Do You Get Good Rate Of Interest On Your Money If You Deposit It In The Banks?

There used to be a time when people used to get 18% interest per year for the deposits they used to keep in the bank for a some fixed term.

With the time the rates have drifted down and today we hardly get 7.5% per year on term deposits from bank!

Do you get good rates of interest on the deposits you make with the banks in your country? If Yes what are the normal rates of interest on term deposits?

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Updated: June 23, 2019 — 10:15 am

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Adapala Koteshwar Rao

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  1. One of the reasons I am not motivated in keeping my money in savings account with any bank is the interest rate. The interest rate on savings account is very low.

  2. I work in a bank and I’d say that the interest rate for savings deposit is very minimal and even with time deposit you cannot get more than 5% interest per year. They say that the economy is good that’s why the interest rate is low and it will go up when the economy goes down.

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