LIC Housing Finance Ltd has hiked interest rates for public deposits by 10-35 basis points across one-five year tenures from today, the company said in a newspaper notice.
The revision comes after the Reserve Bank of India increased the repo rate by 35 bps to 6.25% on Dec 7.
For deposits of up to 200 mln rupees, the revised rates are in the range of 7.00-7.50%. For deposits above 200 mln rupees, the housing finance company has hiked interest rates on public deposits by 50-65 bps and the rates are now in a range of 6.75-7.25%.
Several financial institutions have recently revised their fixed deposits rates on select maturity periods, in line with the RBI's policy outcome.
Bajaj Finance had hiked rates on fixed deposits by 25 bps on some tenures on Dec 22.
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