HomeNewsBusinessEconomyRBI ups savings deposit rate; lending rates to go up now

RBI ups savings deposit rate; lending rates to go up now

Banks are most likely to raise their lending rates, following the Reserve Bank of India’s decision to raise savings deposit rate by 50 basis points to 4%. Savings deposits are the cheapest source of funds for any bank, and the RBI move will pinch their net interest margins.

May 03, 2011 / 15:34 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Saikat Das
moneycontrol.com

Banks are most likely to raise their lending rates, following the Reserve Bank of India

first published: May 3, 2011 02:31 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347