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Choose instruments with a higher lock-in period to get better returns

Experts say this is still a good time to get locked into good rates before other banks also start cutting them aggressively

Bindisha Sarang & Sanjay Kumar Singh 

Last week, the country’s largest bank – State Bank of India (SBI) – cut the marginal cost of lending rate by five basis points, which is good news for borrowers. But it slashed deposit rates by 10-50 basis points.

Clearly, fixed deposit (FD) investors would take a bigger knock. Others like Bank of Baroda have also revised their rates downwards. And there are expectations that with banks moving to repo-based lending rates for retail and micro small and medium-scale enterprises, based on the Reserve Bank of India’s diktat, deposit rates will come under further ...

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First Published: Thu, February 13 2020. 00:12 IST
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