FD Interest Rates of All Banks
Fixed Deposit Interest Rates
|Interest Rate||3.00% - 8.50%|
|Minimum Deposit Amount||Rs. 100|
|Tenure||1 day to 10 years|
|Interest Compound Frequency||Quarterly|
|Partial Withdrawal||Allowed with penalty|
|Premature Closure||Allowed with charges|
- FD interest rates offered by banks vary by FD tenure and are regularly reset by banks.
- Banks offer FD rates based upon market liquidity and RBI policy. Hence, FD rates are not the same across all banks.
- Banks also offer special schemes from time to time, which typically offer higher rates for select maturities.
- For high value deposits (typically more than Rs. 1 Cr or Rs. 5 Cr), banks offer 0.5% higher rate on fixed deposit.
Compare Fixed Deposit Interest Rates in India Sep 2017
|Bank||Generate Rates||Senior Citizen Rates|
|SBI||5.50% - 6.75%||6.00% - 7.25%||Explore More Calculator|
|HDFC Bank||3.50% - 6.80%||4.00% - 7.30%||Explore More Calculator|
|ICICI Bank||4.00% - 6.75%||4.50% - 7.25%||Explore More Calculator|
|Axis Bank||3.50% - 6.75%||3.50% - 7.25%||Explore More Calculator|
|Kotak Bank||3.50% - 6.60%||4.00% - 7.10%||Explore More Calculator|
|IDFC Bank||4.00% - 7.50%||4.50% - 8.00%||Explore More Calculator|
|Bank of Baroda||4.50% - 6.65%||4.50% - 7.15%||Explore More Calculator|
|Corporation Bank||5.00% - 6.60%||5.50% - 7.10%||Explore More Calculator|
|IDBI Bank||4.25% - 6.75%||4.25% - 7.25%||Explore More Calculator|
|Indian Bank||4.00% - 6.50%||4.50% - 7.00%||Explore More Calculator|
|Indian Overseas Bank||4.00% - 6.75%||4.50% - 7.25%||Explore More Calculator|
|OBC||4.00% - 6.60%||-||Explore More Calculator|
|PNB||4.00% - 6.60%||4.50% - 7.10%||Explore More Calculator|
|SBBJ||5.50% - 6.90%||6.00% - 7.40%||Explore More Calculator|
|Syndicate Bank||4.75% - 6.60%||5.25% - 7.10%||Explore More Calculator|
|Allahabad Bank||4.00% - 6.60%||-||Explore More Calculator|
|Andhra Bank||4.00% - 6.75%||4.50% - 7.25%||Explore More Calculator|
|Bank of India||4.00% - 6.70%||4.00% - 7.20%||Explore More Calculator|
|Bank of Maharashtra||4.25% - 6.50%||4.25% - 7.00%||Explore More Calculator|
|Canara Bank||4.20% - 6.75%||4.70% - 7.25%||Explore More Calculator|
|Central Bank of India||4.75% - 6.60%||5.25% - 7.00%||Explore More Calculator|
|Dena Bank||4.00% - 6.50%||4.50% - 7.00%||Explore More Calculator|
|Punjab and Sind Bank||4.00% - 6.80%||4.00% - 7.30%||Explore More Calculator|
|State Bank of Hyderabad||5.50% - 6.90%||6.00% - 7.40%||Explore More Calculator|
|State Bank of Mysore||5.50% - 6.90%||6.00% - 7.40%||Explore More Calculator|
|State Bank of Patiala||5.50% - 6.90%||6.00% - 7.40%||Explore More Calculator|
|State Bank of Travancore||5.50% - 7.00%||6.00% - 7.50%||Explore More Calculator|
|UCO Bank||4.50% - 6.65%||-||Explore More Calculator|
|Union Bank of India||5.00% - 6.75%||5.50% - 7.25%||Explore More Calculator|
|Vijaya Bank||4.00% - 6.50%||4.50% - 7.00%||Explore More Calculator|
|United Bank of India||4.00% - 6.10%||4.00% - 6.50%||Explore More Calculator|
|Jalgaon Janata Sahakari Bank Ltd||5.00% - 7.50%||5.00% - 7.75%||Explore More Calculator|
|South Indian Bank||4.00% - 6.75%||4.50% - 7.25%||Explore More Calculator|
|Development Credit Bank||4.00% - 7.10%||4.50% - 7.60%||Explore More Calculator|
