NEWS & ADVICE : FIXED DEPOSITS
Axis Bank hikes interest rates on its fixed deposit schemes
By Neelima Shankar
Jan 9, 2013
Print    Email    RSS   

The private sector bank, Axis Bank, has raised its interest rates on select fixed deposits. It increased its interest rates to 9.25 percent, from the existing 9 percent for deposits of more than 1 crore but less than 5 crore with maturity periods ranging between 18 months to less than 5 years.

A senior official of the Mumbai based bank said that select term deposit rates were increased keeping in mind the asset management liability reasons.

The bank has hiked its fixed deposit interest rates at a time when the general market indication is towards lowering of deposit rates.

With this move, the bank joins the likes of public sector banks like Dena Bank and Corporation Bank which had also recently raised its fixed deposit rates of certain maturity. Apart from them, private sector lender, Federal Bank had also increased its interest rates on term deposits some days ago.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
J&K Bank raises PLR
Should you preclose your current FD for...
Credit profile and its effect on loan...
Things to know before retirement
Carnival of Indian Personal Finance Blogs #6


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive