80% of all term deposits are in the Rs 1.5-10 mn range, 60% from metros

Eighty per cent of the overall term deposits are either in Rs Rs 1.5 million to Rs 10 million range, and are primarily mobilised in the one to three-year bucket window, revealed a study by Kotak Institutional Equities. At least 50 per cent of the deposits are still in the 7-8 per cent interest rate bucket. This has seen a 10 percentage points increase in the first quarter of fiscal year 24. "We should see deposit rates peaking over the next two quarters as the re-pricing cycle is still not fully complete," said MB Mahesh, CFA at Kotak. 

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