Report Wire - Axis Bank hikes mounted deposit charges. Check newest FD charges right here

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Axis Bank hikes mounted deposit charges. Check newest FD charges right here

1 min read
Axis Bank has raised interest rates on fixed deposits.

Axis Bank has hiked rates of interest on mounted deposits (FDs) for numerous tenors. According to the Axis Bank web site, the brand new charges will come into impact from May 12, 2022. Axis Bank provides time period deposits starting from seven to 10 years. 

Axis Bank newest FD charges efficient 12 May

Following the most recent rate of interest hike, Axis Bank pays rates of interest within the vary of two.5 % to five.75 % throughout numerous FD tenors.

Axis Bank FD charges for senior residents

Senior residents will get an rate of interest starting from 2.5% to six.50% on deposits maturing in 7 days to 10 years.

State Bank of India (SBI) additionally hiked rates of interest on Domestic Bulk Term Deposits of ₹2 crore and above with impact from tenth May 2022.

A clutch of banks introduced hike of their rates of interest on mounted deposits, shortly after the Reserve Bank of India (RBI) hiked the important thing coverage price on May 4 in an unscheduled announcement.

Bandhan Bank, Kotak Mahindra Bank, Jana Small Finance Bank, Bank of Baroda, and ICICI Bank introduced deposit price hikes throughout a number of tenor baskets for retail clients.

 

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