A few weeks back it was decided by banks that they would reduce their fixed deposit rates in order to escalate the CRR i.e the base rate, which is the minimum lending rate. But now the banks have put their decision of cutting down on deposits.
In fact, fixed deposit rates have increased and even public banks in their recent notice to the stock exchange have declared their decision of revising the fixed deposit rates.
As per the amendments, the following changes were made:
• Fixed deposit rates will be increased from 8% to 8.25% per year for fixed deposits of 151-179 days and 180-269 days respectively
• Fixed deposit rates for 1-2 years deposits will increase from 8.75% to 9%
• Fixed deposit rates for NRE deposits will increase by 0.25% for a deposit of 1-2 years.
Summary: With a hike in fixed deposit rates, people have started investing more in fixed deposit.
In fact, fixed deposit rates have increased and even public banks in their recent notice to the stock exchange have declared their decision of revising the fixed deposit rates.
As per the amendments, the following changes were made:
• Fixed deposit rates will be increased from 8% to 8.25% per year for fixed deposits of 151-179 days and 180-269 days respectively
• Fixed deposit rates for 1-2 years deposits will increase from 8.75% to 9%
• Fixed deposit rates for NRE deposits will increase by 0.25% for a deposit of 1-2 years.
Summary: With a hike in fixed deposit rates, people have started investing more in fixed deposit.
No comments:
Post a Comment