Ahead of the December 6 Reserve Bank of India (RBI) Monetary Policy Meet, several banks have revised their fixed deposit (FD) rates for various tenures. Karnataka Bank and Canara Bank are the latest to make changes to their FD rates. Fixed deposits offer a fixed rate of interest over a predetermined period, making them a low-risk savings option for investors. Most banks provide slightly higher interest rates to senior citizens for FD schemes across tenures. IDFC First Bank, Canara Bank, IndusInd Bank, and Karnataka Bank have updated their FD interest rates. These rates may be of interest to investors seeking stable returns. The RBI MPC meeting, led by Governor Shaktikanta Das, started on December 4, and the announcements are expected on December 6.
Karnataka Bank, Canara Bank, IDFC First Bank, and IndusInd Bank preemptively adjust fixed deposit interest rates before the upcoming RBI Monetary Policy Committee meeting.
by newsworm | Dec 4, 2024 | Banking, Canara Bank, IDFC Bank, IndusInd Bank, Karnataka Bank, RBI