From last year the bank fixed deposit interest rates have been reduced to half. The people who are intended to purchase of house, vehicle, on loan, they may happy about the news of reduction of bank deposit rates. But the depositors like retirement people, who are intended to keep the money in the safety banks and to receive regular interest on their deposits so as to pull their lives only on the accrued interest are not happy about this news. In these circumstances what can be done by the depositors. If the money has been deposited in other institutes, depositors may gain some extra interest, on the banks offering interest but the risk factors are very high. Most of the depositors who are showing interest to deposit their money in the banks are not interested against the risk factors. As such the details of safety deposits available in the Postal schemes, and the Bank offering interest rates are produced here under for glance:

The State Bank of India is the largest Bank in the country. In the previous months the S.B.I has reduced the interest rates ½ % and ¼%. Recently also has reduced the interest rate on the fixed deposits. Based on the State Bank of India decisions the entire bank industry will be influenced. As such the other banks may reduce their interest rates on the fixed deposits. As a matter of fact for long terms deposits all banks are offering maximum @ 8% interest only. In future if the rate of interest has been reduced from 8% then the depositors may not have any interest to deposit their money in the banks. In view of these circumstances the Post office schemes are seems better. At present on several post office schemes maximum 8% interest rate is available. On the term deposits, i.e., from 1 to 5 years, 6.25% interest to 7. 25% interest rate is offering.

After Dewali festival the special schemes offered by the banks at the time mobilization of deposits are taking back by the Banks. On fifth of this month, the S.B.I. has withdrawn their special deposit scheme. Some of the banks have already declared that this kind of deposits will be withdrawn very shortly by them i.e., after Dewali festival.

The S.B.H Bank has intended to withdraw their special deposit scheme after Dewaali festival. On the same lines I.D.B.I Bank has also with drawing their special deposit schemes,most probably by this month ending.

The State Bank of Hyderabad is offering 7.5% on 1000 days special deposit scheme.

The I.D.B.I Bank is offering 6.5% on the deposit of from 6 months to one year term deposit, but it has extended only up to October 31^st. The Karoor Vysya Bank is offering a special deposit scheme for the Senior citizens. For one year to below 2 years below deposits 8% , 2-3 years 8.25 % and 3 to 5 years 8.5% interest rates are offering.

In the particular time of reducing of bank rates the following banks are offering some little higher interest. The Catholic Serian bank, and Development Credit Bank (DCB) are offering 8.5% interest on one year and above deposits. These two are in the private sector. The banks related to private Sector ie., Karnataka Bank and Dhanalaxmi Bank they are offering 8% interest. The State Bank of Patiyala which is in the Government Sector is offering 8% interest on this kind of deposits. This is very interest.

Please follow the details interest rates offering by the private sector banks

THE IMPORTANT BANKS IN THE COUNTRY ARE OFFERING THE FOLLOWING INTEREST RATES.

These interest rates are applicable only below 15 lakhs deposits. The banks mentioned in the table S.B.I, OBC have already reduced their interest rates. Other banks may reduced their interest rates in future