Share of Fixed Deposits in Banks’ Total Deposits up at 60.3% in Dec 2023

Share of Fixed Deposits in Banks’ Total Deposits up at 60.3% in Dec 2023 – The share of term deposits in scheduled commercial banks (SCBs) total deposits increased to 60.3 per cent in December 2023 from 57.2 per cent in March 2023, according to RBI’s quarterly data. Rising return on term deposits (TDs) is driving the compositional shift in deposits of SCBs, the central bank said.

Trending Banking News – Click Here

The weighted average domestic term deposit rate (WADTDR) on fresh and outstanding deposits increased by 246 basis points (bps) and 180 bps, respectively, during May 2022 to December 2023 period, per RBI’s latest monthly bulletin. Hundred basis points equal a percentage point.