Press Esc to close
Wednesday 28 June 2017
News updated at 8:29 AM IST

Private banks raise FD rates by up to 4 per cent

August 1, 2013, Mumbai, DHNS: 23:02 IST
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
An Iraqi special forces soldier walks by a damaged house during fighting...

An Iraqi special forces soldier walks by a damaged house during fighting...

Prime Minister Narendra Modi meeting the Prime Minister of Netherlands...

Prime Minister Narendra Modi meeting the Prime Minister of Netherlands...

Uttar Pradesh Chief Minister Yogi Aditiyanath shaking hands with Takehiko Nakao...

Uttar Pradesh Chief Minister Yogi Aditiyanath shaking hands with Takehiko Nakao...

Zoo workers carry the carcass of 11-year old Royal Bengal tiger Lachit...

Zoo workers carry the carcass of 11-year old Royal Bengal tiger Lachit...

Rescue workers underway to save the five-year-old boy Mangesh Jadhav...

Rescue workers underway to save the five-year-old boy Mangesh Jadhav...

England's Natalie Sciver plays a shot against Pakistan during the ICC...

England's Natalie Sciver plays a shot against Pakistan during the ICC...

Indian boxer Vijendra Singh and Chinese boxer Zulpikar Miamiatiali...

Indian boxer Vijendra Singh and Chinese boxer Zulpikar Miamiatiali...

A gray heron (Ardea cinerea) stands next to a pond and...

A gray heron (Ardea cinerea) stands next to a pond and...

A vehicle wades through a waterlogged road...

A vehicle wades through a waterlogged road...

A lightning strikes near the Heilig Kreuz church...

A lightning strikes near the Heilig Kreuz church...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.