New Delhi, Feb. 17 -- The Reserve Bank of India (RBI) cut its repo rate from 6.50% to 6.25%, a 25 basis point decrease. This presents a problem for investors in Fixed Deposits (FDs) because a decrease in the repo rate usually indicates a future decrease in bank interest rates. This is the last chance for FD investors, particularly senior citizens, to lock in higher rates before banks start cutting them.

Small finance banks often offer attractive interest rates on Fixed Deposits (FDs) for senior citizens, typically higher than those of major commercial banks. These banks focus on serving underserved sectors and may offer better rates as part of their strategy to attract deposits.

Unity Small Finance Bank offers attractive Fixed Deposit (...