Banks hike FD rates. Good time to invest in fixed deposits?
- The interest you can earn on your bank fixed deposit (FD) depends on multiple factors
After three consecutive repo rate hikes by the Reserve Bank of India (RBI), several banks have raised interest rates on fixed deposits (FDs). HDFC Bank, ICICI Bank, IndusInd, IDBI Bank are among those lenders that have hiked interest on term deposits recently. Smaller and new private banks are also offering lucrative rates to general public as well as senior citizens. In August, the central bank increased repo rates by 50 basis points to 5.4 percent.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more