new delhi there is some good news for retired persons and those dependent on the interest income as banks have started increasing their fixed deposit rates following the decision of the rbi to hike the short term lending rate by 025 per cent oriental bank of commerce yesterday revised their fixed deposit rates for various maturities and raised the rates for its special deposit scheme asha kiran fds for 400 days to 975 for senior citizens this is probably the highest interest rate being offered by the city based public sector lender on 13month deposit though the senior citizens would get a rate of 975 per cent others will receive 925 per cent for 400day fixed deposit from obc even the new generation private sector lender yes bank increased the deposit rates by 05 per cent across all maturities after the recent revision of interest rates by yes bank senior citizens would get a maximum of 10 per cent on fixed deposits with a maturity of one year to 18 months the others would receive a return of 95 per cent countrys largest public sector lender state bank of india also revised fixed deposit rates upward by up to 05 per cent for selected tenures effective june 1 sbi increased fixed deposits rate for 510 years by 05 per cent to 9 per cent while 35 years tenure was hiked by 035 per cent senior citizens will get 05 per cent moreanother mumbaibased lender bank of india also increased deposit rates up to 05 per cent for various maturities for deposits having a maturity of one year to less than two years the revised rates stands at 915 per cent against the earlier rate of 850 per cent while for deposits ranging from two to three years the new rate is 925 per cent as against earlier rate of 875 per cent similarly fixed deposits of bank of india having a maturity of three to five years will earn 950 per cent interest against the earlier 875 per cent the rates have been revised with a view to mobilise funds from deposits in the beginning of the financial year we will review our rates by june 30 after which they might be revised again the boi official had said there would be a case for further upward revision of fixed deposit rates in case the inflation as projected by many analysts goes up to 10 per cent moreover the banks would have to raise fixed deposit rates to retain the deposit base says brokerage firm edelweiss capital in its recent analysis on impact of repo rate hike on the banking sector the study further pointed out that following recent hike in repo rate bottomline of those banks which are dependent on wholesale money market for funds would come under pressure