Press Esc to close
Monday 25 July 2016
News updated at 2:51 AM IST
Weather
Max: 26.4°C
Min : 19.6°C
In Bengaluru
Generally cloudy

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
A wild elephant crosses a highway in search of dry land after floods hit Kaziranga National Park...

A wild elephant crosses a highway in search of dry land after floods hit Kaziranga National Park...

Bollywood actress Kangana Ranaut displays a creation by designer Manav...

Bollywood actress Kangana Ranaut displays a creation by designer Manav...

Santosh Darod of Kollapu and Sandeep Sharma of MEG Bengaluru wrestles during National level...

Santosh Darod of Kollapu and Sandeep Sharma of MEG Bengaluru wrestles during National level...

NSUI members burn effigies of Odisha CM Naveen Patnaik and Health Minister Atanu Sabyasachi Nayak..

NSUI members burn effigies of Odisha CM Naveen Patnaik and Health Minister Atanu Sabyasachi Nayak..

Mahila Congress members holding a protest against price hike during Punjab Pradesh Congress...

Mahila Congress members holding a protest against price hike during Punjab Pradesh Congress...

Shreeganesh Biradar 4 year old, recorded India book in recites in a minute more than 51 spelling...

Shreeganesh Biradar 4 year old, recorded India book in recites in a minute more than 51 spelling...

People use a banana raft to commute in a flooded area after heavy rains in Alipurduar...

People use a banana raft to commute in a flooded area after heavy rains in Alipurduar...

People participate in 'Walk for Indian Armed Forces' rally to support them, in Kolkata...

People participate in 'Walk for Indian Armed Forces' rally to support them, in Kolkata...

Actor Sonu Gowda near a pothole art created by artist Baadal Nanjunda Swamy in Bengaluru...

Actor Sonu Gowda near a pothole art created by artist Baadal Nanjunda Swamy in Bengaluru...

Actress Aindritha Ray performing during Shatha Sambrama -University of Mysore Centenary...

Actress Aindritha Ray performing during Shatha Sambrama -University of Mysore Centenary...

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