New Delhi, March 8 -- When you are planning to open a fixed deposit, it is recommended to compare the interest rates offered by different banks so that you can choose the one which offers the highest one.

Typically, a long tenure fixed deposit offers a higher interest rate. We list out the interest rates offered on 3-year term deposits by top 7 banks - both private and public sector. Meanwhile, it is important to note that a marginal difference of, say, 50 basis points in interest rates can lead to higher savings over a long period of time.

For instance, if one bank offers 50 basis points higher interest on a fixed deposit of Rs.10 lakh, the higher income on account of 50 basis points can lead to an extra income of Rs.15,000 in three ye...