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The Economic Times
The Economic Times
Sneha Kulkarni

Highest senior citizen FD interest rates after RBI repo rate hike: Public vs private vs small finance bank rates of 3 and 5-year fixed deposits

RBI Small Finance Bank Interest Rates Senior Citizen Bank of India Bank of Baroda Canara Bank IndusInd Bank Jana Small Finance Bank Monetary Policy Committee

The Reserve Bank of India (RBI) increased the repo rate from 5.25% to 5.50% in its Monetary Policy Committee (MPC) meeting today (Wednesday, October 7). Following this announcement, banks are expected to increase their fixed deposit (FD) interest rates over time.

Adhil Shetty, CEO, Bankbazaar, says some banks revise FD rates within a few days of an RBI policy change, while others may wait for several weeks, depending on their funding requirements and liquidity position.

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