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Canara Bank and Indian Bank have announced reductions in their lending rates, a decision influenced by the Reserve Bank of India's (RBI) recent cut in the repo rate from 6.25% to 6.00%.

RBI's April policy meeting minutes suggest a potential third repo rate cut in June, driven by moderated inflation and sluggish economic growth. The MPC has shifted to an 'accommodative' stance ...

reason to lower borrowing costs in the next repo rate decision. Inflation came in at a softer 2.7% in March, from 3.2% in February. The inflation reading released by Stats SA on Wednesday beat ...

The rate revision comes amid similar moves by other major banks, including SBI, HDFC Bank, ICICI Bank, Yes Bank, IDFC Bank, and Canara Bank, who have also slashed their FD rates on select tenures.

But looking back on CD history, we see periods where rates sat just above zero for years on end—while at other times, you could earn a remarkable double-digit interest rate on your savings.

As expected, the RBI has reduced the repo rate to 6% from 6.25%. This marks the second consecutive rate cut this year, following a similar reduction in February. This move is important for homebuyers, ...