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Axis Bank Raises Fixed Deposits Rates
May 08, 2018
After India’s largest private sector lender HDFC Bank increased the retail deposit rates by up to 100 bps last month, private sector Axis bank has now increased the rates for the same as well to 7.1%, a 35 BPS increase, for maturity period 12-14 months.
Under the increased competition from mutual funds and debt securities, banks have started to increase the interest rates on the fixed deposit accounts to attract more customers.
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