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FD Rates: Will 9% interest rate on FD dream? RBI may reduce the repo rate on Friday – FD Rates 9 Percent Fixed Deposit will be dream RBI May Deduct REPO RATE SBI HDFC

Fd rates: Will 8 to 9 percent interest rate on FD now dream? Actually, the Reserve Bank of India (RBI) can cut interest rates 25 basis points (0.25%) on Friday. Most of the experts believe that RBI may reduce the repo rate this time. If this happens, the interest found on Fixed Deposit can be reduced. The government has not made any changes in interest rates for the last 2 years. Now if the interest is low then the interest on saving can be reduced.

Will RBI reduce interest rate?

RBI has kept the repo rate stable at 6.5% since February 2023. There has been no change in the last 2 years. Now that inflation is under control and focus in the budget is also on increasing the consumption. Earlier in May 2020, the RBI had cut interest rates during the Covid-19 epidemic. And after that it was gradually increased to 6.5%. Now due to slow consumption, RBI can make the debt cheaper, which increases cash liquidity.

Repo rate will be announced on 7 February

RBI will announce the repo rate on 7 February. If RBI also cuts rates, the interest rate on FD may be reduced. In such a situation, there is a big question for investors that it will be right to invest in FD right now. Especially when interest rates are expected to fall.

Right now many banks are offering 9 % interest on FD

Many Samall Finance Banks are offering 9 percent interest in the country. In such a situation, if the RBI repo rate decreases, then the interest on FD may decrease. Now the time of rising interest rates is over or common people can take advantage of the current interest rates of FD. If the repo rate decreases, the banks will also reduce the interest rate on FD. Many small finance banks are offering 9.0% to 9.% interest to senior citizens. One of these Unity Small Finance Bank Senior Citizen is giving an interest rate of 9% on FD. Public and private sector banks are offering 8 % interest on FDs.

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