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FD interest rates: RBI holds repo rate; deposit rates may still go up, here s what depositors should do
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Competition In Short Term Bond Chart Increases
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The savings charts remain volatile this week, with new rates constantly being introduced and withdrawn. Overall, many of last week’s top rates remain available with the top rate in the two year chart improving week-on-week, but demonstrating how volatile the savings charts are at the moment, the top rate in the one year fixed bond charts has fallen.
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Synopsis
Some smart moves can surely help you make the best of the current scenario. Here is a look at what FD investors should know and do to enhance their return on deposits.
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Fixed deposit investors who were expecting the Reserve Bank of India (RBI) to increase key policy rates, will have to wait longer. That is because for a seventh time in a row (or for almost a year), the RBI, in its bi-monthly monetary policy meeting, has kept the repo and reverse repo rates unchanged. The repo rate and reverse rate remain at 4% and 3.35%, respectively, after the announcement on June 4, 2021.