NEWS & ADVICE : FIXED DEPOSITS
Best time to invest as interest rates on fixed deposit rise
By Neelima Shankar
Nov 13, 2013
Print    Email    RSS   

Banks are now offering a better deal for depositors, the rate of interest for short term deposits have gone up, for the deposits whose maturity date is below a year, this is to help the base of retail deposits as well as meet the increasing demand for the growth of strong credit.

Since a couple of days, Banks like Axis Bank, Allahabad Bank, oriental Bank of Commerce, Punjab National Bank, Canara Bank, Union Bank of India and State Bank of India have hiked the rates for fixed deposits. The interest rates for fixed deposits between Rs. 1 crore and Rs, 10 crore, whose maturity date is anywhere between 180-270 days, has gone down from 8.25 percent to 8 percent.

The RBI, in the recent review of the monetary policy which was on October 29, decided to increase the repo rate by 25 basis point to 7.5 percent. However, the marginal standing facility has reduced to 8.75 percent, a reduction of 25 basis points.


(Comments Posted : 1) Post Your Comments
1. I feel currently interest rate are going up and one should invest for long term now.... Suresh http://myinvestmentideas.com
Suresh (Posted: Nov 13, 2013)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Manage your FD in a better way
Do you know what led banks to calibrate...
Infrastructure bonds: another tax saving...
The new avatar of savings account would...
Things you should know while filing income...


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive