Now Reading: RBI holds repo rate at 5.25%, Punjab & Sind Bank and PNB offer up to 7.40% on FDs
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RBI holds repo rate at 5.25%, Punjab & Sind Bank and PNB offer up to 7.40% on FDs
RBI holds repo rate at 5.25%, Punjab & Sind Bank and PNB offer up to 7.40% on FDs
The Reserve Bank of India has kept the repo rate unchanged at 5.25%, reducing chances of an immediate big shift in fixed deposit rates. Punjab & Sind Bank is offering general customers…
The Story in Brief
The Reserve Bank of India has kept the repo rate unchanged at 5.25%, reducing chances of an immediate big shift in fixed deposit rates. Punjab & Sind Bank is offering general customers up to 6.85% on select tenures, with senior citizens getting 7.35% on a 666-day FD. Punjab National Bank pays general customers up to 6.60%, while super senior citizens can earn 7.40% on a 444-day deposit.
For one-year FDs, PNB gives 6.25% to general customers, 6.75% to seniors and 7.05% to super seniors. Punjab & Sind Bank offers 5.85% on one-year FDs for general customers and 6.35% for seniors. Experts advise comparing rates across tenures and checking early withdrawal rules before investing.
The Indian Opinion
The repo rate freeze is being spun as good news for FD investors, but the truth is more measured. At 5.25%, real returns after tax and inflation disappear for most savers. The real test will be whether banks pass on any deposit rate hikes in coming months, not the static policy rate.
Source: bazaar.businesstoday.in
This story was synthesised by AI from the source linked above.
