For the first time in years, and 8% positive deposit interest rates

Mumbai: due to the Bank to chase customer for a cheap deposits and there is no results, they are now forced to offer more than the real interest rate, inflation rate deposit account in Punjab and Sind of state-owned Banks, led by the Bank at the top of the list, offers a cool 8-8.50% a year.Banks are forced to provide 200-800 days better than deposit rates of inflation, because credit growth is much more than the whole fiscal year deposit mobilization, lead to tight money.

Even the lowest 7%, deposit pricing for customers is positive, because even in retail inflation unexpectedly surged to 6.52% in January, after the real interest rate is still in the green.The rate of inflation in 2022 10 months more than 6%, force the reserve bank since May 2022 for six times and raised interest rates by 250 basis points to 6.50%.

On January 13, 2023 in two weeks, the credit to an annualized rate of 16.5%, and deposit rate is 10.6%. In fact, almost all the year round, deposit growth has been in a medium low single digits, the recent surge is due to the deposit interest rates rise since December.Even from the other perspective, the interest rate is better, because the one-year deposit interest rates as low as 6.6%, the post office two-year deposit interest rates as low as 6.8%, and the yields on ten-year government securities is only 7.35%.Since may of last year, the bank has almost will the RBI raised interest rates by 250 basis points fully passed on to the borrower, thus higher interest rates release comes, they do not have to deposit in so doing, lead to the funding gap and forced them to borrow from the market.Deposits according to the new pricing, public sector bank any depositor can ensure an average of 7% to 7.25% of the time deposit, term ranging from 200 days to 800 days.The nation's largest Banks state bank of India has the largest retail franchise, with about 20000 branches, within 400 days of deposit annualized basis, provide the public with a 7.10% interest rate, higher interest rates of 7.60% for the old.Punjab and Sind Bank depositors sell to mold provides the highest interest rate of 8%, provide the elderly with the highest rates of 221 days8.50%India's central bank to the elderly and retail 7.85% to 7.35% of the 444 days of the second preferential interest rates, and the union bank of India will be priced its 800 - day deposits were 7.30% and 7.80% for retail and the elderly.Punjab national bank in its 666 - day period is respectively 7.25% and 7.75% of the retail and the old rates, the bank of baroda pricing for 399 days of 7.05% and 7.755%; Indian Banks offer the same rate as the bank of baroda, deadline for 444 days, and the state of maharashtra Banks of the new interest rate of 7% and 7.50%, period for 200 days.In 400 days, Canara Bank provide rates were 7.15% and 7.65%; Bank of India for its 555 - day deposits pay interest of 7% and 7.50%; Uco Bank 666 days of interest rate were 7.15% and 7.25% respectively; And 7.50% of Indian overseas bank to provide a 7% interest rate, time limit for 444 days.HDFC bank's biggest private bank, on the other hand, only 7% of the rates offered to the public, to supply 7.50% of the elderly depositors five annual interest rate, and its direct counterparts ICICI bank to provide retail for more than 15 months of 7% interest rates more than 15 months for 75% of the elderly