Interest rates on bank deposits seem to have now peaked.
Axis Bank has cut interest rates by 20 basis points recently.
Axis Bank now offers interest rates between 3.5% to 7.10% on various tenures.
PNB too has cut interest rates by 5 basis points, which is not very large.
Deposits maturing in 1 year now attract an interest rate of 6.80% in place of 6.75%
The RBI recently held interest rates steady for the second successive policy.
It's time to invest in fixed deposits now ahead of interest rates being cut further.
Ideally, investors should look to invest for 1-year and beyond.