HDFC Bank FDs and Punjab National Bank FD rate hike: Both the banks have hiked their interest rates after the Reserve Bank of India raised its repo rate on September 30. These rates are applicable for deposit amounts less than Rs 2 crore.
State Bank of India (SBI) and Punjab National Bank (PNB) have increased their fixed deposit (FD) interest rates. The development comes close on the heels of the RBI ramping up efforts to control excess liquidity from the banking system.