New Delhi, Sept. 18 -- Before opening a fixed deposit (FD) account with a bank, it is important to compare the interest rates of different banks. One could argue that most banks offer almost similar interest rates, but even a small difference of, say, 50 basis points can lead to a significant change in the total earnings.

For instance, a difference of 50 basis points on a fixed deposit of 10 lakh for three years can lead to an extra income of Rs.15,000. Now, imagine if the amount of deposit is Rs.20 lakh, the extra income earned could be Rs.30,000.

Here we compare the highest interest rates offered by different banks:

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