Majority of private banks and foreign banks have hiked deposit rates, and so have some public sector banks (PSBs). Apart from the above mentioned names the list includes private banks such as Yes Bank and Kotak Mahindra Bank. Foreign banks such as Standard Chartered Bank and HSBC and PSBs such as Union Bank of India, Indian Bank and Bank of India are also in the list of deposit rate hikers. However, some large public sector banks such as State Bank of India, Bank of Baroda and Punjab National Bank are yet to hike rates.

The present time can thus be considered as one of the best times for making investments with banks' deposit schemes. Since most of the rate hikes have been done in the 1-2 to 2-3 year deposits, the time seems apt for investors planning long term investments in risk free entities.