GalaTime

While looking for a site that compares fixed deposit interest rates across India banks (PSU & private), I found IndiaAtBest:

As I was about to celebrate, I noticed the “with effect from” dates - this table was created in 1999! Dejection gave way to curiosity- what does a historical chart of fixed deposit rates look like?

I found a 2004 Businessworld article with the following data:

• Early 1970s: Deposit rates (3 to 5-year maturity) hovered around 6.5-7%
• Mid-1970s: Deposit rates rose to 9%
• 1980s: Deposit rates hovered around 10%
• 1991-92: Deposits fetched 13%
• 1992-93: Maturity-wise prescriptions were replaced by a single ceiling rate of 13% on all deposits above 46 days, per this RBI publication

But thankfully, I found this table while digging through the RBI database - note that interest rates bottomed in 2002-03 and have risen significantly since!