NEWS & ADVICE : FIXED DEPOSITS
Deposit rate hike anticipated by CRISIL
By Neelima Shankar
Oct 12, 2010
Print    Email    RSS   

Deposit rates by banks are expected to see another set of rise.

According to the credit rating agency, CRISIL, banks are expected to raise interest rates of deposits in the upcoming few months. The rise can be more steep if there is a corresponding revival in credit offtake, it added.

"This may be accentuated if the central bank announces any further rate hike in the second half," Crisil said.

Deposit rates have so far been increased by atleast 50-100 basis points by banks.

The monetary policy review is coming on November 2 and along with it is expected another rise in policy rates.

According to Suman Chowdhury, Head-CRISIL Ratings, "Credit offtake will be substantially higher in the second half of 2010-11. This is because credit demand in India is by nature back-ended, given the festive and agricultural harvest seasons in the second half of each year. Moreover, banks have sanctioned loans to a slew of large infrastructure projects, which have obtained the necessary approvals and mobilised equity, and may now begin to draw down loans."


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Fixed deposits in India: Benefits,...
Investment options to Save Tax under...
Fetch higher interest rate on your savings...
Regular fixed deposits in India: Great way...
Carnival of Indian Personal Finance Blogs #2


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