Fixed Deposit Interest Rates 2024: Analysts predict that deposit rates in India will remain high for an extended period due to strong credit growth, tight liquidity, and fierce competition for funds. Both large and small banks have raised their term deposit rates to secure funds for meeting credit demands.Last week, State Bank of India (SBI) … Read more
MUMBAI: SBI has hiked interest rates on its short-term fixed deposits by 50 basis points — its biggest increase in recent months. Deposits between 1 week and 45 days will fetch 3.5% as against 3% earlier. For senior citizens, the return on these deposits will be 4% versus 3.5% earlier.The bank’s 400-day Amrit Kalash scheme … Read more
Despite the Reserve Bank of India (RBI) hiking the repo rate by 250 points in the rate hike cycle since last year, deposit rates have not moved up as much as lending rates. The challenges to transmission of RBI’s rate changes have arisen due to ample liquidity conditions and a substantial portion of low-cost funds … Read more
Kolkata: A fresh deposit war is most unlikely even as banks are gearing up to meet higher credit demand in the coming festive season, with a majority of lenders looking to avoid raising deposit rates to protect their margins. They may instead use the excess liquidity buffer maintained in the form of statutory liquidity ratio … Read more