Amid falling interest rates on FDs, these 4 investment options offer up to 8.6% interest rate
Amid falling interest rates on FDs, these 4 investment options offer up to 8.6% interest rate New Delhi: The Reserve Bank of India has cut the repo rate for the fifth time in a row to give a further boost to consumption and private investment in a bid to revive growth as inflation remained within the central bank's comfort level. The RBI cut the repo rate by 25 basis points to 5.15%. Following the suit, banks have cut interest rates on loans and fixed deposits (FDs). A fixed deposit is among the most preferred investment option among senior citizens and retirees. State Bank of India (SBI), the country's largest lender, has cut interest rates on fixed deposits (FDs) for the second time in a month. SBI reduced FD rates by up to 30 basis points on select maturities on Wednesday. The lender also reduced its Marginal Cost of Funds based Lending Rate (MCLR) by 10 basis points across all tenors. Given below are four options that are currently offering int...