News > 5 Banks Raise Interest Rates On Saving Deposits

5 Banks Raise Interest Rates On Saving Deposits

Reserve Bank of India had hiked the repo rate by 50 basis points on June 8, 2022, and 40 basis points on May 4 to 4.9% (100 basis points= 1 percentage point).

After RBI's move to hike the rate, many major and small banks opted to hike their interest rates that may include- Axis Bank, HDFC Bank, Kotak Bank, DCB Bank, RBL Bank, Yes Bank, IDFC Bank, and Bandhan Bank.