Fixed deposit interest rates are on the rise, and the majority of banks are now promising returns that outpace inflation as a result of the Reserve Bank of India s (RBI) uptick in the repo rate of 250 basis points (bps) since May 2022.
But so far, two small finance banks are providing the highest FD rate in the nation. For deposits with a 700-day tenor, Utkarsh Small Finance Bank (SFB) is now giving a maximum interest rate of 8.25% for the general public and 9.00% for elderly individuals.