The RBL Bank has revised the interest rates of fixed deposits for amounts below Rs 2 crore. The revised FD interest rates are effective from May 1, 2024. Check on which tenure the bank is offering the highest interest rate.
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.
Investors seeking higher interest rates are turning to the Government of India Floating Rate Bond 2034, which offers an annual interest rate of 8.05% from October 2023 to April 2024.