Rising interest rates: Will fixed deposit (FD) rates breach the 7% mark?3 min read . Updated: 10 Aug 2022, 07:12 AM IST
- Whenever policy rates start going up, the banks start hiking the interest on FD rates
Bank fixed deposit also known as term deposit is one of the most popular investment products in our country. Bank FDs are preferred by investors of all ages as they are considered safe and can be easily liquidated whenever needed. Amid the Covid pandemic, during the last 2 years fixed deposit (FD) investors saw their returns declining but things are improving now. With the Reserve Bank of India (RBI) hiking repo rates to tame rising inflation, the banks are too expected to pass on the benefits to customers. Whenever policy rates start going up, the banks start hiking the interest on FD rates.
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