2 min read.Updated: 18 Aug 2022, 10:59 AM ISTLivemint
SBI, Bank of Baroda, Axis Bank recently launched special FD schemes offering higher interest rate
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Several lenders, including the country’s largest bank, State Bank of India (SBI), have raised interest on deposit rates in order to woo customers with higher fixed deposit (FD) interest rates. As the Reserve Bank of India (RBI) is hiking the repo rates in order to tame the inflation, banks are expected to pass on the benefit to customers. The banks in turn are hiking the rates on term deposits.
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