New Delhi, Aug. 18 -- Before opening a fixed deposit (FD) account, it is advisable to compare the interest rates offered by different banks for the same duration.

Although most banks offer almost similarinterest on their fixed deposits but a tiny variation of 50 basis points may bring a significant difference to the overall return over a long period of time. For example, on a fixed deposit of Rs.10 lakh, an extra 50 basis points ofinterest can lead to a higher income to the tune of Rs.25,000 over a 5-year period.

Notably, small finance banks and non-banking financial corporations (NBFCs) offer slightly higher interest rates.

Without much ado, we compare the interest rates offered by six different banks on theirfive-year term deposits. ...