Expected change in interest rate
This query is : Resolved
DHAVAL JOSHI
(Querist)
16 September 2011
Would the step of RBI to increase the Repo Rate by 25 basic point result in increase of interest rate on FD?
CA Pushpendra Gaur
(Expert)
17 September 2011
it will directly increase the rate at which you take loan from bank and consequently your EMI, increasing FD interest is Bank's policy whether to increase or not
18 September 2011
Increase is not automatic for deposits received by bank but the increase affects the landing . Hence, it depends on the banks to increase the FD rate it might and may not increase. The management is to decide about it.
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