The high rate offering on fixed deposits (FDs) also comes as banks have almost fully passed on the 250-bps hike in RBI rate since May last year to their borrowers
Most banks are revising their term deposit interest rates after the Reserve Bank of India (RBI) increased its key repo rate by a 50-basis point taking it to 5.9 per cent last month. This is the fourth time since May the central bank has increased the repo rate.