Foreign Banks & FD Interest Rates
The Reserve Bank Of India is also known as the Central Bank Of India. RBI is the regulatory body and controls all the banks in India. Whether Public Sector Banks or Private Banks all execute their business under RBI’s guidelines. Under the category of Banks, there are also foreign banking institutions working under RBI. Foreign Banks are pretty much popular in our country and offer many financial services. The headquarters of these institutions are outside India but offer their services through Indian branches.
As per Reserve Bank of India, “ Foreign bank branches in India recorded 13.8 per cent growth in their income which was largely driven by interest income 2019-2020.” Till now 46 foreign banks are doing business in India under RBI and offer convenient interest rates on FDs.
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Here Is The List Of FD Rates of Major Foreign Banks of India:
|Foreign Banks Of India||Tenure Of 1-2 years||Tenure Of 3-5 years||Tenure Of 5-10 years|
|Citi Bank||2.75-3%||3.5% (more than 3 years)||–|
|Deutsche Bank||3.85-5%||5.50-6%||6.25% (For up to 5 years)|
|Standard Chartered Bank||5.25-5.30%||5.35-5.60%||–|