ICICI Bank offers 7.40 percent to one-year fixed deposits (FDs). It falls to 7.30 percent when the tenure is increased to anywhere between 390 days to 15 months
India Business News: HDFC Bank has increased fixed deposit interest rates for select tenures. Earn up to 7.75% on your FDs. Find out the latest FD rates here.
After RBI decided to retain the repo rate at 6.5 per cent, experts said the short-term fixed deposit schemes may see an upward rate revision, while the longer-term rates may remain flat in the coming months.
Fixed deposit investors should be prepared for a downward trend in interest rates. The 10-year government bond yield has already fallen and is expected to continue decreasing. Whenever interest rate starts falling, the short to medium-term FD rates will be affected first, so investors should consider booking their FDs soon.