News From Press Why rising interest rates don't make FDs attractive

Why rising interest rates don't make FDs attractive

Source: Mint Aug 25, 2022

With the Reserve Bank of India (RBI) raising the repo rate by 1.40 percentage points over three policy reviews, interest rates on fixed deposits (FDs) have inched up in the last few months. The rates of 3-year and 5-year tenure FDs offered by major banks like ICICI, HDFC and SBI are in the range of 5.5-6.1%, up from 5-5.3% before the rate hikes.

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