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 ₹15,000. Now, imagine if the amount of deposit is ₹20 lakh, the extra income earned could ...