FD: Reserve Bank of India Governor Shaktikanta Das today announced a big decision regarding the repo rate. RBI did not make any change in the repo rate this time too and kept it at 6.5 percent. In such a situation, fixed deposit investors will continue to get the benefit of increased interest on their investments.
It is important to think about this before getting FD
To take advantage of the current interest rates, investors can think of getting an FD in the short to medium term, so that they can get increased interest on the principal amount. It is also possible that interest rates may be cut in the future. Bank Bazaar CEO Adil Shetty says, “FD investors should take the decision considering the current interest rate and the changes in it in the coming time.” If inflation pressure reduces next year, RBI may reduce repo rate.
Inflation rate is the main factor
According to Business Standard, considering the risks of continued high inflation rate, the bank may not cut the repo rate in February, but nothing can be said about what will happen after this. In such a situation, investors can think about investing in FD with a time limit of 4 to 6 months. He said, “For there to be no cut in interest rates, it is necessary that the risk of inflation increasing is negligible.”
Interest rates vary across banks
The interest rate on FD is different in every bank. In such a situation, it is important that before investing, it is important to see where the money is invested and where higher returns are expected.
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