Banks Adjust Fixed Deposit Rates Following RBI's Repo Rate Hike

Several banks, including ICICI Bank and Indian Bank, have adjusted their fixed deposit interest rates following the Reserve Bank of India's (RBI) recent repo rate hike. ICICI Bank increased its FD rates by 10 basis points on select tenures, while Indian Bank raised rates on specific FD options. HDFC Bank and SBI have not yet revised their FD rates.

Key facts

• ICICI Bank increased FD rates by 10 basis points on select tenures.
• Indian Bank raised rates on specific FD options.
• HDFC Bank and SBI have not revised their FD rates.
• RBI increased the repo rate from 5.25% to 5.50%.

Sources

• The Economic Times