ICICI, Indian Bank raise FD rates after RBI repo hike
In short
Several banks, including ICICI Bank and Indian Bank, have raised fixed deposit rates after the RBI increased the repo rate. ICICI Bank is now offering 6.60% for general customers and 7.20% for senior citizens on some tenures.
This matters for savers because FD returns are moving up. The report does not give the full list of tenures or show whether other banks will make more changes.
What the reporting says
Several banks, including ICICI Bank and Indian Bank, recently raised fixed deposit interest rates after the Reserve Bank of India increased the repo rate. The publisher summary says ICICI Bank now offers 6.60% for general citizens and 7.20% for senior citizens on select tenures, while Indian Bank also lifted rates on specific FD options. The reporting does not list the full set of tenures or whether other banks changed rates further.
Why it matters
Several banks, including ICICI Bank and Indian Bank, increased fixed deposit rates after the Reserve Bank of India raised the repo rate. The summary gives ICICI Bank’s new rates of 6.60% for general citizens and 7.20% for senior citizens on select tenures, and says Indian Bank also raised rates on specific FD options. This affects depositors and banks’ funding costs, but the reporting does not provide the full rate table or the timing of each change.