Bank FD rates: Kotak, Axis, IDBI Bank revises fixed deposit rates. Details here
Bank FDs become attractive as banks offer over 7% interest after RBI pause on rate hikes. Revised rates by Kotak Mahindra Bank, Axis Bank, IDBI Bank
Bank Fixed Deposits (FDs) have become attractive in 2023 as several banks are now offering over 7% interest to general customers. After the Reserve Bank of India (RBI) decided to hit the pause button for repo rate hikes, banks have slowed down in hiking FD rates. After six consecutive rate hikes aggregating to 250 basis points (bps) since May 2022, the rate increase cycle was paused by the central bank in April.