Rate of Interest on fix deposits in india?

Traditionally we all believed that all banks in India provide (more a less) same rate of interest on Fix deposits and saving A/cs.

1. But recently I have noticed ICICI bank is offering 9.5% p.a. rate of interest for a fix deposit for 590 days, and interest of 9 % p.a. for a deposit for 390 days. All interest rates are compounded quarterly.
2. Interest rates on fixed deposits of banks vary from one bank to another. It depends on the need of the bank to gather more deposits to show healthy deposit growth, ability to deploy the deposits as more interest earning loans etc.
   As you have pointed out ICICI has announced 9.5 percent interest , but SBI has announced 10 percent deposit rate.Most of the other banks too have raised their deposit rates.This type of rate hikes mostly occur during the *** end of the financial year, when banks find that their deposit base has not shown any improvement over the last year figure and just to attract more deposits, to show a healthy balance sheet , they offer higher rates.But the difference will not be as high as u mentioned.Difference in rates of different banks normally will be half percent to one percent only
   There is nothing hidden in that and the above mentioned reasons are the real reasons
3. Whereas other banks give interest of 6-6.5% p.a. for similar period. How can there be so much of difference?
4. Is there anything hidden in these? Can anyone please explain it?

Tags: NSE