IDBI Bank has discontinued Utsav FD with tenures of 300 days and 375 days from April 16, 2025. The validity of the remaining special tenures has, meanwhile, been extended until June 30, 2025. In a tenure of 444 days, IDBI Bank has cut fixed deposit interest rates from 7.35 to 7.25 percent per annum. In … Read more
Within a week of Reserve Bank of India (RBI) cutting its repo rate by 25 basis points, the largest bank in India – State Bank of India (SBI) – has cut its interest rate on fixed deposits (FDs) by 10 basis points. On an FD of one year, SBI has cut fixed deposit (FD) by … Read more
At the time of opening a fixed deposit (FD), it is advisable to compare the interest rates offered by different banks. Importantly, some banks have started to slash their rates in the wake of RBI cutting benchmark repo rate after nearly five-year hiatus. Even a tiny difference – say of 50 basis points– can lead … Read more
Early this month, Reserve Bank of India (RBI) cut its repo rate to 6.25 percent. Following this, a few banks have followed suit. A couple of banks have cut their interest rates on term deposits, albeit marginally. It is even recommended that the depositors who want to lock their savings in fixed deposits can do … Read more