FD interest rates, Aug. 21 -- Before you open a fixed deposit account, it is recommended that you compare the interest rates offered by different banks-both private and government-owned. Although most banks tend to offer similar interest rates, it is still better to compare them because even a marginal difference of 50 basis points can lead to a significant difference in interest over a period of time.

For example, an extra interest of 0.5 per cent on a term deposit of Rs.10 lakh leads to a higher interest (before tax) of Rs.5,000 in one year.

Here, we compare the latest interest rates offered by different banks on their one-year term deposits.

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