|LIC Housing Finance||7.30% - 7.50%||7.55% - 7.75%||Explore More Calculator|
|Almora Urban Cooperative Bank||4.00% - 7.65%||4.50% - 8.15%||Explore More Calculator|
|Karur Vysya Bank||5.00% - 7.00%||5.00% - 7.50%||Explore More Calculator|
|Citibank||3.00% - 5.25%||3.50% - 5.75%||Explore More Calculator|
|Janaseva Sahakari Bank Borivli||4.00% - 8.50%||4.00% - 9.00%||Explore More Calculator|
|DBS Bank||4.00% - 6.70%||4.00% - 6.70%||Explore More Calculator|
|Abhyudaya Cooperative Bank||6.00% - 7.50%||6.00% - 7.75%||Explore More Calculator|
|RBL Bank||5.00% - 7.50%||5.50% - 8.00%||Explore More Calculator|
|Dhan Laxmi Bank||4.00% - 6.60%||4.00% - 7.10%||Explore More Calculator|
|HDFC||7.40% - 7.40%||7.65% - 7.65%||Explore More Calculator|
|Catholic Syrian Bank||3.50% - 6.75%||-||Explore More Calculator|
|Kapol Cooperative Bank LTD||5.00% - 8.00%||5.00% - 8.25%||Explore More Calculator|
|Yes Bank||5.00% - 6.75%||5.50% - 7.25%||Explore More Calculator|
|Janakalyan Sahakari Bank Ltd||4.25% - 8.00%||4.25% - 8.25%||Explore More Calculator|
|PNB Housing Finance||7.25% - 7.40%||7.50% - 7.65%||Explore More Calculator|
|Ahmedabad Mercantile Cooperative Bank||4.50% - 7.25%||5.00% - 7.75%||Explore More Calculator|
|Nainital Bank||4.00% - 7.90%||4.50% - 8.40%||Explore More Calculator|
|Tamilnad Mercantile Bank||5.00% - 7.00%||5.00% - 7.50%||Explore More Calculator|
|Karnataka Bank||3.50% - 6.90%||4.00% - 7.40%||Explore More Calculator|
|Standard Chartered Bank||4.25% - 7.00%||5.25% - 7.50%||Explore More Calculator|
|Federal Bank||3.50% - 7.00%||4.00% - 7.50%||Explore More Calculator|
|Bandhan Bank||3.50% - 7.25%||4.00% - 7.75%||Explore More Calculator|
|Kalyan Janata Sahakari Bank||4.50% - 8.25%||4.75% - 8.75%||Explore More Calculator|
|City Union Bank||6.25% - 7.10%||6.25% - 7.50%||Explore More Calculator|
|Jammu And Kashmir Bank||5.00% - 6.75%||5.50% - 7.25%||Explore More Calculator|
|DHFL||7.75% - 8.00%||8.25% - 8.50%||Explore More Calculator|
|Akola Janata Commercial Cooperative Bank||4.00% - 7.50%||4.00% - 8.00%||Explore More Calculator|
|Lakshmi Vilas Bank||4.50% - 7.00%||4.50% - 7.50%||Explore More Calculator|
|Deutsche Bank||4.00% - 7.50%||4.00% - 7.50%||Explore More Calculator|
|IndusInd Bank||4.00% - 6.85%||4.50% - 7.35%||Explore More Calculator|
|HSBC Bank||3.00% - 6.50%||3.50% - 7.00%||Explore More Calculator|
A fixed deposit (FD) is a type of deposit account provided by banks for a fixed tenure at a fixed rate of interest. In this scheme, the depositor keeps a fixed amount of money in an account known as FD account. The money is deposited only once at the time of account opening. At the end of the tenure, the interest amount is calculated on the principal amount and the total sum including interest is paid back to the depositor cumulatively. Fixed account earn higher interest rates than a regular savings bank account.
Fixed Deposits are also known as ‘term deposits’ or ‘time deposits’. If you wish to deposit additional amount as fixed deposit, you need to open another FD account. Term deposits are considered safest investment option compared to other savings instruments. The duration of a fixed deposit may vary from as short as 1 day to 10 years. The rate of interest is based on the tenure of fixed deposit and bank interest rate policies.
