Bank Fixed deposit rates may rise soon

Over the past year one year fixed deposits have returning a mediocre 5 to 7 per cent compared to the 74 per cent that investing in equities would have earned you or the 25 per cent that you could have earned by investing in gold.

It seems like the appeal of fixed deposits may start to rise again as banks may choose to raise deposit rates to draw in more investors.

ING Vysya became the first to hike deposit rates by 50-125 basis point across maturities taking the interest rate on 92 day fixed deposits to 5.25 per cent and one year deposits to 6.75 per cent.
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