Business News Desk,In the year 2022, to control the rising inflation across the world, central banks of many countries have increased their interest rates. It also includes the name of the Reserve Bank of India. RBI has increased its interest rates a total of 6 times since May 2022. In the last few months, many banks have increased the interest rates of their savings account, fixed deposit rates several times. Yesterday, the Reserve Bank has once again increased the repo rate by 25 basis points.
How beneficial is it to invest in FD?
According to the report published in Live Mint, Infotech MD Archit Gupta has said that after the increase in the repo rate of RBI, it will have a direct impact on the borrowers. Whereas, the old customer will have to pay higher EMI on home loan, car loan, education loan, personal loan etc. Archit Gupta further said that after the increase in the repo rate, the bank will definitely offer a higher interest rate. on FDs to its customers. Doing.
Know about the latest FD interest rates of banks
Let us tell you that at present the country’s top public and private banks like SBI, Axis Bank, ICICI Bank, HDFC Bank and Kotak Mahindra Bank are offering interest rates ranging from 3% to 6.35% on their FDs of less than 2 years. . Customer.