Many banks and financial institutions are offering interest rates above 7%. If the inflation rate has increased to 7.4 percent in September, then the offer of interest rate of 7 percent or more is going to be very attractive.

DCB Bank is offering an interest rate of 7.5 percent on a three-year FD. At the same time, 7.5 percent interest is being given annually by AU Small Finance Bank on FDs maturing in three years.

Apart from this, Bandhan Bank, Citi Union Bank and Karur Vysya Bank are offering 7 percent interest rate to customers on three-year deposits. The new interest rate has been announced by most of the banks after increasing the repo rate by RBI.

Gaurav Aggarwal, Senior Director of Paisabazaar, says that the increase in the interest rate on fixed deposits is for a short time. In such a situation, if you can invest then this is a good time. Let us tell you that after the increase in the repo rate by the RBI, the banks have increased the interest rate.

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