Press Esc to close
Monday 21 August 2017
News updated at 12:43 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
A butterfly on a flower at a park in Guwahati on...

A butterfly on a flower at a park in Guwahati on...

An artist giving finishing touches to the idols of Lord Ganesha during the upcoming...

An artist giving finishing touches to the idols of Lord Ganesha during the upcoming...

Villagers fishing in the flood-hit Balimukh village in Morigaon district of Assam...

Villagers fishing in the flood-hit Balimukh village in Morigaon district of Assam...

Women take part in an attempt to break the Guinness World Record for the largest 'Disco Dance' to...

Women take part in an attempt to break the Guinness World Record for the largest 'Disco Dance' to...

A villager carrying household items submerged in flood waters, at the flood-hit Balimukh...

A villager carrying household items submerged in flood waters, at the flood-hit Balimukh...

Legend cricketer Sachin Tendulkar with his fans during the 2nd edition of Mumbai Half Marathon...

Legend cricketer Sachin Tendulkar with his fans during the 2nd edition of Mumbai Half Marathon...

Fruit vendors row a boat as they look for customers inside the Dal Lake in Srinagar, the summer...

Fruit vendors row a boat as they look for customers inside the Dal Lake in Srinagar, the summer...

Bollywood actor Ranveer Singh walking the ramp at the Lakme Fashion Week Winter Festive 2017...

Bollywood actor Ranveer Singh walking the ramp at the Lakme Fashion Week Winter Festive 2017...

A flower composition is seen during the 48th Debrecen Flower Festival in Debrecen, 226 kms east...

A flower composition is seen during the 48th Debrecen Flower Festival in Debrecen, 226 kms east...

Bollywood actor Vidyut Jamwal showcases a creation by designer Kazingmei during Lakme Fashion...

Bollywood actor Vidyut Jamwal showcases a creation by designer Kazingmei during Lakme Fashion...

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.