Mumbai, May 9 (PTI) Bank depositors, who have locked in money for tenure of less than one year, could be the major losers and earn negative interest rate on their fixed deposits if high inflation persists over a longer time.
A study of interest rates, offered by different public sector banks, revealed that all of them are currently offering six per cent to 7.50 per cent interest on deposits for duration of six months to one year. Whereas, inflation has spiralled to 7.61 per cent as of April 26.