Fixed Deposits Benefits
- FD is a risk free investment and offers moderate returns which covers inflation.
- All residents, minors or HUFs are allowed to open a fixed deposit account.
- The tenure of deposits can range between 1 day to 10 years with varying rates for each tenure. Tax Saving FDs are available for 5 years or 10 years.
- A FD holder can fill names of 2 nominees in application form, who can receive the FD amount after the death of the holder by submitting a valid death proof.
- Money cannot be withdrawn from the account before maturity. Thus, it encourages a depositor to not incur expenses from his savings. In case of emergencies, banks allow premature withdrawals from FD by paying penalty.
- Some banks and NBFCs also provides a Sweep-in facility on their deposit which allows the depositor to interlink their savings bank account to fixed deposit account. This unique facility on FD facilitates the automatic transfer of surplus funds from savings account to FD account thus allowing you to earn FD rates on your savings with an option to break the FD anytime and use the amount for your expenses.
- Some lenders also offers the facility to take loans on your fixed deposits to meet any financial emergency. In loan against FD, your deposit is the security for the loan. Depending upon the bank, you would get a loan on your FD up to the extent of 75-95% of the FD amount which varies from one lender to another. Rate of interest on FD loans are 1%-1.5% higher than your FD rate.
Fixed Deposit Interest Rates for Senior Citizens
Interest offered on senior citizen FDs is slightly higher than that offered to other individuals. Senior citizens are required to submit their age proof to avail the benefits of senior citizen FDs.
FD Senior Citizens – Features
- Age of senior citizen should be 60 or more on the date of investment.
- Tenure on senior citizens FD is between 1 day to 10 years in most of the banks.
- Senior citizens are eligible for higher interest between of 0.25% to 0.75% in addition to what the banks pays in general category.
- Loans can also be taken against senior citizen FD.
- Penalties are applicable in case of premature withdrawal of FDs of senior citizens as applicable to other regular accounts.
Timely closure of a FD means closing your FD at the time of its maturity date. While closing your FD upon its original maturity, the bank will pay you back the principal amount along with the interest on your deposit.
Breaking of FD account
Breaking a fixed deposit account means withdrawing the entire sum of money before its maturity. This is allowed from time to time and the withdrawal rules may vary from one bank to another. Banks usually levy a penalty at the time of breaking your FD account or pre closing it before attaining the original maturity and it pays you back the principal and interest either at a lower interest rate or after deducting a penalty on your FD. However, some banks including IDFC Bank, Yes Bank and Bank of Maharashtra waive off this penalty on FD if the liquidation is due to some emergency.
Partial withdrawal allows you to withdraw a certain amount of money from your fixed deposit account either to fund emergency or to take advantage of higher rate of interest which is offered by some other bank at the same time. It is generally allowed in units of Rs. 1,000 and a penalty of 1% is levied by the banks and the remaining balance amount which is lying in your fixed deposit account continues to earn the original rate of interest. Most of the banks allow the facility of part withdrawal with some penalty and there are few banks which do not allow to withdraw any amount during the deposit tenure.
FD Interest Calculator
The following formula is used by banks to calculate interest on Fixed Deposit Account on the basis of rate of interest and frequency of compounding.
How to calculate interest on fixed deposit?
The formula to be used for calculating interest on fixed deposit is shown below
A = P * (1+ r/n) ^ n*t
I = A – P
A = Maturity value
P = Principal amount
r = rate of interest
t = Number of years
n = Compounded interest frequency
I = Interest earned amount
Illustration: Suppose Mr. A went to a bank to create a fixed deposit of Rs. 100,000. The bank is paying 4.3% of annual interest rate on FD which is compounded quarterly, So how much amount Mr. A will get at the maturity date after 10 years?
P = Rs. 100,000
r = 8.50/100 = 0.085
n = 4
t = 10
A = 100,000 * (1 + 0.085/4) ^ 4*10
= Rs. 231,890
Balance amount after 10 years will be Rs. 231,890
I = A – P
= 231,890 – 100,000 = Rs. 131,890
And interest earned will be Rs. 131,890
So, Mr. A will receive amount of Rs. 231,890 after the maturity of its fixed deposit after 10 years and the interest earned on the deposit is Rs. 131,890.
- Carefully evaluate and compare factors such as maturity, interest, penalty for breaking FD before maturity before choosing the fixed deposit and FD bank.
