Interest Rates 2024 Predictions India. To ease the economic woes while keeping inflation under control, the rbi cut interest rates and kept the repo rate at a minimum of 4%. The reserve bank of india maintained its benchmark policy repo at 6.5% for the ninth consecutive meeting in august 2024 to ensure inflation is down towards its 4%.

Currently, banks in india are offering interest rates on home loans as low as 8.35% and as high as 13.30% as of aug. 9, 2024, lending institutions are offering a maximum of 7.55% interest on fixed deposits up to inr 3 crore for a tenure of up to three years, 7.40% for five years, and up.