RBL Bank revises interest rates on retail fixed deposits: Now get up to 7.25%3 min read 01 Oct 2022, 09:23 AM IST
RBL Bank, a lender in the private sector, has changed the interest rates on fixed deposits under ₹2 crore
RBL Bank, a lender in the private sector, has changed the interest rates on fixed deposits under ₹2 crore. On October 1, 2022, the new rates will go into effect, according to the bank's official website. The impact of the RBI's repo rate hike to 5.90%, which was announced on Friday, resulted in the interest rate hike of RBL Bank today. RBL Bank will now provide a maximum interest rate of 7.75% for senior citizens and 7.25% for the general public on deposits maturing in 725 days, which is higher than the 7% retail inflation as determined by the Consumer Price Index (CPI), which soared in August.
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