- Also, understand the broad macro-economic factors and expected trends in interest rates. If you expect the interest rates to go up in the near future, opt for a shorter tenure FD to keep your options open of investing when interest rates go up. If you expect the interest rates to go down in the near future, you can decide to opt for a longer tenure FD with a high interest rate.
- Before parking your surplus amount into a fixed deposit account, depositors should also check and compare the tenure wise interest rate offered on FD. In some cases, banks offer a higher rate of interest on FD held for a shorter tenure than on the FD kept for a longer time period. Similarly, it is not essential that higher interest rates correspond with longer tenure. Banks may offer higher interest rate on some select tenure to manage their internal liquidity position.
- Last, but not the least. Carefully plan all your expenses and create a FD only for an amount that you believe you will not require for a minimum period of time. Suppose, if you have surplus money Rs. 100,000 but you have a home loan repayment of Rs. 50,000 scheduled after two months. In this case, it is advisable that you deposit Rs. 50,000 in a short-term FD of less than 2 months and the remaining Rs. 50,000 in to a long tenure FD.
Income tax on Fixed Deposit interest
Interest on FD is taxed at marginal tax rate applicable to the depositor. Hence, for a person in highest tax bracket, the post tax return on a FD that earns 9% interest may work out to just 6%.
- One point that lot of depositors are unaware of the fact that interest income on FD’s is taxed on accrual basis. To explain this further, let's take the example of a cumulative fixed deposit of Rs. 100,000 placed at 10% for 5 years on 1st April 2015. The maturity value of this FD will be Rs. 163,862 taking into account quarterly compounding. The first year interest accrued on this FD comes to Rs. 10,381. However, the depositor will not receive any interest credit on this FD in the year 2015-16 as the interest is payable on maturity. Still, the depositor must pay tax on the accrued interest in the year 2015-16 in the assessment year 2016-17.
- In case the interest earned by you on fixed deposits with all branches of a bank in a year exceeds Rs. 10,000, your interest income will be subject to 10.3% tax deduction at source (TDS). Remember to quote your IT PAN when opening the term deposit, as otherwise the bank will need to deduct twice the tax at 20.6%. Also, you can claim credit for TDS only if your PAN is recorded with the bank.
Types of Fixed Deposit
Regular FD : These deposits are made for a fixed time period with the bank and it allows you to earn a high rate of interest on your deposit amount depending on the tenure of FD. The FD interest rate is as offered by the bank at the time of deposit.
Tax saving FD : This is a special type of deposit which allows the depositor to claim deduction on interest earned of FD under Section 80C of Income Tax Act. The deduction limit is Rs. 1,50,000. Key Features of Tax Savings FD are:
- Money deposited in this FD has a lock-in-period of a minimum of 5 years
- Premature withdrawal or partial withdrawal is not allowed
- Loans against FDs are not available
- Interest earned on tax savings FD are exempted under Section 80 C of Income Tax Act up to a maximum limit of Rs. 1.5 lakh
Some of the popular tax saving FDs offered by banks are as follows:
|Bank||Name of Tax Saving FD||Minimum deposit||Interest Rate|
|SBI||SBI Tax Savings Scheme||Rs. 1,000||6.75%|
|HDFC Bank||5 Year Tax Saving Fixed Deposit||Rs. 100||6.80%|
|Axis Bank||Tax Saver Fixed Deposit||Rs. 100||6.75%|
|Kotak Bank||Tax Saving Fixed Deposit||Rs. 100||6.60%|
|ICICI Bank||Tax Saving Fixed Deposit||Rs. 10,000||6.75%|
|Citibank||Tax Saver Deposits||Rs. 1,000||5.25%|
|Bank of Baroda||Baroda Tax Savings Term Deposit||N.A||6.65%|
|Corporation Bank||Corp Tax Saver Plus Deposit Scheme||Rs. 100||6.60%|
|PNB||PNB Tax Saver Fixed Deposit Scheme||Rs. 100||6.60%|
|RBL Bank||Tax Savings Fixed Deposits||N.A||7.50%|
|City Union Bank||Tax Saver Fixed Deposit||Rs. 100||7.10%|
