The prevailing interest rate range offered by top public and private sector banks for 1 to 3-year term deposits, compounding quarterly under RBI rules.
How This Benchmark Affects Your Money in India
•Senior citizens receive an additional 0.50% interest bonus, pushing returns up to 8.10%.
•Quarterly compounding ensures an effective annual yield of ~7.71% on a 7.50% stated rate.
•Protected up to ₹5,00,000 per depositor per bank by DICGC insurance.
