Check new FD rates for SBI, IndusInd, Axis, Kotak, Canara, and Yes Bank.

Reserve Bank of India's monetary policy committee raised the benchmark repo rate by 50 basis points in August, to 5.4%.

This was the third jump in a row. As a result of the increase in the repo rate, interest rates on bank loans and deposits have risen.

State Bank of India (SBI), the country's largest lender, raised interest rates on fixed deposits of less than Rs 2 crore on August 13, 2022.

On August 12, 2022, IndusInd Bank announced a rate increase for fixed deposits under 2 crore.

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