|Deutsche Bank||Tax Saver Deposit||Rs. 20,000||7.50%|
|Central Bank of India||Cent Tax Saving Deposit||Rs. 100||6.60%|
|Syndicate Bank||SyndTaxShield||Rs. 100||6.60%|
|IDBI Bank||Suvidha Tax Saving Fixed Deposit||N.A||6.75%|
|Vijaya Bank||Vijaya Tax Savings Scheme||Rs. 100||6.50%|
Flexi FD : A Flexi deposit allows the depositor to link its fixed deposit account with a savings bank account. Your deposited money moves in between the fixed deposit and savings account. It is also popularly known as Sweep in- Sweep out fixed deposit. The facility allows you to earn higher interest rates on surplus amount in your savings account. Key Features of Sweep-In facility account are:
- A sweep-in facility facilitates automatic transfer of surplus funds from your savings deposit account into your fixed deposit account
- This facility allows you to earn a higher rate of interest on your deposited money which is generally higher than a regular savings account, while it varies from bank to bank, but in most of the cases you earn a 1 year FD rate when your money is swept from Savings Account to FD Account. Currently, 1 year FD rates are 6.00% to 8.25%
- With a sweep in facility you may also interlink multiple deposits to your Savings Bank Account
- You can withdraw the amount from your fixed deposit in case of any emergency without breaking complete FD or levying any penalty
- Banks do not levy any additional fees on this facility unlike overdraft facility
|Bank||Name of fixed deposit||Minimum deposit||Interest Rate|
|SBI||SBI Multi Option Deposit Scheme
Money Multiplier Plan
|ICICI Bank||Money Multiplier Fixed Deposit||Rs. 10,000||6.75%|
|Axis Bank||Encash 24 Flexi Deposit||Rs. 100||6.75%|
|Bank of Baroda||Money Multiplier Deposit||Rs. 500 for Rural and Semi Urban Branches and Rs. 1,000 for Urban and Metro Branches||6.60%|
|Allahabad Bank||Flexi Fixed Deposit||Rs. 25,000||6.60%|
|City Union Bank||Flexi Fix Deposit||Rs. 10,000||7.10%|
|RBL Bank||Flexi Sure Fixed Deposits||N.A||7.40%|
|Corporation Bank||Money Multiplier Deposit||Rs. 500 for Rural and Semi Urban Branches and Rs. 1,000 for Urban and Metro Branches||6.60%|
|OBC||Flexi Fixed Deposit Scheme||N.A||6.60%|
Other deposit accounts
Recurring Deposit Account-It is a special kind of term deposit to help people with regular incomes to deposit a fixed amount every month for a specified period of time. Interest on RD is compounded quarterly and the rate of interest remains unchanged during the tenure. The minimum tenure of RD is 6 months to 10 years. RD interest rate range from 4.00% to 8.50% depending on the amount of deposits, tenure of deposits and the bank.
Savings Account - This account is an interest bearing account generally opened by a customer to deposit his/her surplus income and use the same for transaction purposes as the deposited amount is completely liquid. The account is specially designed for individuals who earn a fixed salary or a fixed income. The account is completely liquid and comes with numerous facilities such as a debit card, internet banking, mobile banking and ATMs. This facility is also available to students, senior citizens, pensioners and so on. The interest rate on savings bank account vary from bank to bank depending upon the amount deposited in the bank account. Savings interest rate range from 3.50% to 7.00%.
Current Account - This deposit account is a non-interest bearing deposit accounts or nil interest rate account which is specially designed to cater to the needs of businessmen and professionals where they can park all their liquid funds and perform unlimited transactions. The account can be opened in the form of single or joint name of individuals, self-proprietorship, private or public company, HUF etc. The account may also come with cash credit or over draft limit to allow additional liquidity to businessmen to meet their urgent business requirements.
PPF Account - PPF or public provident fund is a saving cum tax saving scheme, introduced by National Savings Institute under Ministry of Finance in 1968. The objective of PPF scheme is to encourage savings by offering attractive rate of interest combined with the tax benefits.
