Interest Rates

Showing rates for 38 Bank 1 Bank 1 P2P deposit providers in India.
BankBranchFoundedOwnership
SBI100001806.Local
PNB60001895Local
Bank Of Baroda47181908Local
Bank Of India45451906Local
Central Bank Of India43361911Local
Canara Bank37651906Local
Union Bank Of India35001919Local
Indian Overseas Bank32571937Local
Syndicate Bank29301925N/A
HDFC Bank25641994N/A

Retail banking in India is dominated by many large pubic sector banks and private sector banks. Other banks available include co-operative banks, regional rural banks and foreign banks

Largest Banks in India
Public sector banks dominate the countries with around 75% bank assets with top public sector banks including 
SBI, the largest bank in India as well as Bank of Baroda, PNB, Bank of India and Canara Bank. For the private sector banks, HDFC and ICICI dominate as well Axis, Kotak Mahindra and IndusInd Bank. All these banks have thousands of branches and ATMs across the country.

Foreign Banks
With a significantly smaller branch network compared to national banks in the country but with more international banking options include Standard Chartered Bank, HSBC, Citibank and Barclays India have retail operations for residents, expats and (NRI) Non resident Indians.

Regulations
In India, the RBI (rbi.org.in) is the regulator of the Indian financial system and the Financial Intelligence Unit (http://fiuindia.gov.in) is the government agency responsible for dessimination and investigations of suspect financial transactions against money laundering and related crimes.

India Discussion Activity

  • Bharatiya Mahila Bank
    Q: I am a 38 year old woman, with an U.G (B.B.A) and knowledge on child development and care, want to start a daycare and preschool center. I wish to avail loan for starting a daycare centre. kindly guide me.

    judsy from India
  • SBI - Deposits
    Q: Rate of interest in saving ac under defense service person

    rajendra from Chennai, India
  • SBI
    Q: what was the sbi interest rate of 2013???

    Rita from Dhaka, Bangladesh