Savings rate deregulation – Here’s all you need to know!

As part of its deregulation drive, Reserve bank of India has deregulated interest rates on all deposits (except the saving deposit) long back. This step increased competition among banks and now depositors have the choice to figure out the highest fixed deposit rate and use the bank that offers it.

Recently, RBI has also deregulated the savings rate along with increasing the policy rates by 25...