Press Esc to close
Friday 24 October 2014
News updated at 9:08 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

Private banks raise FD rates by up to 4 per cent

August 1, 2013, Mumbai, DHNS:

In a bid to improve liquidity conditions, two leading private sector banks -- HDFC Bank and Axis Bank -- have raised fixed deposit rates by up to 4 percent, which may inspire others to do the same.

To begin with, HDFC Bank has raised fixed deposit rates by 1 percent for maturities between 15 days to 6 months-one-day with effect from July 27, as per information available on its website.  It has increased the interest rate by 0.75 per cent for maturity buckets less than 1 year but over 6 months one day.

Axis Bank has raised interest rate on term deposits with maturity between 14-29 days by 4 to 8 percent, while in case of 7-14 days the increase is by 3.5 to 7.5 percent on bulk deposits above Rs 1 crore, effective this day.  At the same time, the bank raised interest rate by 0.5 to 2.25 percent across the various maturities less than one year but over 29 days, as per information posted on Axis Bank website.

It may be noted that another private sector run Yes Bank had raised lending and deposit rates by up to 0.5 per cent.


Go to Top

Photo Gallery
College students walk in drizzle in Srinagar…

College students walk in drizzle in Srinagar…

People wait as three wild elephants cross…

People wait as three wild elephants cross…

Army soldiers display arms and ammunition recovered…

Army soldiers display arms and ammunition recovered…

Army Personnel inspecting their damaged vehicle…

Army Personnel inspecting their damaged vehicle…

Army personnel take positions during an encounter…

Army personnel take positions during an encounter…

Union Home Minister Rajnath Singh inspecting…

Union Home Minister Rajnath Singh inspecting…

Residents look for their belongings after a fire…

Residents look for their belongings after a fire…

Rush at Moradabad Railway Station on the eve of Bhai Dooj…

Rush at Moradabad Railway Station on the eve of Bhai Dooj…

Devotees collecting Puja Pasadam during Govardhan Puja…

Devotees collecting Puja Pasadam during Govardhan Puja…

Sikh religious warriors display their skills as they ride…

Sikh religious warriors display their skills as they ride…

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523