two consecutive repo rate hikes by the rbi has turned out to be a bonanza for housing finance companies hfcs and nonbanking finance companies nbfcs with a spike in the volume of fixed deposits fds several hfcs and nbfcs increased their interest rates on fds following the repo rate revisions by the central bank in may and june by 40 basis points and 50bps respectively 100bps 1percentage pointwith the rbi effecting another round of repo rate rise of 50bps last friday which is the third revision in four months some banks and nbfcs have already revised their rates on fdssundaram home finance recorded a sixfold jump in the volume of fds in june over may after the interest rate was hiked the chennaibased hfc witnessed gross receipts of rs 67 crore in may this year then the gross receipts rose to over rs 40 crore in the following month after the first rate revision it further spiralled in the next month in the wake of the second revision the company registered gross receipts of close to rs 60 crore in july alonesundaram home finan ce md d lakshminarayanan said we have added over 2000 new deposits in june and july this year as compared to around 1700 in the same period in each of the previous three years he saidpnb housing finance saw an increase of 65 in fds value from april to june equitas small finance bank senior president murali vaidyanathan said the nbfc witnessed an increase in fd volume from individuals and senior citizensicra said fds are one of the alternate funding sources for nbfcs with further revision in policy rates there could be further increase in deposit rates icra vp manushree saggar said