Difference between Fixed Deposit and Recurring Deposit
|Fixed Deposit||Recurring Deposit|
|FDs enable investors deposit their savings and earn a high rate of interest compared to savings bank accounts||RDs inculcate a regular habit of savings among the public by allowing them to set aside a fixed amount of savings in the account every month|
|FD tenure ranges from 1 day to 10 years in most of the banks||The tenure of RD ranges from 6 months to 10 years|
|For Fixed Deposit, tax exemption under Section 80C of Income Tax Act 1961 is applicable||For Recurring Deposit, tax exemption under Section 80C of Income Tax Act 1961 is not applicable|
|Premature withdrawal is allowed with a penalty||Premature withdrawal with penalty is allowed|
|Interest on fixed deposit can be calculated on monthly, quarterly, half yearly, or yearly basis||The interest on RD is compounded quarterly|
Interest calculation on FD and RD
The following illustration explains the difference between a FD and RD in terms of amount of interest earned.
You have deposited Rs. 24,000 in a fixed deposit at the starting of the year 2017 and Rs. 2,000 per month in a recurring deposit for one year. Rate of interest on both deposits is 7% compounded quarterly. However, total interest earned on RD is lower than that on FD.
|Fixed Deposit||Recurring Deposit|
|Amount Invested (Rs.)||24,000 (lump sum)||2,000 per month|
|Interest Rate per annum (compounded quarterly)||7%||7%|
|Deposit Tenure||1 year||1 year|
|Total Interest earned in a year (Rs.)||1,725||924|
|Total Amount after One Year (Rs.)||25,725||24,924|
As you can see from the above table, the lumpsum money is deposited into FD once at the time of opening FD account as compared to RD where a smaller fixed amount is deposited in the RD account every month.
However, you earn a higher interest amount on FD because you deposit a lump-sum amount of money for the entire tenure compared to a FD where the amount of deposit is gradually built up with monthly deposits.
Frequently Asked Questions on Term Deposit
You can deposit a minimum amount of Rs. 1,000 in FD account but there is no upper cap on deposit amount.What are the documents required for opening FD?
The following documents are required for opening a Bank FD Account
- Identity proof
- Address proof
- Signature proof
- Age proof (for senior citizens)
Yes, senior citizens get extra benefit between 0.25 and 0.75 per cent interest rates on their FD.What is the minimum and maximum tenure for which I can open an account in FD?
You can open a fixed deposit account for minimum 1 day and maximum up to 10 years although it may vary from bank to bank.When do I become accountable for tax?
As per Income Tax Act, 1961 under section 194A when the interest earned on FD in a financial year exceeds Rs. 10,000, TDS is applicable on the credited interest. A depositor may also furnish Form 15G/15H to avail exemption from paying tax on his interest income.Who are eligible to invest in FD schemes?
The following are eligible to invest in FD schemes- Resident Individuals, HUFs, NRIs, Firms, and Charitable Trusts while others can apply for the scheme by submitting an offline application.Does investment made into term deposits provide any benefits?
Yes, investing in term deposits provides many benefits including a fixed rate return on your FD investment, flexibility to withdraw the FD at any time before its maturity. Besides this, an individual can also avail loans up to the amount invested in the FD along with the overdraft facility from the bank against the FDs.Can I redeem my fixed deposits before the original term?
Yes, an FD can be closed before its original term. If the FD is closed before completing the original term of the deposit, the interest will be paid as per the interest rate applicable on the date of deposit for the period it has remained with the bank. However, some banks may also levy a penalty prescribed by them on the date of deposit.When can I renew my FD?
The person may renew his/her FD on maturity by submitting a duly filled FD Application Form 15 days prior to the date of maturity along with the old FD receipt with revenue stamp of requisite value on it. However, your FD renewal will be subjected to the terms and conditions of the FD scheme as applicable on the maturity date of the old deposit.Can I take loan against fixed deposits?
Yes, many lenders offer the facility to take loans against fixed deposits. The bank generally provides loan on your FD up to the extent of 75-95% depending upon the lender and loan tenure. Usually, loan against FDs are considered as a great investment option at the time of financial emergency.Can I opt for an auto renewal facility while opening a FD?
Yes, you can opt for an auto renewal facility at the time of opening the FD account prior to its maturity. Auto renewal facility allows your FD to get renewed automatically for the same period as the original deposit. However, under the auto renewal option the time deposit receipt is with the bank’s custody and Memorandum of Deposit (MOD) is issued in lieu of fixed deposit receipt.Why do Fixed Deposit rate fluctuates?
The fixed deposit interest rate fluctuates due to changes in the prevailing macroeconomic conditions. The various factors responsible for the change in fixed deposit interest rate include a higher rate of inflation, liquidity condition and demand and supply conditions.